Check out the companies making headlines midday Thursday:
Tesla — Shares of the electric car company rose over 3.6% following its announcement of plans to raise $2 billion in capital through new equity and convertible notes. Tesla CEO Elon Musk signaled his intent to buy about $10 million of stock, or about 41,896 shares.
Wayfair — Wayfair plunged as much as 11% after the company reported steep gains in revenue, but a greater-than-expected loss for the first quarter of the year. Wayfair’s revenue rose 39% to $1.94 billion in the first quarter of the year, compared with the $1.92 billion expected, according to data from Refinitiv. However, the online furniture-retailer posted a loss of $200.4 million, or $2.20 a share, versus a loss of $107.8 million, or $1.22 a share, during the same period a year earlier.
Eventbrite — Shares of Eventbrite continued to crater down 29% based on dismal first-quarter earnings and weak outlook released Wednesday. The stock is trading below $18 per share, its lowest level since its initial public offering in September of 2018. The online ticketing platform reported a loss of 13 cents per share on revenue of $81.3 million. Analysts forecast a loss of 9 cents on revenue of $83.0 million, according to Refinitiv.
Beyond Meat — Beyond Meat, which celebrated its initial public offering Thursday, saw its stock rocket as much as 140% in the hours following its first public trade. Beyond offers meat alternatives ranging from faux ground beef to burger patties and priced its IPO at $25 per share. The stock was last seen at $61.
Under Armour — Under Armour rose 4.32% after the sportswear company reported better-than-expected first-quarter earnings. Under Armour reported earnings of 5 cents per share, while analysts had expected no earnings, and revenues of $1.205 billion, $24 million higher than expected. The company also raised its guidance for the 2019 fiscal year.
AmerisourceBergen — Shares of AmerisourceBergen rose 3.92% after the company reported mixed second-quarter earnings. The wholesale company reported earnings of $2.11 per share, 16 cents higher than expected, and revenues of $43.481 billion, $161 million lower than expected.
Discovery Communications — Discovery Communications fell more than 5% Thursday after reporting disappointing first-quarter revenue before the bell. The media company posted revenue of $2.707 billion, lower than the expected $2.716 billion, according to Refinitiv. Earnings per share were 87 cents, topping the forecast 79 cents.
