Stocks making the biggest moves midday: Uber, Shake Shack, Adobe and Kroger

Customers pick up their orders from Shake Shack in Madison Square Park in New York.

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Check out the companies making headlines in midday trading.

Uber— Shares of Uber tanked more than 7% after the ride-hailing company reported quarterly loss that topped $1 billion. Uber reported a net loss of $1.16 billion for the third quarter, topping its $986 million loss during the same quarter last year. The company beat estimates on the top and bottom lines however.

Shake Shack— Shares of Shake Shack nosedived a whopping 20% after the fast food company reported disappointing same-store sales growth. Its same-store sales rose 2.0% in the third quarter, shy of the 2.5% growth analysts predicted. Shake Shack’s earnings and revenue topped expectations however.

Kroger— Shares of Kroger soared 10% after the company gave strong guidance for 2020. Kroger said at its investor day it sees full-year 2020 earnings per share between $2.30 and $2.40, while analyst expected earnings of $2.30 per share, according to Refinitiv.

Tapestry— Shares of Tapestry rose more than 4% after it reported 40 cents per share for its third-quarter earnings, 3 cents above estimates, according to Refinitiv. Revenue was slightly below forecasts, but comparable-store sales were stronger than analysts had been forecast.

Chemours— Shares of the chemical company soared more than 10% after reporting strong third-quarter results. Chemours reported sales of $1.4 billion, topping estimates of $1.37 billion, according to Refinitiv. Earnings per share came in line with estimates at 59 cents.

World Wrestling Entertainment— Shares of World Wrestling Entertainment jumped more than 7% after the company announced its has expanded its partnership with Saudi General Entertainment Authority to include a second live event each year. The partnership goes through 2027.

Chesapeake Energy— Shares of Chesapeake Energy plummeted more than 14% after the company said that if oil and natural gas prices remain low it has “substantial doubt” over whether it will be able to continue operations. The company reported a loss of 6 cents for the third quarter, which was ahead of the 10-cent loss analysts were expecting, although revenue and production numbers came up short.

Regeneron Pharmaceuticals— Shares of the pharmaceutical company rose more than 9% after reporting strong third-quarter earnings. The company reported earnings of $6.67 per share on revenue of $2.048 billion. Analysts expected earnings of $6.36 per share on revenue of $1.986 billion, according to Refinitiv.

Adobe— Shares of the cloud company jumped 3% after it gave strong full-year 2020 guidance. Adobe sees earnings per share of $9.75, compared to the $9.70 per share expected by analysts.

Peloton— Shares of Peloton slid 4% after the fitness company posted its first earnings report since its IPO. Peloton reported a net loss of $49.8 million in the first fiscal quarter of 2020. This loss was less than analysts expected but the company’s CEO said it could take time for the company to turn a profit. The company doubled its quarterly revenue to $228 million.

Myriad Genetics— Shares of Myriad tanked more than 40% after the company missed on the top and bottom lines of its third-quarter earnings. Myriad also cut its 2020 earnings forecast because of billing codes.

Xerox Holdings— Shares of Xerox jumped 5% when is said it will sell its 25% stake in Fuji Xerox, its joint venture with Fujifilm, for $2.3 billion.

Groupon— Shares of Groupon fell about 2% after missing on the top and bottom lines of its third-quarter results. The company reported earnings of 1 cent per share, missing estimates of 3 cents per share, according to Refinitiv. Revenue came in at $496 million, well below the forecast $525 million.

Newmont Goldcorp— Shares of Newmont Goldcorp dropped 5% following disappointing third-quarter earnings. The mining company reported earnings of 36 cents per share on revenue of $2.713 billion. Analysts estimated earnings of 39 cents per share on revenue of $2.852 billion, according to Refinitiv.

Beyond Meat— Shares of the alternative meat company rose 6% following an upgrade to outperform from market perform from Bernstein. The firm said Beyond Meat’s risk/reward “skewed towards the upside” as the company is getting through it IPO lock-up expiration.

Boeing— Shares of Boeing jumped 2% after the company’s CEO Dennis Muilenburg said he would forgo all bonuses this year in the wake of the 737 Max crashes.

Mallinckrodt— Shares of the pharmaceutical company sunk more than 6% after missing analyst expectations for its third-quarter revenue. Mallinckrodt reported revenue of $743.7 million, much lower than the $770.8 million forecast on Wall Street, according to Refinitiv.

—CNBC’s Yun Li and Pippa Stevens contributed reporting.

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