Scholastic, AutoNation, Herc, American Express and more

Check out the companies making headlines in midday trading.

Scholastic — The publisher jumped 14.2% after announcing it would increase its share repurchase amount by $100 million. Traders also appeared to cheer the company’s quarterly results. Scholastic posted $2.26 in earnings per share on revenue of $428.3 million.

American Express — Shares slipped about 4% after the company reported second-quarter revenue of $15.05 billion, falling short of the $15.48 billion expected from analysts polled by Refinitiv. However, American Express’ earnings per share beat expectations.

Herc — Herc dropped more than 5% after Bank of America double-downgraded shares to underperform from buy. Analyst Sherif El-Sabbahy cited the impact from the ongoing writers and actors strike in Hollywood will hurt the equipment rental stock.

AutoNation — AutoNation tumbled 7% during midday trading. The car dealer company reported second-quarter results that exceeded expectations on the top and bottom lines. AutoNation posted adjusted earnings of $6.29 per share on revenue of $6.89 billion. Analysts expected per-share earnings of $5.91 on revenue of $6.78 billion.

Knight-Swift Transportation — Knight-Swift Transportation gained more than 2% in midday trading. The move comes even after Knight-Swift reported second-quarter earnings and revenue that were weaker than expected. The company also issued lackluster guidance.

PPG Industries — Shares rose 1.7% after PPG Industries posted strong second-quarter results. The supplier of paints, coatings and other materials posted adjusted earnings of $2.25 on revenue of $4.87 billion. Analysts polled by StreetAccount expected earnings of $2.14 per share and revenue of $4.84 billion. The company also raised its current-quarter and full-year earnings guidance.

Capital One Financial — Capital One Financial rose about 1% after the financial company topped earnings expectations for the second quarter. Capital One reported adjusted earnings of $3.52 per share, which topped a Refinitiv estimate of $3.23 per share. However, its revenue missed expectations. Total deposits also decreased 2% at the end of the second quarter.

Intuitive Surgical — The health care stock declined 1.6% after Intuitive Surgical posted weaker-than-expected systems revenue for the second quarter. The company posted systems revenue of $392.7 million, lower than the $415.9 million, according to a consensus estimate from StreetAccount.

Sunnova Energy International — Shares fell more than 3% following a downgrade from BMO Capital Markets. The firm said that, although it is “constructive” on growth in the long-term, the current macro environment for the residential solar industry in the U.S. remains challenging.

CSX — CSX slid more than 4% after the transportation company reported disappointing second-quarter revenue. The company reported revenue of $3.7 billion, which was weaker than $3.74 billion expected by analysts polled by Refinitiv. Earnings per share came in line with consensus at 49 cents.

— CNBC’s Michelle Fox, Alex Harring and Hakyung Kim contributed reporting.