Stocks making the biggest moves midday: ORCL, BBWI, GAP
Check out the companies making the biggest moves midday: Oracle — The AI stock fell 4% as investors remained worried about valuations tied to AI continued to dump stocks. Those declines added to Oracle’s and Nvidia’s steep weekly losses. Bath & Body Works — The retailer fell 5%, adding to its 24.8% plunge from Thursday, as analysts around Wall Street downgraded the stock. Morgan Stanley and Goldman Sachs were among the shops that lowered their rating on Bath & Body Works, a day after the company posted third-quarter results that missed expectations. QuidelOrtho — The diagnostics products maker rose 11% after CEO Brian Blaser disclosed the purchase of 23,500 shares. Azenta — Shares rose over 10% after the lab equipment company reported fiscal fourth quarter earnings above analyst expectations. The company posted earnings per share of 21 cents, excluding certain items, on revenue of $159.2 million. Analysts polled by FactSet expected a profit of 19 cents on revenue of $156.2 million. Enviri — The waste management company rallied nearly 29% after it agreed to sell its hazardous and non-hazardous waste division, Clean Energy, to competitor Veolia for $3.04 billion. Enviri is also spinning-off its Harsco Environmental and Rail divisions into New Enviri. The deal is expected to close mid-2026. Bitcoin stocks — Stocks linked to the world’s oldest cryptocurrency were in the red as bitcoin plunged closer to $80,000 as investors fled risk assets. Digital asset mining companies American Bitcoin and Riot Platforms fell 8% and 2%, respectfully. Bitcoin treasury Strategy shed 3%. Galaxy Digital was down 5%. Elastic — The data analytics company tumbled 14% after reporting fiscal second-quarter results that saw a deceleration in cloud growth. Elastic’s adjusted earnings and revenue topped Wall Street’s expectations. Veeva Systems — The cloud solutions provider fell 11% after saying it expects fewer top biopharmaceutical companies to select its Vault CRM. Veeva posted third-quarter earnings of $2.04 per share, excluding one-time items, on $811.2 million revenue versus analysts’ consensus estimate of $1.95 on $792.8 million revenue. Gap — The apparel retailer jumped more than 8% after topping expectations for same-store sales with 5% growth in the latest quarter thanks to its viral “Better in Denim” campaign with Katseye. Excluding the pandemic, same-store sales growth was the fastest since its fiscal 2017 holiday quarter. Ross Stores — The retailer reported better-than-expected revenue of $5.6 billion compared to analysts’ consensus estimate of $5.42 billion, pushing its shares 4% higher. Ross also raised its fourth-quarter earnings guidance, saying “we now expect tariff-related costs to be negligible.” AnaptysBio — The biotech fell 2% after pharmaceutical company Tesaro said it is suing AnaptysBio for allegedly breaching a license agreement for the oncology treatment Jemperli. — CNBC’s Michelle Fox-Theobald and Yun Li contributed reporting.
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