Stocks making the biggest moves midday: U, RIVN, PINS, TREX
Check out the companies making the biggest moves midday: Unity Software — The video game company rallied 8% on better than-expected results for the third quarter. Unity’s fourth-quarter revenue guidance also exceeded expectations. Allegiant Travel — The travel stock surged 22% after the company hiked its full-year earnings outlook. Allegiant expects 2025 earnings to top $3 per share, above a prior guidance of $2.25 per share. Perrigo – The pharmaceutical stock fell 20% on mixed third-quarter results. Earnings per share of 80 cents, excluding certain items, beat a FactSet estimate of 76 cents per share. However, revenue missed expectations. Perrigo also cut its full-year earnings outlook. Rivian — The electric vehicle maker rallied 22% on third-quarter results that beat the Street. Additionally, the company said the launch of its R2 vehicle remains on track for the first half of 2026. Monro — The auto service chain jumped 18% after billionaire investor Carl Icahn took a significant stake to become the largest single shareholder. Icahn disclosed in a filing ownership of 4,439,914 shares, representing a 14.8% stake in Monro. Solaredge Technologies — The solar stock soared 21% on a third-quarter report that beat the Street. Solaredge lost 31 cents per share, excluding certain items. Analysts polled by FactSet expected a loss of 40 cents per share. Revenue was also above expectations. Wolverine World Wide — The footwear manufacturer fell 26% despite reporting better-than-expected third-quarter results. The company earned 36 cents per share, excluding certain items. That’s above a consensus of 33 cents per share from FactSet. Revenue of $470.3 million was also above FactSet’s estimate of $462.6 million. Advanced Micro Devices — The semiconductor maker fell 2% after sharing adjusted margin guidance for its current quarter that was in line with estimates. However, Advanced Micro Devices beat expectations for both its third-quarter earnings and revenue . Arista Networks — The cloud networking company lost 7% after saying that it sees its fourth-quarter revenue coming in a range of between $2.3 billion to $2.4 billion, which encompasses the $2.33 billion analysts polled by FactSet had forecast. Arista posted a third-quarter beat on both the top and bottom lines. Teradata — Shares surged 26% after the cloud data company posted third-quarter adjusted earnings of 72 cents per share and revenue of $416 million. This beat the respective earnings and revenue forecasts of 54 cents and $406.3 million from FactSet. The company also full-year revenue now coming in at a higher range. Lumentum — The telecommunications stock soared 26% after posting fiscal first-quarter earnings and revenue that beat Wall Street forecasts. Lumentum also shared earnings and revenue guidance for its second quarter that came in above what analysts were expecting, according to FactSet. Zeta Global — The marketing stock popped 16% on a third-quarter adjusted EBITDA and revenue beat. The company also shared forward adjusted EBITDA and revenue guidance for its current quarter, fiscal 2025 year and fiscal 2026 year that was above FactSet’s expectations. Pinterest — The social media company fell more than 21% on weaker-than-expected earnings . Pinterest posted a profit of 38 cents per share, excluding certain items, while analysts polled by LSEG expected earnings of 42 cents per share. Super Micro Computer — Shares dropped 9% after the company posted fiscal first-quarter results that missed expectations. The company earned an adjusted 35 cents per share on revenue of $5.02 billion. Analysts polled by LSEG expected a profit of 40 cents per share on revenue of $6 billion. Kennedy-Wilson — The property management company rallied 30% after receiving a takeover offer from Chairman and CEO William McMorrow, as well as Fairfax Financial, for $10.25 per share in cash. That represents a premium of 37.2% from Tuesday’s close. Upstart Holdings — Shares fell 14% after the company’s third-quarter revenue of $277.1 million fell short of expectations. Earnings for the quarter, however, topped estimates. Additionally, the company lowered its full-year revenue guidance. Its fourth-quarter revenue and adjusted EBITDA forecasts came up short as well. Trex — The decking and railing products manufacturer tumbled 29% after slashing its full-year sales outlook due to weak demand. Trex expects full-year net sales to range from $1.15 billion to $1.16 billion, flat with 2024’s reported sales, versus its prior guidance of 5% to 7% growth. Analysts polled by FactSet were expecting guidance of 6.7% growth. The company’s third-quarter adjusted earnings and revenue also disappointed. Kratos Defense & Security Solutions — The aerospace and defense stock tumbled 14% after sharing fourth-quarter adjusted EBITDA and revenue guidance that came below what analysts were expecting, according to FactSet. Kratos also expects its first-quarter revenue in a range below consensus. However, the company posted a third-quarter earnings and revenue beat. Axon Enterprise — The Taser manufacturer plunged 10% following a big earnings miss. Axon earned $1.17 per share, excluding certain items, in the third quarter. Analysts polled by LSEG expected a profit of $1.52 per share. Adjusted EBITDA guidance for the fourth quarter. Veracyte — Shares climbed 26% after the diagnostics company posted adjusted third-quarter earnings of 51 cents, exceeding the 32 cents analysts polled by FactSet had expected. Its $131.9 million revenue also beat the $125 million consensus estimate. Veracyte also raised its full-year revenue guidance. Bio-Techne — The life sciences stock slipped 2.7% after the company reported fiscal first-quarter revenue of $286.6 million, missing the $291.3 million analysts surveyed by FactSet had expected. Bio-Techne’s fiscal first-quarter adjusted earnings of 42 cents were in line with expectations. Zimmer Biomet — The medical device maker shed 14% after posting third-quarter revenue of $2 billion, missing the $2.01 billion analysts had expected, per FactSet. Zimmer Biomet’s adjusted third-quarter earnings came in at $1.90 per share, exceeding the forecast $1.87. Humana — The health insurer’s stock dropped 8% after the firm reported lower third-quarter profit and cut full-year earnings outlook. Rising medical costs pressured margins for the company’s key Medicare Advantage business. — CNBC’s Sean Conlon, Michelle Fox, Itzel Franco, Yun Li and Elizabeth Napolitano contributed reporting.
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