Pedestrians pass in front of a GAP store in New York.
Scott Mlyn | CNBC
Check out the companies making headlines in midday trading Friday.
American Express — Shares of the payment firm dipped 1.1% despite American Express topping earnings expectations for the first quarter. American Express reported a profit of $2.73 per share, versus the Refinitiv consensus estimate of $2.44 per share. Earnings got a boost from spending by millennials and Gen-X consumers, the company said.
Verizon Communications — Shares of Verizon fell 6.1% after the company reported a loss of 36,000 monthly phone subscribers during the first quarter, compared with a FactSet estimate of a 49,300 loss. Verizon also posted earnings and revenue for the quarter that were in line with Wall Street forecasts.
HCA Healthcare, Universal Health Services, Intuitive Surgical — The health-care sector was under pressure Friday, with HCA Healthcare as its greatest laggard after reporting disappointing full-year earnings and revenue guidance. HCA dropped 19%, Universal Health Services tumbled 13%, and Intuitive Surgical declined about 13%.
SVB Financial Group — Shares for the regional bank soared more than 11% after the company reported strong earnings. SVB Financial Group earned an adjusted $6.22 per share, compared with a consensus estimate of $5.60 from FactSet. The company’s net interest income also beat expectations.
Kimberly-Clark Corporation — Shares for the consumer products company spiked nearly 9% after Kimberly-Clark exceeded earnings expectations. The firm earned $1.35 per share in its most recent quarter, versus consensus estimates of $1.23 per share from Refinitiv. Kimberly-Clark also raised its full-year organic sales forecast.
Schlumberger — Shares jumped more than 3% after the oilfield services producer beat earnings expectations. Schlumberger earned 34 cents per share, versus analyst expectations of 33 cents per share. Schlumberger also hiked its dividend by 40%.
Gap — Shares for the retailer fell about 20% after Gap announced the chief executive officer of its Old Navy business, Nancy Green, is leaving the firm this week. Gap also cut its outlook for net sales growth this fiscal year.
— CNBC’s Tanaya Macheel contributed reporting.