Check out the companies making headlines for noon deals. Applovin – Mobile ad technology company rose 12% after a first quarter results that beat analyst expectations. Applovin also announced that it will sell its mobile gaming business in a $400 million deal. CARVANA – Stocks rushed over 11% after the online used car market posted first quarter results that were better than expected. ARM Holdings – The US-registered stock of UK chip designers fell 5% after the company provided disappointing guidance this quarter. It overshadowed fourth quarter revenue and revenue that beat expectations. KENVUE – Consumer health stocks won more than 4% shortly after a result that surpassed the company’s expectations in the first quarter. Adjusted revenue was 24 cents per share, exceeding the 23 cents predicted by analysts voted by FactSet. The company’s $3.74 billion revenue is also surpassed by a consensus estimate of $3.688 billion. Mercadolibre – Uruguay-based e-commerce and payments company’s US registered shares rose more than 7%, following the company’s first quarter results. Mercadolibre won $9.74 per share with revenue of $5.94 billion. Analysts voted by FactSet had expected a profit of $8.27 per share against revenue of $5.47 billion. Cleveland-Cliffs – Steelmaker stock plummeted 15.8% after first quarter results missed analyst estimates. The company lost 92 cents per share excluding items, but analysts voted by FactSet sought a loss of 82 cents per share. The revenues were also not as expected. Fortinet – Cybersecurity companies have pulled back nearly 8% due to a lack of guidance for the whole year. The company is expected to reach between $2.43 and $2.49 per share. The midpoint of that range is just below the LSEG consensus estimate of $2.47 per share. PELOTON – The digital workout company has soaked over 4% after suffering a sharp loss in the first quarter than planned. Peloton lost 12 cents per share, but analysts voted by LSEG were expecting a loss of 6 cents per share. CROCS – Footwear companies rose 10% after reporting bright revenue and revenue for the first quarter. However, the company announced it had withdrawn its year-round guidance “due to macroeconomic uncertainty resulting from global trade policies.” Drug Strains – Stocks of major drugmakers fell after Politico, citing people familiar with the issue. President Donald Trump reported that he plans to pursue a Medicare pricing plan that reduces drug costs. Eli Lilly and Regeneron fell 3.6% and 2.6% respectively, while Abbvie passed 1.6%. Amgen and Bristol Myers also moved more than 1% lower. Shopify – The Commerce Technology platform slides nearly 2% after the company’s adjusted operating profit fell below analyst expectations. Warner Bros. Discovery – Media conglomerate stocks have appeared nearly 5% after CNBC’s David Faber cited the source and reported that the company was considering separating linear networks from cables. – CNBC’s Alex Hurling, Hakyung Kim and Lisa Kailay Han reported.
