Peloton, Under Armor, Monster Beverage and others

Check out the companies that made the headlines on Friday afternoon.

Peloton – Peloton shares plunged 7.7% after The Wall Street Journal reported that the home fitness company was looking for potential investors to acquire a 15% to 20% minority stake in the company. The company has struggled with demand since the pandemic, on top of brand issues, supply chain issues and a change in CEO. He will report quarterly results next week.

Monster Beverage – Shares rose 4.4% after Monster Beverage’s first-quarter revenue beat Wall Street estimates. According to StreetAccount, Monster’s revenue was $1.52 billion versus an expected $1.43 billion. Earnings per share in the first quarter was slightly lower than expected.

Cigna – Shares jumped 5.9% after the insurance company’s quarterly earnings beat expectations. Cigna reported earnings of $6.01 per share, compared to $5.18 forecast by analysts polled by Refinitiv. The insurance company reported revenue of $44.1 billion, compared to a consensus estimate of $43.4 billion. Cigna reported growth in its pharmacy benefit management business.

NRG Energy – Shares jumped 9.8% after the company released its latest quarterly data. NRG Energy reported quarterly earnings of $7.17 per share on revenue of $7.9 billion. However, it was not clear if these figures were comparable to the FactSet estimates.

Under Armor – The sneaker and apparel company’s shares fell 25.9% after Under Armor reported unexpected losses and total revenue that fell below analyst estimates as the company struggles to navigate its global supply chain challenges. Under Armor also released disappointing guidance for fiscal 2023.

Illumina – Shares fell 14.6% despite the biotech company reporting better-than-expected results for the previous quarter. Illumina reported quarterly earnings of $1.07 per share on revenue of $1.223 billion. Analysts polled by StreetAccount had expected earnings of 90 cents per share on revenue of $1.219 billion.

News Corporation – Shares of the media company fell 13.7% after the release of quarterly results that were largely in line with expectations. News Corporation reported quarterly earnings of 16 cents per share on $2.5 billion in revenue. Analysts were expecting earnings of 15 cents per share on revenue of $2.5 billion, according to the StreetAccount consensus.

DraftKings – Shares fell 8.9%, reclaiming gains made earlier in the day. DraftKings posted a loss of $1.10 per share on revenue of $417 million. Analysts polled by Refinitiv had expected a loss of $1.15 per share on revenue of $412 million. DraftKings also raised its full-year revenue guidance in its quarterly report.

– CNBC’s Tanaya Machil, Hannah Miao and Samantha Subin provided reporting.