Check out the companies making headlines in midday trading. Peloton — Shares soared 28% after the exercise equipment company posted better-than-expected results for its fiscal first quarter and raised its full-year profit outlook. Peloton also announced that Ford executive Peter Stern will serve as its next CEO starting January. Carvana — The used car platform rose 23% after posting a third-quarter earnings and revenue beat . Carvana also said that its full-year adjusted earnings before interest, taxes, depreciation and amortization would be “significantly above the high end” of its previous target range. Norwegian Cruise Line Holdings — The cruise stock popped 10% after a third-quarter report that exceeded Wall Street expectations. Norwegian reported 99 cents in adjusted earnings per share on $2.81 billion of revenue. Analysts surveyed by FactSet were looking for 92 cents and $2.77 billion of revenue. The company also raised its full-year earnings guidance. Etsy — Shares rallied 8% after the online e-commerce platform posted third-quarter results that surprised to the upside. Etsy reported adjusted EBITDA of $183.6 million on $662.4 million in revenue. That’s higher than the adjusted EBITDA of $177.4 million on $652.5 million in revenue that analysts polled by FactSet had expected. Altria Group — The tobacco stock surged 7% after reporting third-quarter adjusted earnings per share of $1.38, while consensus had called for $1.35 per share, according to FactSet. Revenue of $5.34 billion also surpassed the forecast $5.33 billion. Microsoft — The tech titan slipped 5% after forecasting weaker revenue for the current quarter than analysts had expected. Microsoft called for revenue ranging between $68.1 billion to $69.1 billion, while analysts had forecasted $69.83 billion, according to LSEG. However, Microsoft posted fiscal first-quarter results that topped analysts’ estimates. eBay — Shares declined 9% after the online marketplace issued disappointing fourth-quarter guidance . For the current quarter, eBay sees revenue coming in between $2.53 billion to $2.59 billion. Analysts had called for $2.65 billion in sales, according to StreetAccount. On the other hand, the company posted a third-quarter earnings and revenue beat. Coinbase — The cryptocurrency exchange platform shed 10% after posting a third-quarter earnings and revenue miss . Coinbase’s revenue came in at $1.21 billion, while analysts polled by LSEG anticipated a top line figure of $1.26 billion. Uber — The stock plunged more than 10% after the ride-sharing company’s third-quarter gross bookings missed Wall Street’s expectations . Uber posted $40.97 billion in gross bookings, while analysts were looking for $41.25 billion, according to StreetAccount. MGM Resorts — The casino operator fell 10.6% after posting third-quarter adjusted earnings of 54 cents per share, down from 64 cents per share a year ago. MGM also reported net revenue of $4.18 billion, below FactSet’s consensus of $4.21 billion. Super Micro Computer — The AI server maker slumped 13%. That comes a day after shares shed 33% and posted their worst day since 2018 after revealing that Ernst & Young had resigned as its auditor . Teleflex — Shares plummeted 15.6% after the medical device provider reported third-quarter revenue of $764.4 million, below FactSet’s estimated $768.7 million. The company also cut its full-year revenue guidance. Robinhood — The brokerage firm declined 14.6% after posting third-quarter per-share earnings of 17 cents, below the 18 cents per share analysts polled by LSEG had expected. Robinhood’s revenue of $637 million also came below the forecasted $658 million. In an earnings call, Robinhood’s chief financial officer blamed marketing promotions for weighing down revenue. Estee Lauder — Shares tumbled more than 20% after the luxury cosmetics titan pulled its forecast for annual financial performance . The company, which said China demand remains fraught, also slashed its quarterly dividend. — CNBC’s Sean Conlon, Alex Harring, Jesse Pound and Samantha Subin contributed reporting.
