Robinhood, Kraft Heinz, Lyft, General Motors and more

Find out which companies are making the midday headlines.

Robinhood Markets – Robinhood shares rose in wild trading as the new public online brokerage surpassed its IPO price of $ 38 per share. The brokerage app topped its first IPO volume of 102.5 million shares as of July 29, as it traded over 104.6 million shares at noon on Wednesday, according to Gina Francolla from CNBC. The stock was last seen up 37% to around $ 64.

Match Group – Shares of the dating app fell more than 5% following a disappointing earnings report. Match returned 46 cents a share for the second quarter, missing Wall Street’s forecast by 6 cents, according to Refinitiv. Still, Match’s earnings exceeded estimates amid the pickup in the dating scene as the economy continued to reopen.

Kraft Heinz – Food inventory fell about 5.1% on Wednesday after the company said net sales and organic sales volumes were down year-over-year. Kraft Heinz beat upper and lower earnings estimates in its second quarter report.

CVS Health – CVS shares fell 1.9% at midday, even after reporting second quarter earnings and earnings per share above consensus expectations. Pharmaceuticals and drugstore same-store sales rose 12.3%, better than expected. Separately, CVS said it was raising its minimum wage for employees to $ 15 an hour.

Lyft – Shares of the rideshare company fell around 9% after reporting a quarterly loss of 5 cents a share on Tuesday night. That was even less than the loss of 24 cents per share estimated by Wall Street analysts. The company said demand continued to grow in July, even with the increase in Covid-19 cases.

General Motors – Shares of General Motors fell 8.4% after the automaker missed Wall Street earnings expectations in the second quarter. GM said earnings of $ 1.97 per share, lower than analysts’ estimate of $ 2.23 per share, according to Refinitiv. Despite record operating profit, GM’s quarterly profits were hit by approximately $ 1.3 billion in warranty recall fees. The company has also raised its annual targets.

Activision Blizzard – Shares of the video game company rose about 2.6% after Activision Blizzard beat earnings estimates in the second quarter. The company earned 91 cents per share, excluding revenue estimates of $ 1.92 billion. Analysts were expecting 76 cents and $ 1.90 billion in revenue, according to Refinitiv estimates. The company also gave upbeat advice, in part thanks to the strength of “Candy Crush” and “Call of Duty”.

– CNBC’s Hannah Miao, Yun Li, Pippa Stevens, Jesse Pound and Tanaya Macheel contributed reporting.