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Stocks making the biggest moves midday: Chevron, Stamps.com, Intel, Roku & more

Maggie Fitzgerald

Check out the companies making headlines in midday trade on Thursday:

Chevron CVX - Chevron jumped more than 2% after the oil company said it would not submit a new offer to acquire Anadarko Petroleum, walking away from the deal with a $1 billion breakup fee. This comes after Anadarko APC said the bid from Occidental Petroleum OXY was superior to Chevron's.

Stamps.com STMP - Shares of Stamps.com plunged over 55% after the company slashed its 2019 earnings index . The postage company expects steeper declines in 2020 and 2021, adding that it will likely be impacted by uncertain contract changes with the United States Postal Service.

Intel INTC - Marking its 11th day down of the past 12 trading days, shares of Intel fell more than 5% after the chipmaker's stock was downgraded to "market perform" from "outperform" at BMO Capital. In a note to investors, BMO cited the downgrade, saying semiconductor stocks do not do well in a decelerating gross margin environment.

Apple AAPL - Shares of Apple were down 2.5% after one of Wall Street's top Apple analysts said he was skeptical of the stock's recent rally. Bernstein's Toni Sacconaghi pointed to the stock's 17 times forward price-earnings ratio in a note to investors.

Hostess Brands TWNK - Shares of the Twinkie maker jumped 6% after first-quarter revenue topped Wall Street expectations on price increases. Sales jumped 7% last quarter, the company said. J.P. Morgan added the stock to its analyst focus list of top picks.

Roku ROKU - Shares of Roku surged 23% after the company reported a narrower-than-expected first-quarter loss. Roku reported a loss of 9 cents per share on revenues of $206.7 million, beating expectations of an expected loss of 25 cents per share and revenues of $191.9 million, according to Refinitiv.The company also estimates that 1 in 3 smart TVs sold in the U.S. during the first-quarter had a Roku operating system, pushing it to raise its guidance.

Etsy ETSY - Shares of Etsy plummeted 11% after the online retailer reported first-quarter revenues that slightly missed analyst's expectations. Etsy reported earnings of 24 cents per share, 10 cents higher than expected, and revenues of $169.3, slightly lower than the $170.1 million expected, according to Refinitiv. The retailer also announced that they will be pausing some of its marketing investments during the upcoming quarter.

Tapestry TPR - Parent company of Kate Spade and Coach surged 9% after reporting mixed earnings before the bell Thursday. Tapestry reported earnings per share of 42 cents on revenue of $1.331 billion. Wall Street estimated earnings per share of 41 cents on revenue of $1.336 billion, according to Refinitiv.

American Eagles Outfitters AEO - American Eagle shares fell 2% after the Royal Bank of Canada downgraded the stock on valuation. The clothing company's rating was lowered to 'sector perform' from "outperform."

Abercrombie & Fitch ANF - Retailer Abercrombie & Fitch fell almost 4% after the stock was downgraded to "underperform" from "neutral" from Wedbush. Wedbush said the clothing maker has less visibility given the looming trade war with China.

Fox Corp FOXA . - Fox rose 3% after beating on the top and bottom lines for earnings on Wednesday, its first report as a stand-alone company. Fox posted earnings per share of 76 cents, topping estimates by 9 cents, according to Refinitiv. Fox's revenue also beat analysts expectations.

Fossil Group FOSL - Watch-maker Fossil soared 12% after a strong earnings report on Wednesday. Fossil reported a loss of 42 cents, less than the 64 cents forecast by analysts. The company also beat on revenue boasting stronger sales in China and India.

Edgewell Personal Care EPC - Edgewell Personal Care plummeted more than 14% after reporting mixed second-quarter earnings results on Thursday. The razor company posted earnings per share of $1.13 on revenue of $546.7 million. Wall Street estimated earnings per share of $1.00 on revenue of $562.2 million, according to Refinitiv.

—CNBC's Jessica Bursztynsky, Nadine El-Bawab , Isabel Soisson and Matt Lavietes contributed to this report.



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