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News for India > Finance > Stocks making the biggest moves midday: Boeing, Vistra, Match Group and more
Finance

Stocks making the biggest moves midday: Boeing, Vistra, Match Group and more

Last updated: August 1, 2024 1:35 am
10 months ago
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Check out the companies making headlines in midday trading: Pinterest — Shares tumbled more than 14% after the social media company’s forward guidance came in below estimates. The company issued third-quarter revenue guidance in a range between $885 million and $900 million, below the $908.6 million consensus estimate analysts polled by FactSet were forecasting. Second-quarter earnings and revenue topped expectations, however, according to LSEG. Vistra — The stock soared nearly 15% after the Texas-based power company announced that the Nuclear Regulatory Commission has approved its request to continue operating the Comanche Peak Nuclear Power Plant. The license renewal extends Vistra’s operations of the 2,400-megawatt plant through 2053. Match Group — Shares of the Tinder dating app owner moved more than 13% higher after the company posted second-quarter revenue of $864 million. That is above the $856.5 million estimate that analysts polled by FactSet had expected. Match also said it plans to exit live-streaming services in its dating apps and sunset Hyperconnect’s live-streaming app “Hakuna,” which provides services mainly in Japan and Korea. Advanced Micro Devices — Shares gained more than 4% following the chipmaker’s earnings and revenue beat for the second quarter. AMD posted adjusted earnings of 69 cents per share on revenue of $5.84 billion. Analysts surveyed by LSEG were expecting 68 cents per share on revenue of $5.72 billion. Nvidia and Qualcomm shares rallied in sympathy around 13% and more than 8%, respectively, following the results. Arista Networks — Shares of Arista Networks popped more than 11% after the networking company posted second-quarter results that topped Wall Street’s estimates on the top and bottom lines. The company reported adjusted earnings of $2.10 per share on $1.69 billion in revenue. Skyworks Solutions — The semiconductor stock plunged more than 3% after its fiscal third-quarter adjusted earnings of $1.21 failed to top the Street’s expectations. On the other hand, its revenue of $906 million exceeded analyst consensus of $900 million, according to LSEG. Upstart — The stock rallied more than 7% after Mizuho double upgraded it to outperform from underperform. Citing improving risk for borrowers and an increasing likelihood of lower interest rates as catalysts, analyst Dan Dolev sees shares rising 19% from Tuesday’s close. DuPont de Nemours — Shares rose around 4% following the company’s second-quarter results that beat Wall Street’s expectations. DuPont posted earnings of 97 cents per share, excluding items, on $3.17 billion in revenue. Analysts surveyed by LSEG had expected 85 cents in earnings per share on revenue of $3.05 billion. The chemical maker also raised its full-year forecast for earnings and revenue. Humana — Shares fell more than 10% after the health insurer posted full-year guidance that fell short of expectations. Humana expects earnings of $16 per share for the year, versus the $16.34 per share expected from analysts polled by FactSet. Starbucks — The coffee chain rose more than 2% despite reporting weaker-than-expected sales for the fiscal third quarter. Starbucks reported that revenue dipped to $9.11 billion, below the $9.24 billion expected by analysts. The company did meet expectations with adjusted earnings of 93 cents per share. AutoNation — The car dealer stock popped more than 6% despite revenue missing Wall Street expectations. AutoNation posted $6.48 billion in the quarter, under the $6.72 billion consensus forecast of analysts polled by LSEG. Kraft Heinz — Shares jumped around 4% after the ketchup maker posted better-than-expected second-quarter adjusted earnings. Revenue, however, came in below expectations at $6.48 billion, compared to the $6.55 billion analysts polled by FactSet had expected. Marriott International — The hotel stock fell nearly 5% after the company reported second-quarter revenue that missed expectations. Marriott reported $6.44 billion, which was below the $6.47 billion analysts polled by FactSet had expected. The company also posted weaker-than-expected guidance on adjusted earnings for the third quarter, forecasting a range of $2.27 to $2.33 per share. Analysts polled by FactSet expected $2.38 in earnings per share. Bunge — The food stock moved more than 8% lower after the company posted second-quarter results that missed analysts’ expectations. Bunge reported adjusted earnings of $1.73 per share on revenue of $13.24 billion. Analysts polled by FactSet had expected $1.83 in earnings per share on $14.3 billion in revenue. Constellation Energy — Shares rose more than 12% following results from the mid-Atlantic grid operator PJM’s capacity auction. The operator cleared a total of 17.5 gigawatts from Constellation between 2025 and 2026. Boeing — The aerospace company jumped 2% after it named Robert “Kelly” Ortberg to replace CEO Dave Calhoun. Ortberg previously helmed aerospace supplier Rockwell Collins, which is now known as Collins Aerospace. He begins his new role on Aug. 8. — CNBC’s Alex Harring, Samantha Subin, Lisa Kailai Han, Hakyung Kim, Jesse Pound and Michelle Fox contributed reporting.



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