Stocks making the biggest moves midday: TLRY, ALGT, AVGO
Check out the companies making the biggest moves midday: Quanex Building Products — The building products maker jumped 9% after the company posted better-than-expected earnings for its fiscal fourth quarter. Quanex reported adjusted earnings of 83 cents per share on revenue of $789.8 million. Analysts polled by FactSet expected a profit of 52 cents per share on revenue of $470.7 million. Allegiant Travel — Shares rose more than 5% following an upgrade to buy from hold at Deutsche Bank. “As the company has jettisoned its loss-making resort, management are now 100% focused on running the airline, and various opportunities are likely to surface in the domestic market as the low fare carrier sector continues to evolve,” the bank said. Lantheus — The therapeutics and diagnostics products maker gained more than 6% after a Truist upgrade to buy from hold. “We may be a touch early, but we see LNTH’s 4Q26-2027 growth/profit re-accel. prospects as compelling, and we think investors could begin to position sooner vs. later (i.e. by mid-’26) ahead of a 2H26 rev/profit growth inflection,” Truist analysts said. Tilray Brands — The cannabis stock surged 33% after CNBC learned President Donald Trump is expected to sign an executive order as soon as Monday that would reclassify marijuana. The Amplify Alternative Harvest ETF (MJ) also traded 28% higher. Lululemon — The athleisure brand jumped 9.6% after CEO Calvin McDonald announced his departure . The retailer also beat Wall Street expectations on both lines. RH — The home furnishings firm rose 6.7% after it reported mixed third-quarter results. The company reported $884 million in revenue, coming in line with an LSEG consensus estimate. However, it softened its fourth-quarter EBITDA margin and revenue forecasts. Costco — Shares dipped 1.6% even after Costco topped earnings and revenue expectations in its fiscal first quarter. The company posted per-share earnings of $4.50, more than the $4.27 expected by analysts polled by LSEG. Revenue of $67.31 billion exceeded the forecast $67.14 billion. The stock is down more than 3% this year. Broadcom — Investors’ concerns over artificial intelligence firms continued to swirl, pushing Broadcom’s stock down 10%, despite its posting on Thursday of better-than-expected financial results for the fourth quarter. The semiconductor company booked $1.95 per share, excluding some items, on revenues of $18.02 billion versus analysts’ estimates of $1.86 per share on revenues of $17.49 billion, per LSEG data. The semiconductor firm also raised its first-quarter revenue forecast to $19.1 billion from $18.27 billion, in addition to increasing dividends to 65 cents per share from 59 cents per share. Fermi — Shares plunged 33% after the energy and hyperscale development company reported losing a $150 million funding deal with its Matador power grid’s first potential tenant. The grid would provide 11 gigawatts of support to fast-growing AI data center complexes, eliminating their reliance on already strained public power grids. — CNBC’s Liz Napolitano, Sarah Min and Alex Harring contributed reporting.
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