See the companies making headlines in midday trading: Lamb Weston — The potato and french fry company fell more than 28% after reporting disappointing fiscal fourth-quarter earnings. Lamb Weston reported adjusted earnings of 78 cents per share on $1.61 billion in revenue. Wall Street analysts were expecting $1.26 per share in earnings on $1.70 billion in revenue, according to FactSet. Lamb Weston also said it expects the new fiscal year to be “challenging.” Tesla — The electric vehicle maker fell more than 12% after the company’s second-quarter earnings came in weaker than expected. Tesla, however, beat expectations on revenue, posting $25.5 billion compared to the consensus estimate of $24.77 billion, per LSEG. Shares of electric vehicle rivals Rivian Automotive and Lucid declined, falling about 7% and more than 5%, respectively. Enphase Energy — Shares of the solar company rose about 13% after posting stronger-than-expected third-quarter guidance. Enphase expects revenue between $370 million and $410 million, while analysts surveyed by LSEG had expected $404 million. Seagate Technology — Shares jumped about 4% after the computer hardware company reported fiscal fourth-quarter results that beat Wall Street expectations. The company reported adjusted earnings of $1.05 per share on $1.89 billion in revenue. That was above the 75 cents per share on $1.87 billion in revenue that analysts surveyed by LSEG had expected. Vertiv Holdings — Shares fell more than 13% despite the IT infrastructure company reporting better-than-expected second-quarter earnings. Vertiv reported earnings of 67 cents per share, above the FactSet consensus estimate of 57 cents per share. Revenue was in line with consensus estimates of $1.95 billion. Alphabet — The parent company of Google saw its shares fall about 5% after reporting second-quarter results that showed disappointing revenue from YouTube ads. Alphabet generated $8.66 billion in YouTube ad revenue, compared to estimates of $8.93 billion, according to StreetAccount. Visa — Shares fell 4% after the company reported lower-than-expected revenue for its fiscal third quarter. Visa reported $8.9 billion, slightly below the $8.92 billion expected by analysts surveyed by LSEG. Meanwhile, payments volume rose 7% in the quarter. AT&T — The telecom giant added more than 5% after reporting that it added 419,000 wireless phone subscribers with monthly billing, far exceeding the consensus forecast from analysts surveyed by FactSet. AT&T reported quarterly earnings per share that were in line with analysts surveyed by LSEG, while revenue came in below what the Street had expected. Meta Platforms — Shares of the social media giant fell more than 5% after the company unveiled a free version of its Llama artificial intelligence model. General Dynamics — Shares fell more than 3% after the global aerospace and defense company reported second-quarter earnings that missed expectations. The company reported earnings of $3.26 per share, below the FactSet consensus estimate of $3.28 per share. Revenue, on the other hand, beat expectations, coming in at $11.98 billion compared to the consensus estimate of $11.46 billion. Boston Scientific — Shares of the medical device company fell about 1% after reporting second-quarter results that came in above Street expectations. Boston Scientific posted adjusted earnings of 62 cents per share on revenue of $4.12 billion. That was higher than the 58 cents per share on $4.02 billion in revenue that analysts polled by FactSet had expected. Amphenol — Shares of the electronic connector maker fell more than 6%. Amphenol posted third-quarter guidance that was roughly in line with analyst estimates, forecasting adjusted earnings of 43 cents to 45 cents per share, while analysts were calling for 44 cents per share, according to FactSet. CoStar Group — The real estate data analytics company jumped about 2%. CoStar raised its full-year guidance for adjusted earnings, expecting 64 cents to 66 cents per share, up from its previous forecast of 58 cents to 62 cents per share. Analysts polled by FactSet were calling for 62 cents per share. — CNBC’s Alex Haring, Yoon Lee, Hakyung Kim, Jesse Pound and Sarah Min contributed to the report.
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