Stocks making the biggest moves midday: AMD, Kraft Heinz, Disney, Roku, Zillow Group & more

Market Insider

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Aug. 21, 2017.

Michael Nagle | Bloomberg | Getty Images

Check out the companies making headlines midday Thursday:

AMD — Advanced Micro Devices soared more than 16% on Thursday after the semiconductor company released a new generation of its processor chip for data centers and announced Twitter and Alphabet’s Google and as customers. The announcement comes on the heels of a disappointing earnings announcement last month that showed a decline in revenues compared with the prior year and a lower revenue guidance than analysts expected.

Kraft Heinz — Kraft Heinz plummeted 8.6% after disclosing a $1.22 billion write-down to the value of its brands.

Disney — Disney shares rose 2.3% after Credit Suisse upgraded it to “outperform” from “neutral” and boosted its price target for the stock to $150 a share from $130 a share, citing the coming launch of the company’s Disney+ streaming service, which will feature Disney films and television, as well as exclusive content from marquee brands like Star Wars and Marvel.

Roku — Roku soared 20.9% after the streaming platform’s second-quarter results topped Wall Street’s expectations. On Wednesday, the company reported a loss per share of 8 cents on revenue of $250 million. Analysts had expected a loss per share of 22 cents on revenue of $224 million, according to Refinitiv. Roku pointed to its growth in advertising as its monetized video ad impressions more than doubled year over year.

Marathon Oil — Marathon Oil shares rose 6.7% after the energy company reported better-than-expected earnings and revenue for the second quarter. The company posted a profit of 23 cents a share on revenue of $1.43 billion. Analysts polled by Refinitiv expected a profit of 13 cents a share and sales of $1.37 billion. Better-than-expected production numbers led to the company’s strong results.

Viacom — Viacom shares jumped 3.7% after the company reported adjusted quarterly profits of $1.20 a share, beating a Refinitiv estimate by 13 cents a share, driven by growing domestic ad sales. Revenue also beat forecasts.

Zillow Group — Shares of Zillow tumbled 15.9% after the online real estate company adjusted its full-year outlook, citing slower-than-expected integration of its home loans business and mortgage software development.

Fossil Group — The fashion accessory company’s stock jumped 7% after announcing a smaller-than-forecast loss for the second quarter. Fossil reported a loss of 4 cents per share. Analysts polled by Refinitiv expected a loss of 5 cents a share. CEO Kosta Kartsotis said the company’s sales performance “improved sequentially from the first quarter” across all regions. The stock has since reversed and was last seen trading 1% lower.

e.l.f Beauty — Shares of the cosmetics company gained 4.6% after the company’s quarterly results topped analyst expectations. E.l.f. posted an adjusted profit of 14 cents a share on $59.8 million in revenue. Analysts polled by Refinitiv expected a profit of 7 cents per share on sales of $54.9 million. CEO Tarang Amin said the company’s “strategic imperatives” have “driven improvements in productivity within our national retail partners.” The company also raised its fiscal 2020 guidance.

Mondelez — An analyst at Morgan Stanley upgraded the snacks maker to “overweight” from “equal weight,” sending the stock up 2.9%. The analyst cited “increased confidence” in Mondelez’s revenue growth moving forward.

Match Group — Match Group shares dropped 5% after an analyst at UBS downgraded it to “neutral” from “buy,” noting the dating services company has its “upside optionality priced in.”

Foot Locker — The shoe retailer’s stock rose 0.4% after an analyst at Morgan Stanley upgraded it to “equal weight” from “underweight.” “We continue to believe revenue and EBIT margin are at risk as consumers increasingly prefer to shop directly with brands, but these risks appear to be priced in at 7.5x 2020 EPS,” the analyst said.

—CNBC’s Elizabeth Myong, Jesse Pound, Marc Rod and Mallika Mitra contributed to this report.

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