Check out the companies making headlines in midday trading: SoFi Technologies – The consumer fintech company's stock price fell nearly 10% on disappointing second-quarter earnings guidance. SoFi expected adjusted revenue of $555 million to $565 million and net income of $5 million to $10 million, while analysts surveyed by FactSet called for revenue of $580.8 million and net income of $13.9 million. However, SoFi's first-quarter earnings beat analysts' estimates. Tesla – The Elon Musk-led company saw its shares rise 16% after the electric car maker achieved a milestone to roll out full self-driving technology in China. Tesla said on Sunday that local Chinese authorities had removed restrictions on its cars after passing the country's data security requirements. Domino's Pizza – Shares of the pizza chain rose 4.5% on better-than-expected first-quarter earnings. Domino's reported earnings of $3.58 per share versus $3.39 expected by analysts surveyed by LSEG, and said U.S. same-store sales growth increased year over year. Philips – Shares of the Dutch medical device giant rose more than 29%, reaching a two-year high, after Philips agreed to a $1.1 billion settlement in the United States for personal injury cases linked to the recall of some of its sleep apnea devices, millions of which It was recalled in 2021 over concerns it contained parts that carried a potential cancer risk. AT&T – The telecom stock rose 2.8% after Barclays upgraded AT&T to Overweight from Equal Weight, citing a “mismatch” between the company's valuation and its growth prospects. Roku – The streaming TV distributor rose more than 3% after an upgrade to buy from neutral Seaport Research Partners. Analyst David Joyce said investors oversold the stock on fears of streaming competition, and the risk/reward on Roku looks attractive as the company should boost its advertising numbers this year. Apple – Shares rose more than 3% after Bernstein upgraded technology stocks to outperform the market. Analyst Tony Sacconaghi said concern about recent weakness in China may be overblown, and it may be time for investors to “buy fear.” Southwest Airlines – The airline's stock fell 2% after a downgrade to Underperform from Hold at Jefferies. The company cited Southwest's disappointing earnings report on Thursday. The airline said the airline's declining cash position puts its profits at risk. Dave – Shares rose 9.8% after JMP initiated coverage of the fintech company with an outperform rating. According to the company, Dave has achieved financial stability after posting adjusted EBITDA, making the company a “promising investment opportunity” as it expands its product offerings. AMC Entertainment Holdings – Movie theater stock lost 9.7% after AMC previously reported first-quarter results, reporting better-than-expected revenue of $951.4 million but slightly disappointing earnings before interest, taxes, depreciation and amortization (EBITDA) of $31.6 million, according to FactSet. The company also expects its second-quarter box office performance to remain under pressure due to last year's strikes. Paramount Global – Shares of the entertainment company, which will report earnings after the bell, rose 3.7% amid reports that its board is preparing to fire CEO Bob Bakish on Monday. — CNBC's Sarah Min, Tanaya Machel, Yun Li, Lisa Kailai Han and Michelle Fox contributed reporting.
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Stocks making the biggest moves at midday: TSLA, ROKU, AAPL, DPZ
