These are Stocks Making the Biggest Moves in Midday Trading: Penn National Gaming, Roku, Western Digital, ViacomCBS, and others

Penn National Gaming: Shares of Penn National (PENN) jumped more than 14% following the announcement of the gaming company’s quarterly revenue that beat analysts’ estimates. In the second quarter, Penn National posted sales of $305.5 million compared to analysts’ estimates of $249.1 million, according to Refinitv data. The gaming company also launched its new betting app, the Barstool Sportsbook which will stay on track for the third quarter.

Roku: The video streaming company, Roku (ROKU), saw a 7% drop in its shares after it posted a unattractive outlook. Roku said the advertising company as a whole still has a lot of uncertainties for the second half of the year. It believes that the industry, especially TV ads will not fully recover to pre-Covid-19 levels until mid-2021. The company also reported a lesser-than-expected loss and also beat analysts’ revenue estimates.

Western Digital: Shares of Western Digital (WDC) fell more than 16% in its mixed results for the fiscal fourth quarter. The company posted results of earnings per share of $1.23 compared to FactSet estimate of $1.22 per share. The hard disk and data storage had its revenue at $4.29 billion compared to analysts’ estimates of $4.34 billion. Western Digital said it expects the coming quarter results to range between 45 cents and 65 cents per share, which is below FactSet’s average of $1.35 per share.

ViacomCBS: ViacomCBS (VIAC) shares surged nearly 5% after the company reported results that beat Wall Street’s expectations. The media company gained $1.25 per share compared to Refinitv estimates of $0.93 per share. In an earnings call, ViacomCBS CEO Bob Bakish said the second quarter was the end for ad declines.

Etsy: Shares of Etsy (ETSY) plummeted nearly 5% even after topping estimates of its quarterly earnings result. The e-commerce company earned 75 cents per share compared to Wall Street’s expectations of 39 cents, and $429 million in revenue compared to Refinitiv estimates of $330 million. The company also gave strong guidance for the current quarter.

Bausch Health: The healthcare company saw an 8% rise in its stock after it said it would spinoff from its eye care unit, Bausch & Lomb, into a separate publicly-traded company. Bausch Health also said it had hopes of getting additional value from the eye care business.

Wix: The website building platform saw a 10% drop in its stock after it reported an unexpected quarterly loss. Wix reported loss of 26 cents per share in the second quarter, compared to the 24 cents per share Wall Street analysts were expecting. However, the company posted a better-than-expected revenue.