Stocks making the biggest moves midday: META, MSFT, MKTX, CROX
Check out the companies making the biggest moves in midday trading: Crocs — The shoemaker tumbled more than 10% despite beating fiscal second-quarter expectations and raising its fiscal year forecast. The company’s second-quarter margins were weaker than expected, and estimates for the third quarter were also light. Year to date, Crocs stock has gained more than 16%. Microsoft — The tech giant jumped 15% after reporting quarterly revenue of $90.01 billion, topping estimates of $87.62 billion, per LSEG. Azure growth of 43% at constant currency beat StreetAccount estimates of 40.2% growth. The company also said Azure revenue in the 2026 fiscal year surpassed $100 billion for the first time. Meta Platforms — Shares tumbled more than 9% after the company posted earnings per share of $6.18 for the latest quarter, missing analysts’ estimates by $1.04 per share, according to LSEG. It also forecasted third-quarter revenue between $61 billion and $64 billion, the lower end of which is lighter than the $63.15 billion estimated by analysts. MarketAxess — Shares jumped 30% after New York Stock Exchange-parent Intercontinental Exchange agreed to buy the bond trading platform for $167 per share, or more than $5 billion. The cash deal represents a premium of nearly 33% from Wednesday’s close, and it’s expected to be completed in the first half of 2027. Quanta Services — Shares jumped nearly 15% after Quanta Services beat FactSet consensus on revenue and earnings. The provider of infrastructure solutions also increased its guidance for full-year adjusted EPS, revenue and adjusted EBITDA. Yum Brands — The Taco Bell owner’s stock rose 4% after management outlined a plan to recover from the impact of the cyclosporiasis outbreak on its results. The company’s same-store sales fell 2% in the U.S. so far this quarter, but the company said trends were improving. The multistate outbreak has been linked back to some iceberg lettuce served at its locations. Fair Isaac — The FICO credit score developer plunged more than 16% on mixed results for the fiscal third quarter. While earnings beat a FactSet consensus estimate, revenue came in just below expectations. The lack of a timeline on when the company’s direct license program will launch also put pressure on the stock. “With respect to the DLP, not a lot of new news. We’re literally waiting on certification from one of the [government-sponsored enterprises] so that we can go live,” said CEO William Lansing in a conference call. C.H. Robinson Worldwide — The logistics provider plunged 15% after North American Surface Transportation adjusted gross margin in the latest quarter narrowed to 13.1% compared with a consensus estimate of 14.7% among analysts surveyed by FactSet. Cash from operations of $35.9 million trailed a consensus forecast of $141.1 million. PBF Energy — The oil refiner jumped more than 15% to an all-time high after second-quarter gross margin per barrel of $23.40 topped analysts’ consensus estimate $19.11, according to FactSet data. Cash from operations totaled $1.59 billion against a Street forecast of $901 million, and capital spending was far below what analysts had expected. Teladoc Health — The virtual health-care services company plunged 29% after its second-quarter revenue fell short of expectations. Teladoc reported revenue of $606.9 million, compared to the $615.4 million expected from analysts polled by FactSet. It also lowered its full-year revenue guidance. Norwegian Cruise Line — The cruise operator cut its full-year forecast, sending shares down 7%. Norwegian Cruise Line now expects full-year earnings of $1.50 per share, versus its prior guidance of $1.45 to $1.79 per share. Analysts had expected EPS guidance of $1.66, per FactSet. Bristol-Myers Squibb — Shares added more than 1% following the biopharmaceutical company’s beat on the top and bottom lines. Bristol Myers Squibb saw second-quarter adjusted earnings of $2.04 per share on revenue of $12.97 billion. Analysts polled by LSEG had expected EPS of $1.59 on revenue of $11.75 billion. Starbucks — The coffee retailer saw its shares gain 3% after raising its full-year outlook and reporting growth in same-store sales of 7.9%. Earnings came in at 85 cents per share on an adjusted basis, beating analysts’ estimates of 66 cents per share, according to LSEG. Starbucks reported $9.32 billion in revenue for the quarter, versus $9.16 billion expected. Carvana — The online used-car retailer’s shares fell 12% after the company’s full-year earnings guidance of between $2.7 billion and $3 billion missed Wall Street’s expectations. Estimates included forecasts of $3 billion to $3.2 billion from Deutsche Bank and $4.45 billion from Morgan Stanley. Chipotle Mexican Grill — The burrito chain’s shares rose 13% as the company’s quarterly earnings showed a beat on the top and bottom lines. Chipotle also forecasted same-store sales for the full year will increase by a low single digit percentage, which is higher than its previous outlook of flat same-store sales for the year. Lam Research — Shares of semiconductor equipment manufacturer climbed more than 18% on the back of better-than-expected fiscal fourth-quarter results. Lam earned $1.82 per share, excluding items, on revenue of $6.72 billion. Qualcomm — The chipmaker saw its shares fall 3% on mixed quarterly results. Adjusted earnings of $2.21 per share were slightly off the analyst estimate of $2.23 per share, according to LSEG. Revenue of $9.95 billion beat the estimate of $9.67 billion. Align Technology — The Invisalign maker’s shares fell almost 3% after the company reported quarterly earnings and revenue that just narrowly beat analysts’ estimates, per FactSet. The lower end of the company’s third quarter revenue guidance, between $1 billion and $1.02 billion, was lighter than the $1.02 billion analysts estimated. Baxter International — The medtech company popped roughly 16% on the back of its latest results. Baxter posted adjusted earnings of 56 per share, topping the 37 cents expected from analysts polled by FactSet. Revenue came in at $2.96 billion, versus the $2.08 billion consensus estimate. The company also raised its full-year guidance for EPS and revenue growth. Cigna — The health insurer shed 3% following its second-quarter earnings report. Cigna posted adjusted earnings of $7.78 per share on revenue of $71.67 billion. Analysts polled by LSEG had expected EPS of $7.60 on revenue of $70.34 billion. While the company raised its full-year adjusted EPS guidance by 10 cents, it was in line with expectations, per FactSet. Altria — The tobacco giant lost 8% after its second-quarter adjusted earnings came in at $1.48 per share, missing the FactSet consensus forecast of $1.50 per share. The company also boosted its 2026 capital expenditures to between $375 million and $450 million. It previously anticipated capex of $300 million to $375 million. Sirius XM — Shares fell 5% on the back of the satellite radio provider’s earnings miss. The company posted EPS of 70 cents, versus the 78 cents expected from analysts polled by FactSet. — CNBC’s Scott Schnipper, Fred Imbert, Tanaya Macheel, Christina Cheddar Berk and Ananya Chetia contributed reporting
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