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Jack Dorsey, chief executive officer and co-founder of Square Inc., speaks during a Bloomberg Television interview on Wednesday, Aug. 2, 2017.
Check out the companies making headlines midday Tuesday:
Coca-Cola — The soda-maker’s stock rose 1.7% after the company reported better-than-expected quarterly results. Coca-Cola said its earnings were boosted by sales of water, sports drinks and zero-sugar beverages.
United Technologies — The Dow component closed more than 2% higher on the back of strong first-quarter earnings. The company reported earnings per share of $1.91, 20 cents above a Refinitiv estimate. United Tech also raised its 2019 earnings guidance.
Twitter — Shares of Twitter surged 15.6% after the social media company reported better-than-expected earnings. Twitter reported earnings of 37 cents per share, more than double what analysts polled by Refinitiv expected. The company also said that 134 million of its users are monetizable.
Lockheed Martin — Lockheed Martin shares jumped 5.7% after the aerospace and defense company delivered first-quarter earnings that were far above Wall Street expectations. Lockheed saw first-quarter earnings of $5.99 a share, more than the $4.34 a share expected by Refinitiv. The defense contractor raised its full-year earnings outlook.
Procter & Gamble — The consumer giant’s stock fell more than 2% despite the release of better-than-expected first-quarter earnings. Procter & Gamble said its quarterly results were driven by beauty-product sales.
Walt Disney — Shares of the media giant rose more than 1% after an analyst at Bank of America Merrill Lynch hiked its price target on them to $168 from $144, implying a 27.6% upside from Monday’s close of $131.68. The analyst cited potential upside from the company’s Disney+ service, noting it can “become a material value driver for shareholders.”
Whirlpool — Whirlpool shares rose 0.4% after the appliance maker reported earnings per share of $3.11. Analysts polled by Refinitv expected a profit of $2.86 per share. CFO Jim Peters also said: “We are on track to meet our strong earnings and cash flow guidance for the year.”
Harley-Davidson — Harley-Davidson shares fell as much as 4% before rebounding after President Donald Trump pledged to retaliate against “unfair” European Union tariffs that the motorcycle manufacturer partially blamed for its almost 27% drop in first-quarter profit. The company said its first-quarter net income was $127.9 million on consolidated revenue of $1.38 billion, as opposed to $174.8 million on consolidated revenue of $1.54 billion last year. The stock closed 2.7% lower.
Hasbro — Shares of Hasbro jumped 14.2% after the toy maker reported better-than-expected results. The company said the box-office success of Transformers movie spin-off “Bumblebee” charged sales of its action toys.