Stocks making the biggest moves midday: Snap, Electronic Arts, Skyworks & more - Recent News from USA
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Stocks making the biggest moves midday: Snap, Electronic Arts, Skyworks & more

Check out the companies making headlines midday Wednesday:

Capri Holdings — Shares of the company that owns Michael Kors, Versace and Jimmy Choo jumed 11.88 percent for the day after the company reported earnings that beat expectations. Capri Holdings also said Jimmy Choo and Versace sales were strong.

Skyworks Solutions — Shares of the Apple chips supplier surged more than 12 percent after reporting quarterly earnings per share that easily beat expectations. Skyworks also said it would repurchase $2 billion in stock.

ING — The Dutch financial group surged after the company reported better-than-expected pretax earnings Wednesday. ING cited rising interest income, commissions and fees as key tailwinds in the quarter.

Electronic Arts, Take-Two Interactive, Activision Blizzard —Electronic Arts fell more than 13 percent in midday trading, leading lower other major video-game stocks like Take-Two Interactive and Activision Blizzard. EA reported weaker-than-expected sales for the previous quarter, citing “intense competition.” Take-Two also reported earnings and fell more than 12 percent. Activision Blizzard dropped nearly 10 percent.

Plantronics — Shares of the electronics company surged more than 14 percent Wednesday after the company exceeded Wall Street’s expectations for the fourth quarter. Plantronics beat earnings per share estimates by 17 cents.

Shutterfly — Shutterfly shares dropped more than 9 percent after the company reported mixed earnings and lowered its profit and sales guidance for the first quarter. The digital photo service also announced CEO Christopher North will leave the company in August.

Snap — Snap shares rose nearly 27 percent on better-than-expected fourth-quarter results. Analysts expected a lossof 7 cents per share, but the company reported a loss of only 4 cents. The tech company also successfully maintained 186 million daily active users for the second consecutive quarter. Average revenue per user, a key metric for the social media company, was also above estimates.

General Motors —The automaker’s stock climbed more than 1 percent after the company reported adjusted earnings per share of $1.43 for the fourth quarter, topping an estimate of $1.22. GM’s revenue also surpassed analyst expectations.

—CNBC’s Kate Rooney, Yun Li and Nadine El-Bawab contributed to this reports.

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