Stocks making the biggest moves midday: TXN, URI, WEX, PENN
Check out the companies making the biggest moves midday: Texas Instruments — The semiconductor stock soared 19% after the company forecast that its current-quarter earnings would come in the range of $1.77 to $2.05 per share, versus the $1.57 consensus, according to LSEG. Similarly, it sees its revenue coming in between $5 billion to $5.4 billion, while analysts were anticipating $4.86 billion. Texas Instruments also posted a beat on both the top and bottom lines for its first quarter. American Airlines — Shares of the airline rose more than 4% after first-quarter figures came in above expectations. American did cut its full-year earnings outlook, citing higher fuel costs . Penn Entertainment — The gaming stock rallied 15% after the company’s first-quarter results beat expectations, fueled by strength from the company’s regional casinos and interactive segments. Wex — Shares tumbled 17% after the company, which processes payments for commercial and government vehicle fleets, urged shareholders to vote only for Wex nominees to its board. Investor Lauren Taylor Wolfe’s Impactive Capital is looking to replace one-third of Wex board members. United Rentals — Shares jumped more than 23% after the equipment rental company boosted its full-year sales forecast to a range of $16.9 billion to $17.4 billion. The company said it sees momentum heading into its busiest season. Honeywell — The industrial giant’s stock dropped 2.6% after the company reported mixed first-quarter results and issued lackluster second-quarter guidance. In Q1, adjusted earnings of $2.45 per share beat an LSEG estimate of $2.32 per share, though revenue of $9.1 billion was below consensus. For Q2, the company sees EPS between $2.35 and $2.45, below a FactSet forecast of $2.56. Lululemon — Shares of the athleisure company fell more than 11% after it announced Heidi O’Neill as the new CEO. O’Neill will take over on Sept. 8. She previously has worked at Nike, Levi Strauss, Hyatt Hotels and Spotify. Nokia — Shares popped 11% after the company posted a slight beat on earnings and missed on revenue in its first-quarter report. Its operating profit came in above expectations, and the telecommunications company added its tracking toward the higher end of its full-year guidance forecast. Mobileye Global — Shares of the autonomous driving tech company climbed 5% after it reported better-than-expected Q1 results. Mobileye earned an adjusted 12 cents per share on revenue of $558 million. Analysts polled by FactSet expected a profit of 8 cents per share on revenue of $519.9 million. Full-year revenue guidance was also better than expected. Avis Car Budget — The car rental company’s stock shed more than 43%, putting it on track to add to its massive 37.8% plunge from Wednesday. The stock is still up more than 71% for the month. International Business Machines — The technology giant’s stock slid 9% after IBM failed to raise its full-year guidance after posting an earnings beat. IBM reported first-quarter earnings of $1.91 per share, excluding items, beating forecasts of $1.81, according to LSEG. The company’s $15.92 billion in revenue also came in above the expected $15.62 billion. Tesla — Shares fell more than 3% after CEO Elon Musk warned of substantial increases in capital spending to fund the company’s self-driving and humanoid robot ambitions. Shares had climbed as much as 4% just after the electric vehicle maker posted first-quarter adjusted earnings of 41 cents per share, beating the 37 cents analysts polled by LSEG had expected. However, Tesla’s $22.39 billion in revenue came in below the $22.64 billion consensus estimate. CSX — The transportation stock popped 7% after the company posted first-quarter earnings of 43 cents per share, beating the expected 39 cents analysts surveyed by FactSet had penciled in. However, CSX’s $3.48 billion revenue came in slightly below the forecast $3.49 billion. Southwest Airlines — Shares fell 2.5% after the airline carrier posted first-quarter adjusted earnings of 45 cents per share and revenue of $7.20 billion, falling short of the 47 cents and $7.27 billion in revenue analysts were expecting, per FactSet. ServiceNow — The AI-powered software company reported first-quarter earnings and revenue that topped Wall Street expectations. However, shares tumbled more than 18% as the integration of recently acquired Armis weighed on its outlook. For full-year 2026, the company’s subscription revenue should grow more than 22% to a range of $15.74 billion to $15.78 billion, including the Armis cybersecurity business. Previously, the company expected subscription revenue of $15.55 billion. Molina Healthcare — Shares of the managed health-care company rose 10.3% after it reaffirmed its 2026 forecast. Molina earned $2.35 per share, excluding items, in the first quarter on revenue of $10.8 billion. Analysts surveyed by FactSet anticipated Molina would earn $1.90 per share on revenue of $10.87 billion. — CNBC’s Lisa Kailai Han, Davis Giangiulio Christina Cheddar Berk contributed reporting.
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