Stocks making the biggest moves midday: Apple, Amazon, Monolithic Power, Reddit and more
Here are some of the stocks posting the largest moves midday Friday
Check out the stocks making the biggest moves midday. Kimberly-Clark — The consumer products giant gained about 4% on stronger-than-expected full-year guidance. Kimberly-Clark expects earnings per share to grow in the low-to-mid single digit percentage rate, while analysts polled by FactSet anticipated a contraction of around 2.6%. Marvell Technology — The chipmaker fell about 6%, following the broader tech sector lower. The Technology Select Sector SPDR Fund (XLK) shed more than 1%. UnitedHealth — The insurance giant shed more than 3%.The company announced Thursday that Wayne DeVeydt would take over as chief financial officer, effective Sept. 2. Current CFO John Rex will become "strategic advisor to the CEO" that day as well. Rocket Companies – Shares of the mortgage lender surged 13%. Rocket posted second quarter results that surpassed expectations on the top and bottom lines. The company also said that it generated $29.1 billion in closed loan origination volume in the period, up 18% year over year. W.W. Grainger – The industrial supply company saw shares drop 9%. Second quarter adjusted earnings came in at $9.97 per share, missing the FactSet consensus estimate of $10.07 per share. W.W. Grainger also lowered its forecast for the full year's adjusted earnings, calling for $38.50 to $40.25 per share. That's down from the earlier estimate of $39 to $41.50 a share. Ingersoll Rand – The manufacturer of air compressors slid 11%. Adjusted earnings for the second quarter came in at 80 cents per share, in line with the FactSet consensus estimate. Revenue narrowly surpassed the Street's expectation, landing at $1.89 billion versus the $1.85 billion anticipated. Align Technology – Shares of the orthodontics products company rebounded 6%. Align tanked 36.6% on Thursday on the heels of a second-quarter miss on top and bottom lines, as well as an announcement that it would kick off a streamlining plan that includes reducing its global workforce. The stock is on pace to snap a three-day losing run. Bright Horizons Family Solutions — The child care services provider bucked the market and climbed 10%. Second-quarter earnings of $1.07 per share beat analysts' consensus $1.01 estimate, while revenue of $732 million topped the Street's $724 million, according to FactSet. Bright Horizons also raised full-year profit and revenue guidance. Apple — The tech giant's shares slid 2%, reversing earlier gains amid a broader sell-off in tech. Apple is fresh off a solid third-quarter earnings report. The company said iPhone sales grew 13% year over year and total revenue grew 10%, marking Apple's fastest quarterly revenue growth since December 2021. CEO Tim Cook said Apple would "significantly grow" its artificial intelligence investments, adding that it is "open to M & A that accelerates our roadmap." Amazon — Shares slumped more than 7% after the dominant online retailer issued a disappointing forecast . Amazon said it anticipates current-quarter operating income to range between $15.5 billion and $20.5 billion. Analysts polled by StreetAccount had estimated $19.48 billion. Moderna — Shares fell 7% after the vaccine maker lowered the high end of its full-year revenue guidance by $300 million, to $1.5 billion to $2.2 billion from prior guidance of $1.5 billion to $2.5 billion. Moderna beat second-quarter estimates for earnings and revenue. Reddit — The social media platform soared 21% after beating second-quarter earnings expectations . Reddit earned 45 cents per share on revenue of $500 million, while analysts polled by LSEG estimated 19 cents per share on $426 million. Third-quarter guidance calls for $535 million to $545 million in revenue, above the FactSet consensus estimate of $473.3 million. DXC Technology — Shares fell nearly 7% even as the information technology services provider posted fiscal first-quarter earnings and revenue that topped expectations. DXC reported earnings of 68 cents per share on revenue of $3.16 billion, while analysts polled by FactSet expected earnings of 62 cents per share on revenue of $3.08 billion. First Solar — The photovoltaic solar technology manufacturer rose almost 7% after its latest earnings and revenue beat the Street's forecasts. First Solar reported earnings of $3.18 per share, more than the $2.65 per share expected from analysts polled by LSEG. Revenue of $1.1 billion also topped the $1.03 billion forecast. Monolithic Power Systems — Shares popped about 11% after the maker of integrated power products for semiconductors posted second-quarter profit and revenue that topped estimates, and issued third-quarter sales guidance of $710 million to $730 million that was far above the FactSet's StreetAccount consensus estimate. Topgolf Callaway Brands — The maker of golf sporting goods fell more than 8% after CEO Artie Starrs resigned. Starrs is expected to remain with Topgolf through September 2025. Stryker — Shares fell more than 3% after second-quarter profit and revenue failed to meet the Street's highest estimates. Stryker estimated a $175 million hit from higher tariffs on goods from China and Europe. Columbia Sportswear Company — The apparel maker tumbled 12% after forward financial guidance missed analysts' expectations. For the third quarter, Columbia Sportswear expects earnings to come in between $1.00 and $1.20 per share on revenue between $904 million and $922 million, while analysts polled by FactSet had penciled in $1.31 per share on $936.5 million in revenue. Coinbase Global — The crypto trading platform dropped 15% after second-quarter revenue missed expectations, landing at $1.50 billion compared to the LSEG consensus of $1.60 billion. Retail trading volume came in at $43 billion, less than the $48.05 billion estimate from analysts polled by StreetAccount. Eastman Chemical Co. — The Kingsport, Tennessee-based chemical maker slid 20% after second-quarter earnings of $1.60 per share missed the FactSet consensus estimate of $1.73 per share. Revenue of $2.29 billion was also below the anticipated $2.30 billion. — CNBC's Sean Conlon, Yun Li, Sarah Min, Fred Imbert and Scott Schnipper contributed reporting.This story originally appeared on: CNBC - Author:Darla Mercado, CFP®
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Here are some of the stocks posting the largest moves midday Friday
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