Check out the companies making headlines in midday trading.
Peloton — Shares of the exercise bike company tumbled more than 35% after the firm reported weakening sales growth and a wider-than-expected loss in its fiscal first quarter. Peloton also slashed its outlook for the full fiscal year amid softened demand for its exercise equipment and ongoing supply chain challenges. Several Wall Street investment firms downgraded the stock following Peloton's dismal results.
Shake Shack — Shares of the burger chain jumped 16% despite its third-quarter revenue missing expectations. Shake Shack reported an adjusted loss of 5 cents per share on $193.9 million in revenue for the quarter, while analysts expected by Refinitiv were anticipating a loss of 6 cents per share on $197.5 million of revenue. However, BTIG upgraded the stock, saying that Shake Shack's fundamentals would improve in the quarters ahead.
Pfizer — Shares of the pharmaceutical giant added 10% after it delivered promising data on an antiviral oral Covid pill and said it will ask regulators to approve it as soon as possible. A similar one made by Merck and Ridgeback Biotherapeutics, approved by British regulators Thursday, is set to be evaluated by U.S. regulators this month. Merck's stock is down 9%. Moderna shares continued to tumble Friday, about 16%, after reporting a weaker-than-expected quarterly report Thursday.
Expedia — Shares of the travel company jumped 15% after Expedia handily beat analysts' expectations during the third quarter. The company earned $3.53 per share excluding items, well above the $1.65 Wall Street was expecting, according to estimates from Refinitiv. Revenue came in at $2.96 billion, also ahead of the expected $2.73 billion. Shares of fellow travel company Booking Holdings advanced more than 7% as demand continues to recover.
Airbnb — Airbnb shares rose nearly 13% after the company reported stronger-than-expected third-quarter revenue. The company posted revenue of $2.24 billion versus the Refinitiv consensus of $2.05 billion.
Canada Goose — The outerwear maker's shares jumped 19% after the company reported third-quarter results. It recorded an unexpected profit and better-than-expected revenue and raised its full-year forecast.
Live Nation Entertainment — Live Nation shares gained 15% after the event promoter reported strong quarterly earnings amid a sales surge with the return to live events. The company brought in a profit of 19 cents per share, versus the loss of five cents per share analysts estimated. It also recorded $2.7 billion in revenue, compared to forecasts of $2.19 billion.
Penn National Gaming — The casino and racetrack operators' shares were up more than 7% Friday as investors bought the previous day's dip. The stock fell 20% Thursday after reporting weaker-than-expected quarterly earnings.
Lions Gate Entertainment — Shares of the movie and television studio rose more than 22% after the company said it's considering a sale or spin-off of its Starz premium cable channel as a way to potentially unlock significant shareholder value.
Uber — Uber shares rose more than 4% after the company reported its first profitable quarter on an adjusted basis, largely driven by its ride-sharing and food delivery services. On Thursday, Uber posted an overall loss, thanks to a drop in value of its stake in Didi, its Chinese counterpart.
— CNBC's Pippa Stevens, Yun Li, Jesse Pound and Hannah Miao contributed reporting