Stocks making the largest strikes noon: Gilead Sciences, CVS, Electronic Arts and extra

Check out the businesses making headlines in noon buying and selling Wednesday.

Gilead Sciences — Shares of the biopharma firm rose 6.6% after quarterly income of $6.26 billion smashed a FactSet estimate of $5.86 billion. Full-year income steerage of $24.5 billion additionally got here in higher than anticipated.

CVS Health — The pharmacy big’s shares rose 5.7% after the corporate beat Wall Street’s expectations for the second-quarter earnings. It additionally posted a same-store gross sales enhance of 8% in contrast with the identical interval a 12 months in the past, citing buyer purchases of at-home Covid take a look at kits and cough, chilly and flu drugs.

Electronic Arts — The online game firm rose 4% after it reported adjusted earnings of 47 cents per share, beating a Refinitv forecast of 28 cents per share for its most up-to-date quarter. Net bookings of $1.30 billion additionally beat estimates of $1.26 billion, thanks partially to energy within the EA’s FIFA franchise.

Charles River Laboratories — Shares dropped 9.2% after the pharmaceutical firm decreased full-year steerage, citing a stronger greenback and rising rates of interest.

Starbucks — The espresso chain noticed shares edge greater by greater than 3% after it reported better-than-expected quarterly outcomes, regardless of lockdowns in China weighing on its efficiency. Within the U.S., nonetheless, internet gross sales rose 9% to $8.15 billion and same-store gross sales grew 3%.

Moderna — Shares of the vaccine inventory jumped 16.7% after Moderna’s second-quarter outcomes simply topped Wall Street estimates. The firm reported $5.24 in earnings per share on $4.75 billion of income. Analysts surveyed by Refinitiv have been anticipating $4.55 in earnings per share and $4.07 billion of income. Moderna additionally introduced a $3 billion share buyback program.

SoFi Technologies — Shares soared greater than 27% after the private finance firm posted a beat on the highest and backside strains, issued robust full-year income steerage and reported a 91% leap in private mortgage origination quantity.

Match Group —  Shares of the relationship app operator tumbled 17% after the corporate reported income of $795 million for the second quarter, in contrast with a StreetAccount estimate of $803.9 million. Match additionally issued weak steerage and introduced the departure of Renate Nyborg, CEO of its Tinder unit.

Airbnb — Shares of Airbnb slipped about 3% after the holiday residence rental firm posted weaker-than-expected income for the second quarter. The firm additionally reported greater than 103 million booked nights and experiences, the biggest quarterly quantity ever for the corporate however wanting StreetAccount estimates of 106.4 million.

PayPal — The funds big’s shares soared 9.4% following stronger-than-expected second-quarter outcomes and a rise in its forecast. PayPal additionally revealed it has entered into an information-sharing settlement with Elliott Management and introduced a $15 billion share buyback program.

 — CNBC’s Jesse Pound and Sarah Min contributed reporting