© Reuters
By Sam Boughedda
Investing.com — U.S. indices are down Wednesday. Here are the midday movers on May 4th.
- Uber Technologies (NYSE:) is down around 9.7% midday after it posted a quarterly loss that missed estimates and that beat. The company reported a rise in ride volumes with food deliveries also increasing during the quarter.
- LYFT (NASDAQ:) continued its premarket tumble and has now fallen 33%. The company beat and revenue estimates but its forecast disappointed.
- Starbucks (NASDAQ:) has jumped Wednesday morning, up just under 6% after it posted a . However, earnings missed expectations. CEO Howard Schultz said there will be investment in stores and employees, but added that federal law prohibits them from promising new wages and benefits at stores involved in union organizing.
- After rising and opening higher, Airbnb (NASDAQ:) has given up most of its initial gains, currently trading 1.4% above Tuesday’s close. Its share price climb came on the back of its earnings and beat. The company benefitted from the anticipated travel bounce.
- Match Group (NASDAQ:) shares are down just 3% midday, despite a larger tumble earlier in the session after the company posted and revealed its chief executive Shar Dubey will step down. Dubey will be replaced by Bernard Kim, president of gaming company Zynga (NASDAQ:), effective May 31.
- IDEXX Laboratories (NASDAQ:) has declined 7.6% after the company posted an miss. The company also cut its outlook based on near-term impacts on veterinary clinical visits from factors such as constraints on vet clinic capacity, and $10 million in projected revenue reductions related to the war in Ukraine. They said there is also a $40 million impact from the recent strengthening of the U.S. dollar.
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