GP: The Virgin Galactic logo can be seen outside the building on the company's first trading day on the New York Stock Exchange (NYSE) on October 28, 2019 in New York City.
JOHANNES EISELE | AFP | Getty Images
Check out the companies that make headlines in the midday trade.
Take-Two Interactive – Shares rose more than 4% after the company announced that first quarter sales increased 136% to $ 996.2 million as consumers stayed home amid the coronavirus pandemic . Earnings per share of the company almost doubled in the quarter, and Take-Two also raised its forecast as strength in games like Grand Theft Auto V and NBA 2K20 increased returns.
SolarEdge Technologies – Shares rose more than 18% to a new all-time high after the company's second quarter results. SolarEdge reported sales of $ 331.9 million, a 23% decrease from the previous quarter, but according to FactSet, was above Street's estimates and grew 2% year over year.
Virgin Galactic – The commercial space company's shares fell more than 12% after another quarterly loss. Virgin Galactic informed investors that founder Sir Richard Branson would not fly until the first quarter of next year. The company also announced plans to raise approximately $ 460 million on the sale of approximately 20.5 million common shares.
AIG – Insurance portfolio fell 6.2% after reporting a quarterly loss of $ 7.9 billion compared to a profit of $ 1.1 billion in the same period last year. The loss was primarily due to the sale of the Fortitude business to Carlyle, lower investment income and higher interest expenses. The general pre-tax insurance result also missed Wall Street estimates, according to FactSet.
Apple – The technology giant's shares rose more than 1% after Axios reported that the technology giant had expressed interest in buying the popular social video app TikTok. The report comes after Microsoft has confirmed that talks about the purchase of TikTok have been ongoing, despite President Donald Trump's concerns about the app's connections to China.
Ford Motor – The automotive giant's shares rose more than 1% after CEO Jim Hackett announced that he would step down on October 1. Hackett is replaced by COO Jim Farley. Hackett has been criticized for his leadership, lack of transparency and implementation of a multi-year restructuring plan.
AMC Networks – The television company's shares rose 3.9% after AMC Networks exceeded Wall Street's upper and lower estimates for the second quarter. The company reported adjusted earnings per share of $ 2.39 and sales of $ 646 million. Analysts interviewed by Refinitiv expected earnings per share of $ 1.23 and sales of $ 626 million. The company does not expect the pandemic to "affect its liquidity position".
Edgewell Personal Care – Shares in the company rose more than 10% after the dark quarterly results. Edgewell reported earnings of $ 66 cents per share on sales of $ 484 million, but Wall Street's estimates of $ 82 cents per share on sales of $ 530 million per refinitive were missing. Organic net sales decreased more than 14%.
Vornado Realty Trust – REIT shares rose 5.5% in the news Facebook rents all 730,000 square feet of office space in Vornado's landmark Farley, New York.
Chegg – The textbook company's shares fell more than 4%, despite exceeding the profit and loss account for the quarterly results. The company made forecasts for the next quarter and full year that were above estimates. Chegg said it had more subscribers in the second quarter than in 2018 as a whole.
Mosaic Co. – Mosaic's stake increased more than 13% after the fertilizer manufacturer reported better than expected quarterly results. Mosaic posted earnings of 11 cents per share in the last quarter, compared to analysts' expectations of a loss of 1 cent per share, Refinitiv said. The company's quarterly sales also exceeded estimates.
– With reports from CNBCs Pippa Stevens, Yun Li, Fred Imbert and Jesse Pound.