Check out the companies making headlines in midday trading.
Zoom reported an adjusted 20 cents per share for the quarter, which was ahead of Street estimates of 9 cents, according to estimates from Refinitiv. Zoom also doubled its revenue guidance for the year.
Shares of Zoom are up more than 225% this year.– Shares of Simon Property Group skyrocketed 14.5% to become the biggest gainer in the S&P 500 in midday trading. The biggest U.S. mall owner is directly benefiting from the economic reopening after shutting down its locations for weeks to curb the spread of the coronavirus. Warner Music – Warner Music soared more than 15% on its first day of trading as a public company. Warner, the globe's third-largest music label, began trading under the symbol "WMG" on the Nasdaq, after pricing its offering of 77 million Class A stock at $25 per share.– Shares of the restaurant chain soared more than 18% after the company reported positive initial results for its newly reopened restaurants. The company said that about 25% of its establishments are now opened with limited dining room capacity and that they are capturing about 75% of last year's sales. The company said it plans to have 65% of its restaurants, which include the flagship chain and other brands, open for some dine-in seating by mid-June.
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