Six Flags, Disney, Sonos and more


Guests are socially distanced on rides like Wonder Woman: Lasso of Truth at Six Flags Great Adventure in Jackson, New Jersey.

Kenneth Kiesnoski/CNBC

Find out which companies are making headlines in the midday business.

Six Flags – Shares fell more than 22% after the theme park company sharply missed second-quarter earnings expectations. Six Flags reported earnings of 53 cents per share on revenue of $435 million. Analysts polled by Refinitiv expect earnings of $1.01 per share on revenue of $519 million. The theme park operator attributed the misfire to low attendance, a 22% drop in visitor numbers.

Walt Disney – Shares of Disney jumped about 5.5% after the company reported better-than-expected results for the quarter in both revenue and profit, helped by strong attendance at its parks in theme and streaming numbers better than expected. The company also revealed a new pricing structure for its streaming service that includes an ad-supported tier.

Pharmaceutical stocks – Shares of Pfizer, GSK and Sanofi fell 3.5%, 9.8% and 3.3%, respectively, as investors watched ongoing litigation over Zantac, a recalled heartburn drug stomach. The drug was pulled from shelves in 2020 after the Food and Drug Administration discovered an impurity in Sanfoli’s version that could cause cancer.

Ralph Lauren – Shares of Ralph Lauren soared 4.5%, continuing a rally that began after the company reported earnings earlier in the week that beat Wall Street’s high and low expectations .

Bank stocks – Shares of Goldman Sachs, Wells Fargo and JPMorgan gained about 2% on Thursday, outperforming the broader market. Stocks may have been boosted by easing concerns about a recession after a second consecutive low inflation report.

Oil stocks – Oil and energy companies led the S&P 500 on Thursday, supported by a jump in crude futures. Devon Energy jumped more than 5.5%, posting the best performance of the index at midday.

Vacasa — Shares of Vacasa jumped more than 27% after the vacation rental services company improved its full-year outlook, citing increased demand. The company also posted a quarterly profit, surprising Wall Street.

Warby Parker – Shares of Warby Parker jumped 20% after reporting earnings before the bell. The eyewear retailer, which lowered its financial forecast for the year, posted a quarterly loss below expectations and sales in line with analysts’ estimates. It also cut 63 jobs.

Bumble – Shares of the dating app fell 6% after the company slashed its full-year revenue forecast. Bumble posted a negative impact of $9.4 million due to year-over-year foreign currency fluctuations. Meanwhile, his Badoo app and other revenue fell by double digits.

Cardinal Health – Shares of Cardinal Health jumped 5.5% after the company reported mixed quarterly results. The pharmaceutical company’s profits beat Wall Street estimates, but revenue was lower. The company also announced that its CEO Mike Kaufmann will step down on September 1 and be replaced by its chief financial officer Jason Hollar.

Sonos – Shares of the high-end speaker maker fell 22.8% after the company missed high and low expectations. Sonos also cut its full-year guidance amid tough economic conditions and announced the upcoming departure of its current chief financial officer.

– CNBC’s Samantha Subin, Michelle Fox, Yun Li, Sarah Min and Tanaya Macheel contributed reporting


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