Check out the companies making headlines midday Wednesday:
Diebold Nixdorf — Shares of the ATM maker surged more than 30 percent after reporting a better-than-expected quarterly revenue and upbeat guidance for 2019. Diebold expects adjusted earnings before interest, taxes, appreciation and amortization to range between $380 million and $420 million, well above a FactSet estimate of $339.8 million.
Freeport-McMoRan — Freeport-McMoRan’s stock jumped more than 4 percent after an analyst at Morgan Stanley upgraded it, noting the company will get a boost from higher copper prices.
Hilton Worldwide — The hotel operator climbed 5.8 percent on the back of better-than-expected quarterly earnings. Hilton said in its report its bottom line got a boost from higher room rates in the previous quarter.
Dish Network — Dish shares dropped more than 8 percent after satellite TV service company’s fourth-quarter earnings missed analyst estimates. Dish also said it lost a net 334,000 subscribers in the previous quarters, more than expected.
Lattice Semiconductor — The chipmaker’s stock surged 24.6 percent after posting adjusted earnings per share of 8 cents, in line with analyst expectations, and better-than-expected quarterly revenue. Lattice also issued better-than-expected sales guidance for first-quarter 2019.
Activision Blizzard — Shares of Activision jumped more than 5 percent after the video game publisher reported adjusted quarterly profit of $1.29 per share, one cent above estimates. Activision also announced it would cut its workforce by about 8 percent, even as it boosts the number of developers by about 20 percent to increase new content.
McDermott International — Shares of McDermott tanked more than 23 percent after the construction company said it expects to report an additional $168 million charge for its Cameron LNG project in the fourth quarter of 2018. McDermott blamed the charge on unfavorable labor productivity, and increases in subcontract, commissioning and construction management costs.
Groupon — Groupon’s stock plummeted 13.51 percent on weaker-than-expected fourth-quarter earnings. The e-commerce company’s earnings were 10 cents per share, falling 3 cents short of analyst estimates. Groupon also said it expects earnings before interest, taxes, appreciation and amortization of $270 million for 2019, below a FactSet estimate of $301.6 million.
Teva Pharmaceuticals — Shares of the Israel-based drugmaker dropped more than 7 percent Wednesday after the company issued a disappointing revenue forecast for 2019, citing weaker-than-expected sales from its multiple sclerosis drug Copaxone. The world’s largest generic drugmaker also posted a larger-than-anticipated drop in profit for the fourth quarter. Teva is currently on pace for its worst day of trading since early August of last year.
Anadarko Petroleum, Devon Energy, Hess, Newfield Exploration — Energy stocks are far and away the best performing group in the S&P 500, boosted by a rise in crude oil prices. The benchmark West Texas Intermediate hit its highest level in over a week, driven in part by bullish data from the American Petroleum Institute that showed a surprise draw down in U.S. oil inventories. Among the individual stocks leading the group higher today include Anadarko Petroleum, Devon Energy, Hess, and Newfield Exploration – all higher by more than 3 percent.
—CNBC’s JR Reed, Yun Li and Nadine El-Bawab contributed to this report.
from Update News Zone http://bit.ly/2WZikMi
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