Stocks making the biggest moves midday: Netflix, Norwegian Cruise Line, Intuitive Surgical and more

Market Insider

A picture of a woman starting Netflix on a TV inside her apartment.
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Check out the companies making headlines in midday trading.

Netflix — The streaming giant’s shares plunged more than 6% after the company reported a big subscriber miss as the demand surge from the pandemic started to fade. Netflix added 3.98 million paid net subscriber globally, versus 6.2 million expected, according to FactSet. The company also said it only expects to add about 1 million subscribers in the current quarter, well below estimates.

Norwegian Cruise Line — The cruise line operator saw its stock pop about 7% after Goldman Sachs upgraded the stock to buy from neutral. The Wall Street firm said its business mix and balance sheet put the company in a strong position relative to other major cruise players.

Intuitive Surgical — The medical device stock surged more than 8% after a stronger-than-expected first quarter report. Intuitive Surgical reported earnings of $3.52 per share on $1.29 billion in revenue. Analysts surveyed by Refinitiv had penciled in $2.63 per share and $1.1 billion in revenue. Procedures using the company’s da Vinci Surgical Systems rose 16% year over year.

CSX — Freight railroad company CSX rose nearly 5% despite slightly missing analysts’ earnings expectations. CSX earned 93 cents per share, compared with the 95 cents per share forecast on Wall Street, according to Refinitiv. Revenue came in at $2.81 billion, above estimates of $2.78 billion.

Interactive Brokers — Shares of the e-broker popped about 1% after beating on the top and bottom lines of its quarterly earnings. Interactive Brokers reported earnings per share of 98 cents on revenue of $893 million, while analysts expected earnings per share of 91 cents on revenue of $737 million, according to Refinitiv. Customer accounts increased 74% from the year-ago quarter to 1.33 million, the broker said.

Tenet Healthcare — Shares of the hospital company jumped more than 3% on Wednesday after its first-quarter results beat expectations, boosted by a jump in ambulatory care revenue. Tenet reported $1.30 in adjusted earnings per share on $4.78 billion in revenue. Analysts surveyed by Refinitiv were expected 72 cent per share and $4.77 billion in revenue.

United Airlines — The airline stock rebounded 1.8% after plunging 8.5% on Tuesday. The initial loss came after the carrier reported its fifth consecutive quarterly loss and said that business and international travel is still far from a recovery. Deutsche Bank added a short term buy call on shares of the airline and said it saw an “attractive” risk/reward.

Mattel – Shares of the toy company advanced 1.3% after Berenberg upgraded the stock to a buy rating based on expected revenue growth. “After several quarters of being overly cautious, and with a better understanding of the ways in which Mattel can sustainably grow its key franchises, we are now believers,” the firm said in a note to clients. Berenberg envisions the stock hitting $25, which is 22% above where shares closed on Tuesday.

Welbilt — Welbilt shares surged nearly 40% after the maker of professional foodservice equipment agreed to be bought by rival Middleby in an all-stock transaction with an implied value of $4.3 billion.

MetLife – Shares of the insurance company advanced 2% after UBS initiated coverage on the company with a buy rating. The firm said MetLife’s “divest-and-deploy strategy” is “enabling ongoing reduction to earnings volatility and enterprise complexity.” The firm has a $72 target on the stock, which is roughly 18% above where shares closed on Tuesday.

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— with reporting from CNBC’s Yun Li, Jesse Pound and Pippa Stevens.