Carnival, FedEx, Zendesk and more

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The Carnival Paradise cruise ship arrives in port on June 30, 2017 in Havana, Cuba.

Alexandre Creutzmann | photo mambo | Getty Images

Here are the stocks making headlines in midday trading:

Carnival Cruise Lines – Shares of Carnival Cruise Lines jumped 11% after the travel company said it had its best booking volumes since the pandemic began during the second quarter. Carnival’s results missed estimates on top and bottom earnings. The company also reported that cash from operations turned positive in April and was positive for the second quarter.

FedEx – Logistics and delivery stock rose nearly 7% after FedEx said it expected adjusted profit to rise in its current fiscal year. FedEx reported mixed results for its fiscal fourth quarter, with adjusted earnings of $6.87 per share on $24.39 billion in revenue. Analysts polled by Refinitiv were looking for earnings per share of $6.86 on $24.56 billion in revenue.

Zendesk – The software company’s shares jumped 28% after the company announced a buyout deal with a group of private equity firms, including Hellman & Friedman and Permira. The all-cash deal values ​​Zendesk at approximately $10.2 billion.

Microsoft – The tech company saw its shares rise about 2% after Citi named it a “top pick” and said the software stock sale was largely done. Citi is confident of Microsoft’s double-digit growth and long-term pricing power, it said in a note Friday.

CarMax – Auto dealership stock rose 6% after CarMax beat estimates on the top and bottom results. The company reported earnings per share of $1.56 on revenue of $9.31 billion. Analysts polled by Refinitiv were looking for $1.49 in earnings per share on $9.06 billion in revenue.

Bausch Health Companies – The health care stock jumped 18% after Bausch announced that Joseph Papa had resigned from its board of directors. Papa is replaced by investor John Paulson, who will take over as chairman of the board.

LendingTree – The financial services stock fell more than 8% after LendingTree lowered its second quarter forecast. The company now expects revenue between $259 million and $264 million, down from a range of $283 million to $293 million previously. The company said in a statement that inflation and rising interest rates have put pressure on its business.

Wolfspeed – The semiconductor stock jumped 11% after Goldman Sachs upgraded Wolfspeed to buy from neutral. Goldman said in a note that it was “tactically more bullish” on Wolfspeed after the stock’s recent declines.

Iron Mountain – Shares jumped more than 3% after Barclays launched coverage of Iron Mountain with an overweight rating. Analysts said the document storage company was up nearly 21% from Thursday’s close as the business has “proven to be resilient” in recent years.

Wells Fargo – Shares jumped more than 7% after the Federal Reserve said Wells Fargo, among other major banks, had passed the central bank’s annual stress test. The central bank said Wells Fargo had maintained strong capital levels to weather a severe recession. Wells Fargo has not seen growth in its stress capital cushion, unlike some of its peers.

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