Take a look at the stocks making headlines in midday trading.
— Shares of beauty company plunged more than 7% following its disappointing quarterly results. Estee Lauder reported a loss of 53 centers per share, far wider a loss than the 19 cents per share expected. Revenue also missed estimates. Estee Lauder made $2.43 billion in revenue, below the forecast $2.45 billion. Estee Lauder said it launching a two-year initiative to rebalance its investments, which will include a reduction in its retail footprint and increased emphasis on digital sales.
— Shares of the German biotech company jumped more than 14% after the company announced that it is in advanced talks with the European Commission to supply up to 405 million doses of a potential Covid-19 vaccine. The company's vaccine candidate is currently in phase one trials.– Shares of Tesla jumped nearly 6% to hit an all-time high of $1994.75, approaching the $2,000 mark.
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