Check out the companies making headlines in midday trading: T-Mobile — Shares pulled back 11% after the company’s wireless subscribers for the first quarter missed Wall Street estimates. T-Mobile reported 495,000 postpaid phone additions in the first-quarter, while analysts polled by StreetAccount were looking for 504,000. Alphabet — The Google parent company gained about 2% on the heels of better-than-expected first-quarter results . Alphabet reported $2.81 per share on revenue of $90.23 billion, while analysts polled by LSEG forecast $2.01 in earnings per share and $89.12 billion in revenue. Skechers — Shares fell 4.8% after the footwear maker posted weaker-than-expected revenue for the first quarter and withdrew its 2025 guidance due to ” macroeconomic uncertainty stemming from global trade policies .” The company’s earnings for the quarter came in above analysts’ estimates, however. Gilead Sciences — The biopharmaceutical stock fell 2.5% after first-quarter revenue came in at $6.67 billion, missing the consensus forecast of $6.81 billion from analysts polled by LSEG. However, the company earned $1.81 per share, excluding items, in the quarter, beating Wall Street’s estimate of $1.79 a share. Saia — Shares of the shipping company fell 31% after first-quarter results missed estimates and showed a slowdown in March. Saia reported $1.86 in earnings per share on $787.6 million in revenue. Analysts surveyed by FactSet were expecting $2.76 in earnings per share on $812.8 million in revenue. BMO Capital Markets downgraded the stock to market perform from outperform and said the issues were “company specific.” Intel — The chipmaker declined 7% after Intel’s current quarter missed investors’ expectations. Intel forecast revenue in the June quarter of $11.8 billion at the midpoint, while consensus forecasts called for $12.82 billion, per LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce both its operational and capital expenses. Boston Beer — Shares of the Samuel Adams brewer were more than 1% higher after better-than-expected first-quarter results. Boston Beer notched earnings per share of $2.16 on revenue of $453.9 million, while analysts polled by FactSet were looking for 56 cents per share on revenue of $435.6 million. Boston Beer cautioned that tariffs could hurt full-year earnings. Tesla — The Elon Musk-helmed electric vehicle company surged 10%. Shares have advanced more than 17% this week as the broader market tries to recover from a steep sell-off for much of April. — CNBC’s Jesse Pound, Alex Harring and Sean Conlon contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
Check out the companies making headlines before the bell: Meta Platforms — The Facebook and Instagram parent jumped about 3%. Meta cut staff in its Reality Labs division, CNBC reported. Alphabet — The Google and YouTube owner climbed more than 4% after first-quarter results topped Wall Street expectations. Alphabet earned $2.81 per share on $90.23 billion in revenue for the quarter, while analysts surveyed by LSEG had estimated $2.01 per share and $89.12 billion in revenue. T-Mobile — Shares of the telecommunications company fell 5.5% after it reported fewer first-quarter wireless phone subscribers than the Street expected, seeing 495,000 postpaid phone additions versus analysts’ call for 504,000, according to StreetAccount. Earnings and revenue for the first quarter topped Street estimates. Intel — The chipmaker fell 7.2% after the outlook for the current quarter disappointed investors. Intel guided for revenue in the June quarter to come in at $11.8 billion at the midpoint, less than consensus calls for $12.82 billion, according to LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce its operational and capital expenses. Gilead Sciences — The biopharmaceutical stock slid 3.9% after posting first-quarter revenue of $6.67 billion, missing the consensus estimate of $6.81 billion from analysts polled by LSEG. Gilead earned $1.81 per share, excluding items, in the quarter, while Wall Street penciled in $1.79. Skechers — The footwear maker slumped 6% after reporting lower-than-expected first-quarter revenue and withdrew its 2025 forward financial forecasts on account of ” macroeconomic uncertainty stemming from global trade policies .” Skechers’ bottom-line results came in above analysts’ forecasts. Charles Schwab — The financial services provider advanced 1.4% after Goldman Sachs upgraded shares to buy from neutral, calling Schwab a resilient growth stock amid an uncertain backdrop. Hasbro — The toy company rose about 1% one day after soaring 15%. Citigroup raised its investment opinion to buy from neutral, saying Hasbro’s stronger-than-expected Wizards of the Coast business outweighs any uncertainty stemming from tariff policy, according to analyst James Hardiman. Boston Beer — Shares of the Samuel Adams brewer rose nearly 3% after first-quarter results beat expectations. Boston Beer generated $2.16 in earnings per share on $453.9 million of revenue, while analysts surveyed by FactSet looked for 56 cents per share on $435.6 million in revenue. Boston Beer warned in its outlook that tariffs could hurt full-year earnings. — CNBC’s Alex Harring and Jesse Pound contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
“I think having that professionally managed portfolio is really beneficial to clients,” Coyne told CNBC’s “ETF Edge” this week. “We’re seeing just… greater volatility [and] uncertainty across both the equity and fixed income markets.“
According to Coyne, the T. Rowe Price Capital Appreciation Equity ETF suits investors who are looking for long-term growth.
“The objective of the fund is to outperform the S&P 500 with lower volatility and greater tax efficiency,” he said. “It’s also a more concentrated portfolio, typically holding around a hundred names.”
The T. Rowe Price Capital Appreciation Equity ETF is down about 5% so far this year while the S&P 500 is off about 7% However, the ETF is up close to 8% over the past year — roughly identical to the S&P 500’s performance.
Coyne notes the T. Rowe Price U.S. Equity Research ETF follows a similar strategy, but with a heavier weighting in top tech stocks.
“This is more of a large-cap growth product [T Rowe Price U.S. Equity Research ETF],” he said. “There are components of characteristics of both passive and active here. This fund is actually managed by our North American directors of research. So again, strong fundamental research is going into the stock selection.”
Both the T. Rowe Price U.S. Equity Research ETF and S&P 500 are down around 7% since the beginning of the year. Meanwhile, the fund is up almost 9% over the past year. That’s less than one percent better than the S&P 500’s performance.
T. Rowe Price U.S. Equity Research ETF vs. S&P 500
‘Some form of bear market’
Strategas Securities’ Todd Sohn thinks investment demand for active managers will continue to be strong.
“This is the type of the environment where it [active management] can actually shine,” the firm’s senior ETF and technical strategist said. “We are in some form of bear market. This is where the active manager really can come into hand and offer their solution they are doing right.”