Stocks making the biggest moves midday: XYZ, ACHR, AKAM, GMED
Check out the companies making the biggest moves midday: XYZ —The financial services provider plunged 10% after reporting third-quarter earnings of 54 cents per share, while analysts polled by LSEG were expecting 67 cents. Block’s $6.11 billion revenue also came IN below the forecast $6.31 billion. Globus Medical — The medical device maker soared 32% after third-quarter earnings, excluding one-time items, and revenue topped analysts’ highest estimates. Globus also raised fourth-quarter earnings per share and revenue forecasts, and Truist and Bank of America increased raised their ratings to buy from hold in reaction, FactSet said. Constellation Energy — The Baltimore-based utility dropped almost 5% after third-quarter adjusted operating EPS of $3.04 per share trailed the analyst consensus of $3.11, according to Street forecasts compiled by FactSet. Constellation, the nation’s largest nuclear power generator, also lowered the top end of its full-year earnings guidance below analysts’ consensus estimate of $9.49. Archer Aviation — Shares dropped 12% after the air taxi developer announced a $650 million stock offering to fund the acquisition of Hawthorne Airport in Los Angeles. The company, which is edging closer to certification of its electric aircraft, is planning to provide air taxi services for the 2028 Olympics. The potential of the offering to dilute the value of Archer shares overshadowed the news of a narrower-than-expected loss in the third quarter. DoubleVerify — Shares fell 18% after the software company’s third-quarter financials trailed estimates and it lowered full-year revenue guidance on revenue. DoubleVerify earned 6 cents a share against analysts’ consensus forecast of 10 cents, and the lowest estimate of 7 cents, according to FactSet. Revenue of $188.6 million missed analysts’ estimate of $190.2 million, and DoubleVerify lowered its full-year revenue growth guidance to 14% from 15%. Akamai Technologies — The cloud security stock rallied 11% on better-than-expected third-quarter earnings . The company earned $1.86 per share, excluding certain items. That beat a FactSet estimate of $1.64 per share. Fourth-quarter earnings guidance also beat estimates. Microchip Technology — The chipmaker tumbled 9% after its fiscal second-quarter results were roughly in line with analyst expectations, underwhelming investors. Fiscal third-quarter revenue guidance was also less than expected. Affirm — The fintech stock climbed 5.5% after posting stronger-than-expected earnings and revenue for the third quarter. Affirm’s quarterly gross merchandise volume also topped the Street’s forecasts. Universal Display — The developer of organic light-emitting diode technology’s stock fell more than 13% after reporting disappointing third-quarter revenue, partially due to the impact of tariffs. However, the company reiterated its 2025 outlook, but guided to the lower half of the $650 million to $700 million range. Celanese — The chemical maker climbed 10% after third-quarter earnings per share and adjusted EBITDA topped analysts’ highest estimate, according to numbers compiled by FactSet. JFrog — The maker of supply chain software surged 24%. Third-quarter earnings excluding one-time items were above analysts’ highest estimate, and Oppenheimer upgraded the stock in reaction, according to FactSet. Opendoor — The online-rental company’s quarterly sales dropped by over 30%, sending shares down more than 3%. The company’s new CEO pitched a new turnaround strategy, saying he’s “refounding Opendoor as a software and AI company.” Take-Two Interactive — The video game maker fell 8% after it announced another delay to the Grand Theft Auto VI release. The much-anticipated game is now set for release in November 2026. Peloton — The connected fitness company rose 5% as it swung to a surprise profit in its fiscal first quarter. Peloton earned 3 cents a share on revenue of $550.8 million. Analysts polled by LSEG expected the company to break even on revenue of $540.7 million. Sunrun — Shares tumbled 18% after the provider of residential solar panel and battery storage systems reported third-quarter results. The company said subscriber additions were 30,104, a 1% decrease compared to the third quarter of 2024. Monster Beverage — The Monster Energy drink maker’s shares jumped 7 after the firm beat on top and bottom lines for the third quarter. The company reported adjusted earnings of 56 cents per share on revenue of $2.2 billion. Analysts surveyed by LSEG expected it to earn 48 cents per share on $2.11 billion in revenue. Sweetgreen — The salad chain slid 12% after it cut its full-year forecast once again as consumers pull back on spending. Sweetgreen expects this year’s sales to be between $682 million and $688 million, down from a prior estimate of $700 million to $715 million. Expedia — The online travel company surged more than 17% as third-quarter results topped estimates amid strong travel demand. Expedia also offered rosy guidance for the fourth quarter as it now expects revenue to grow between 6% and 8%, solidly higher than the 2.7% consensus estimate. Dropbox — The data storage company jumped 8% after it reported better-than-expected third-quarter results. Dropbox earned 74 cents per share, excluding items, on revenue of $634.4 million. Analysts polled by FactSet were anticipating earnings of 65 cents per share on revenue of $624 million. MP Materials — The rare earths miner advanced 6% after posting mixed third-quarter numbers. The company lost 10 cents per share, better than the 18-cent loss estimated by analysts polled by LSEG. Revenue of $53.6 million was short of the consensus $54.9 million estimate. — CNBC’s Christina Cheddar-Berk, Elizabeth Napolitano, Yun Li, Sarah Min and Fred Imbert contributed reporting.
Post Comment