Stocks Making The Biggest Moves Midday: Snap, Electronic Arts, Skyworks & More

Traders work on the floor of the New York Stock Exchange.

Brendan McDermid | Reuters

Traders work on the floor of the New York Stock Exchange.

Check out the companies making headlines midday Wednesday:

Capri Holdings — Shares of the company that owns Michael Kors, Versace and Jimmy Choo jumped 11.3 percent for the day after the company reported earnings that beat expectations. Capri Holdings also said Jimmy Choo and Versace sales were strong.

Skyworks Solutions — Shares of the Apple chips supplier surged more than 11 percent after reporting quarterly earnings per share that easily beat expectations. Skyworks also said it would repurchase $2 billion in stock.

ING — The Dutch financial group gained 5.2 percent after the company reported better-than-expected pretax earnings Wednesday. ING cited rising interest income, commissions and fees as key tailwinds in the quarter.

Electronic Arts, Take-Two Interactive, Activision Blizzard —Electronic Arts fell more than 13 percent, leading lower other major video-game stocks like Take-Two Interactive and Activision Blizzard. EA reported weaker-than-expected sales for the previous quarter, citing "intense competition." Take-Two also reported earnings and fell 13.7 percent. Activision Blizzard dropped 10.3 percent.

Plantronics — Shares of the electronics company jumped 19.6 percent Wednesday after the company exceeded Wall Street's expectations for the fourth quarter. Plantronics beat earnings per share estimates by 17 cents.

Shutterfly — Shutterfly shares fell 2.8 percent after the company reported mixed earnings and lowered its profit and sales guidance for the first quarter. The digital photo service also announced CEO Christopher North will leave the company in August.

Snap — Snap shares rose 22 percent on better-than-expected fourth-quarter results. Analysts expected a lossof 7 cents per share, but the company reported a loss of only 4 cents. The tech company also successfully maintained 186 million daily active users for the second consecutive quarter. Average revenue per user, a key metric for the social media company, was also above estimates.

General Motors —The automaker's stock climbed more than 1 percent after the company reported adjusted earnings per share of $1.43 for the fourth quarter, topping an estimate of $1.22. GM's revenue also surpassed analyst expectations.

—CNBC's Kate Rooney, Yun Li and Nadine El-Bawab contributed to this reports.

RECENT NEWS

Stocks Rise After Better-than-expected Jobs Report To Close Out Winning Week

Stocks rose on Thursday following a better-than-expected U.S. jobs report as the economy tries to recover from the coron... Read more

Record Jobs Gain Of 4.8 Million In June Smashes Expectations; Unemployment Rate Falls To 11.1%

Another big contributor to the decline of the jobless rate was a plunge in those on temporary layoff. That total fell by... Read more

17.6 Million Unemployed Americans Probably Won't Return To Their Pre-pandemic Jobs

The share of the workforce currently out of work with no reasonable chance of returning to their jobs is about 11%, or a... Read more

GM, Fiat Chrysler U.S. Auto Sales Tank In Second Quarter As Coronavirus Saps Demand

U.S. vehicle sales in the second quarter for General Motors, Toyota Motor and Fiat Chrysler plunged by more than 30% Read more

Mortgage Demand Falls For The Second Straight Week, Signaling A Potential Slowdown In The Housing Recovery

The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates conti... Read more

Fed's Bullard Warns Of Financial Crisis Risks As Virus Cases Spike, FT Reports

St. Louis Federal Reserve Bank president James Bullard has warned that a growing number of bankruptcies due to the coron... Read more