Stocks making the biggest moves midday: Target, Intel, Medtronic, Palantir, La-Z-Boy and more
Here are some of the stocks posting the biggest moves in midday trading Wednesday
Here are some of the stocks posting the biggest moves in midday trading Wednesday. Palantir Technologies — The defense technology company headed for a sixth consecutive losing day, dropping more than 2% on Wednesday. If Palantir closes in negative territory, that will mark its first six-day losing run since April 2024. Shares have more than doubled in 2025. Medtronic — The medical device company saw shares pop 4% after giving guidance that was better than hoped. For the 2026 fiscal year, the company sees a tariff impact of about $185 million, down from its earlier range of roughly $200 million to $250 million. Medtronic also lifted its non-GAAP guidance for the year to a range of $5.60 to $5.66 per share, up from its earlier call for $5.50 to $5.60 per share and topping the FactSet consensus of $5.55 per share. Avis Budget — Shares of the car rental company slipped 5%. Bank of America downgraded Avis to underperform from buy. "We think that CAR fundamentals and the macro environment don't support the current stock price which significantly outperformed the market in June," the firm said. UnitedHealth — The health insurance giant headed for back-to-back losing sessions, dropping more than 2%. Shares have been cooling from last week's pop, which was driven by news that Warren Buffett's Berkshire Hathaway revealed a stake of 5 million shares in UnitedHealth. Target — The big-box retailer sank 7% after announcing CEO Brian Cornell will be replaced by Chief Operating Officer Michael Fiddelke on Feb.1. Target also posted a second-quarter earnings and revenue beat, although its sales and traffic declined, and reiterated its full-year outlook. Estée Lauder — Shares tumbled nearly 5% after the beauty company said it expects tariff-related headwinds to affect profitability for its fiscal 2026 year by about $100 million. Estée Lauder also guided for fiscal 2026 adjusted earnings per share in a range below FactSet's consensus estimate, and for fiscal 2026 year-over-year revenue growth of 2.5%, less than the expected 2.6%. Hertz — The car rental company jumped 5% after announcing it will begin selling pre-owned vehicles on Amazon Autos. The offering will be available beginning in four city areas as soon as Wednesday and will expand to 45 locations nationwide. Analog Devices — The stock rose 4% following the semiconductor company's earnings beat. Analog Devices reported third-quarter adjusted earnings of $2.05 per share on revenue of $2.88 billion. Analysts polled by LSEG had expected earnings per share of $1.95 on revenue of $2.77 billion. TJX — The stock rose 3% after the discount retailer reported second-quarter results that exceeded expectations. TJX posted earnings of $1.10 per share on revenue of $14.40 billion. Analysts polled by LSEG had expected earnings per share of $1.01 on revenue of $14.13 billion. La-Z-Boy — Shares slid 12% after the manufacturer of recliners posted earnings of 47 cents per share, excluding items, in the fiscal first quarter, missing the consensus estimate from analysts polled by FactSet of 53 cents. The company also gave weaker-than-expected guidance for current-quarter revenue. Alcon — U.S.-listed shares of the Swiss-based eye-care company shed 9%. Alcon's second-quarter revenue of $2.58 billion came in below the $2.62 billion expected from analysts polled by FactSet. The company also lowered its full-year revenue guidance. Upstart — The online lender added almost 3% on the back of an upgrade at JPMorgan to overweight from neutral. The firm said the improved macroeconomic outlook is positive for seasoned fintech leaders and believes Upstart offers the best risk/reward. Chip companies — Shares of some chips manufacturers moved lower following a Reuters report that the Trump administration is considering taking equity stakes in those companies that receive funding from the CHIPS Act. Micron sank 5%, while Intel tumbled 7%. Taiwan Semiconductor Manufacturing lost 2% and AMD fell 2%. — CNBC's Alex Harring, Sarah Min, Lisa Han and Michelle Fox contributed reporting.This story originally appeared on: CNBC - Author:Darla Mercado, CFP®
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Here are some of the stocks posting the biggest moves in midday trading Wednesday
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