Customers are socially distanced on rides like Wonder Woman: Lasso of Truth at Six Flags Great Adventure in Jackson, New Jersey.
Kenneth Kiesnoski / CNBC
Check out the companies that make headlines in midday trading.
Six flags – Shares fell more than 22% after the amusement park company completely missed its second-quarter earnings expectations. Six Flags reported earnings of 53 cents per share on revenue of $435 million. Analysts surveyed by Refinitiv forecast earnings of $1.01 per share on revenue of $519 million. The theme park operator attributed the absences to weak attendance, or a 22% drop in visitor numbers.
Walt Disney – Disney shares rose about 5.5% after the company posted results better than expected for the quarter from start to finish, supported by strong attendance at its theme parks and better-than-expected streaming numbers. The company also revealed a new pricing structure for its streaming service, including an ad-supported tier.
Pharmaceutical stocks – Stocks of Pfizer, GSK and Sanofi slipped 3.5%, 9.8% and 3.3% respectively as investors watched the ongoing litigation surrounding Zantac, a heartburn medication being recalled. The drug was pulled from store shelves in 2020 after the Food and Drug Administration found an impurity in Sanfoli’s version that could cause cancer.
Ralph Lauren Shares of Ralph Lauren rose 4.5%, continuing a rally that began after the company reported earnings earlier in the week that beat Wall Street expectations for top and bottom returns.
Bank stocks – Stocks of Goldman Sachs, Wells Fargo and JP Morgan rose about 2% on Thursday, outperforming the broader market. Stocks may have been buoyed by easing recession fears following the second consecutive soft inflation report.
Oil stocks – Oil and energy companies led the S&P 500 index on Thursday, supported by soaring crude oil futures. Devonian energy up more than 5.5%, recording the best performance in the index midday.
Vacasa —Vacasa’s share jumped more than 27% after the vacation rental company raised its full-year outlook, citing a spike in demand. The company also posted quarterly earnings, surprising Wall Street.
Warby Parker – Shares of Warby Parker jumped 20% after the earnings report before the bell. The eyewear retailer, which cut its financial forecast for the year, posted a smaller-than-expected quarterly loss and revenue that matched analyst estimates. It also cut 63 jobs.
Buzz The dating app’s stock fell 6% after the company cut its annual revenue forecast. Bumble announced a negative impact of $9.4 million from foreign currency fluctuations over last year. Meanwhile, the Badoo app and its other revenue dropped double digits.
Cardinal Health Cardinal Health shares rose 5.5% after the company reported mixed quarterly earnings. The pharmaceutical company’s earnings beat Wall Street estimates, but revenue fell. The company also announced that Chief Executive Officer Mike Kaufmann will step down on September 1 and be replaced by Chief Financial Officer Jason Hollar.
Sonos – Shares of the premium speaker maker fell 22.8% after the company missed expectations on earnings and margins. Sonos also cut full-year guidance amid a challenging economy and announced the impending departure of its current chief financial officer.
– CNBC’s Samantha Subin, Michelle Fox, Yun Li, Sarah Min and Tanaya Macheel contributed reporting
