Uber Technologies, Intel, Arista Networks, and More

U.S. equities were mixed at midday after a number of companies reported quarterly earnings. The Dow rose for a sixth-straight session, but the S&P 500 and Nasdaq lost ground.

Uber Technologies (UBER) was the worst-performing stock in the S&P 500 after the ridesharing firm posted a net loss after reporting hundreds of millions in charges related to revaluations of its investments. Its gross bookings also fell short of forecasts on slowing demand in Latin America and the earlier start dates for the Easter and Ramadan holidays.

Shares of Intel (INTC) declined as the chipmaker changed its current quarter guidance after U.S. regulators revoked its license to sell to Chinese telecom Huawei.

Tripadvisor (TRIP) shares also plunged as the online travel site said a special committee ruled against a potential merger. 

Shares of Arista Networks (ANET) jumped as strong demand for its artificial intelligence (AI) products helped the cloud computing networking equipment maker exceed profit and sales estimates. It also raised its guidance and announced a $1.2 billion share repurchase program. 

Reddit (RDDT) shares took off after the social media platform reported a lower-than-expected loss and soaring revenue on strong ad sales as user traffic hit a record high. It was the company’s first quarterly earnings report since going public in March.

Ad revenue declined at Fox (FOXA), but the media company beat earnings estimates as it rebounded from losses incurred by a legal settlement related to a defamation lawsuit.

Oil and gold futures advanced. The yield on the 10-year Treasury note gained. The U.S. dollar climbed versus the euro, pound, and yen. Prices for most major cryptocurrencies declined.