Take a look at the companies making headlines in afternoon trading: Apple – Shares rose about 2% ahead of the iPhone maker's second-quarter results, which were due after the closing bell. Peloton – Shares fell 13% after the fitness equipment company announced Thursday that CEO Barry McCarthy will resign and the company will lay off 15% of its workforce, or about 400 employees, to “bring expenses in line with revenues.” Peloton's fiscal third-quarter results also fell short of Wall Street's earnings and revenue expectations. Qualcomm – Shares rose more than 9% after the chipmaker on Wednesday posted $2.44 per share in adjusted earnings for the latest quarter, which LSEG said was the exceeds analyst estimates of $2.32 per share. The top end of Qualcomm's current quarter revenue forecast exceeded Street expectations, with the company citing demand for smartphones that require the most advanced chips. Wayfair – The furniture retailer rose down 13.5% after beating expectations on both lines. Wayfair said it lost 32 cents per share on an adjusted basis, narrower than the 44-cent loss estimate from analysts surveyed by LSEG. Revenue came in at $2 .73 billion, above the consensus forecast of $2.64 billion Carvana – Shares rose more than 32% after the used car seller posted its best-ever quarterly earnings report. Cigna – The insurer's shares fell 2.5% despite beating Wall Street expectations in the first quarter. Cigna also reaffirmed its previous guidance for the full year. Moderna – The vaccine maker rose more than 7% after posting a smaller-than-expected loss in the first quarter as it cut costs. Moderna also reiterated its full-year guidance. DoorDash – The food delivery service fell nearly 14% after DoorDash posted a first-quarter loss of 6 cents per share, wider than the 4 cents per share loss expected by analysts polled by LSEG. However, the company's revenue came in at $2.51 billion, above the $2.45 billion consensus. Etsy — Shares tumbled 15% after reporting a first-quarter profit loss. Etsy reported adjusted earnings of 48 cents per share, while analysts surveyed by LSEG called for 49 cents per share. Revenue of $646 million was in line with expectations. Zillow – The real estate market operator saw its shares fall 5% after issuing weak guidance for the current quarter. Zillow estimated second-quarter revenue at $525 million to $540 million, while analysts had expected $559.2 million, according to FactSet. eBay – Shares fell nearly 3% after the e-commerce company issued lower-than-expected guidance for the second quarter. EBay said it expects sales of between $2.49 billion and $2.54 billion, while analysts polled by LSEG forecast $2.56 billion. Shake Shack – The restaurant chain rose more than 2% in midday trading after first-quarter adjusted earnings of 13 cents per share beat Wall Street forecasts calling for 10 cents, according to analysts surveyed by LSEG. Turnover was largely in line with expectations. Qorvo – Semiconductor stocks are down more than 14% after weaker-than-expected first-quarter earnings estimates. Qorvo now expects earnings of 60 to 80 cents per share, while analysts polled by FactSet expected $1.27. – CNBC's Pia Singh, Tanaya Macheel, Samantha Subin, Hakyung Kim, Lisa Kailai Han and Alex Harring contributed reporting.
