SPOT, REGN, HIMS and more
Check out the companies making headlines in midday trading: Spotify — Shares of the music streaming company lost 3.5% on the back of disappointing results. Spotify reported first-quarter operating income of 509 million euros, while analysts polled by FactSet expected 519.9 million euros. Spotify’s revenue of 4.2 billion euros was in line with estimates, while its monthly active users of 678 million met the company’s guidance. General Motors — Shares ticked down 0.6% after the automaker said it was reconsidering its full-year outlook due to concerns over tariffs and macroeconomic uncertainty. That admission overshadowed a better-than-expected earnings report for the first quarter. Hims & Hers Health — Shares of the telehealth company soared 23% following news that Novo Nordisk will offer its weight loss drug Wegovy through Hims’ platform, as well as Ro and LifeMD. Royal Caribbean — The stock ticked up 0.1% after the cruise operator reported mixed results for its first quarter. Adjusted earnings were $2.71 per share, topping the $2.55 per share expected from analysts polled by FactSet. Revenue came in at $4 billion, just shy of the $4.01 billion consensus estimate. Deutsche Bank — Shares of the German bank jumped 4%. The lender saw its profit surge 39% in the first quarter, in addition to a 10% gain in net revenue for the firm’s investment banking segment. Regeneron — The biotech company slid 6.9% following a first-quarter earnings miss and a slashed full-year outlook for gross margin. Regeneron earned an adjusted $8.22 per share on $3.03 billion in revenue, while analysts surveyed by FactSet forecast $8.62 per share and $3.25 billion in revenue. SoFi Technologies — The fintech bank added 0.5% after first-quarter net revenue topped expectations. SoFi posted an adjusted $770.7 million, beating the consensus estimate of $739 million from analysts surveyed by FactSet. Waste Management — The garbage collection and recycling stock dipped about 0.1% after first-quarter revenue came in lighter than expected. Waste Management reported $6.02 billion in revenue, below the $6.11 billion projected by analysts, according to FactSet. Pfizer — Shares popped 3.2% after the drug maker announced an expansion of its cost-cutting initiatives and said its first-quarter profit came in ahead of Wall Street expectations. However, Pfizer posted declining sales due to further slides in Covid vaccine revenue. While Pfizer held its 2025 guidance steady, the company said it was not yet sure how tariffs would affect the business. Honeywell — The manufacturing and technology company rallied 5.4% on better-than-expected earnings for the first quarter. Honeywell earned $2.51 per share, excluding items, and $9.82 billion in revenue, while analysts penciled in $2.21 per share and revenue of $9.59 billion, per FactSet. BP — U.S. shares of the British oil giant retreated 3.6% after net profit missed the Street’s prediction. BP posted $1.38 billion in underlying replacement cost profit — a proxy for net profit — in the first quarter, while analysts surveyed by LSEG expected $1.6 billion. NXP Semiconductors — The chip stock tumbled 6.9%. While the company beat expectations on both lines, the company announced Rafael Sotomayor will replace Kurt Sievers as CEO. Leggett & Platt — Shares surged 31.6% after the bedding products manufacturer reiterated its full-year outlook. Executives said they should see a net benefit from tariffs, but the company cautioned that the duties could weigh on consumer confidence and demand, and could also push inflation up. Sherwin-Williams — The painting and coating company advanced 4.8% after posting better-than-expected earnings per share and reaffirming full-year guidance. However, Sherman-Williams recorded $5.31 billion in revenue, missing the $5.40 billion consensus estimate from FactSet. Welltower — Shares of the health-care real estate investment trust rose 1.6% on better-than-anticipated first-quarter results. Welltower recorded $2.42 billion in revenue, while analysts polled by FactSet estimated $2.34 billion. Woodward — The manufacturing stock added 1.9% after posting fiscal second-quarter adjusted earnings of $1.69 per share on revenue of $884 million. Analysts polled by FactSet had expected earnings of $1.46 per share and revenue of $835.2 million. Woodward also raised the lower end of both its full-year earnings and revenue guidance ranges. Universal Health Services — The health-care facility operator lost 0.6% after posting $4.10 billion in first-quarter revenue, missing the FactSet consensus forecast of $4.15 billion. But the company earned $4.84 per share, excluding items, beating the Street’s prediction of $4.35 per share. Cadence Design Systems — The electronics design stock advanced 5.7%. The company posted first-quarter earnings of $1.57 per share, excluding items, surpassing the LSEG consensus estimate of $1.49 per share. Cadence’s revenue for the quarter came in line with expectations at $1.24 billion. — CNBC’s Michelle Fox, Hakyung Kim, Pia Singh, Lisa Han, Jesse Pound and Sarah Min contributed reporting.