Stocks making the biggest moves midday: Walt Disney, Dexcom, McDonald’s, On Semiconductor and more
Take a look at the companies that are the talk of the town during midday trading:
— Despite falling short of Wall Street’s earnings and revenue forecasts, McDonald’s stock surged over 4%. The fast-food behemoth, by maintaining its $5 value meals, has probably comforted investors, enticing back lower-income patrons. The approach is said to be enhancing perceptions about the brand’s value and affordability.
— The life sciences company’s shares climbed 6% following a beat on its Q2 earnings. Revvity outdid the FactSet per-share earnings estimate of $1.12 with a reported $1.22. Their revenue, at $691.7 million, also surpassed the expected $690.3 million.
— The cloud security firm’s shares rose 1% after Guggenheim upgraded the stock from neutral to buy. The investment firm predicts a 32% upside as Akamai capitalizes on its leading position to deliver more value to its clientele.
— The electric vehicle pioneer’s shares increased by 4.2% after Morgan Stanley analyst Adam Jonas declared Tesla as the top choice among U.S. auto stocks, taking over Ford’s spot which slipped about 2%.
— The automaker’s shares tumbled nearly 4.5%, touching a 52-week low, post a Deutsche Bank downgrade from buy to hold. The firm anticipates Stellantis’ guidance to be compromised due to challenges in addressing significant issues like inventory, pricing, and ageing model range amid a “tougher” environment.
— Disney’s shares grew 2% on the back of a successful launch of “Deadpool & Wolverine.” The latest Marvel film set a new record for an R-rated film’s opening weekend, collecting over $200 million at the domestic box office.
— The semiconductor company’s shares soared close to 13% following financial results that exceeded expectations. Q2 adjusted EPS came in at 96 cents, outpacing the consensus estimate of 92 cents per FactSet. Revenue stood at $1.74 billion, slightly over the expected $1.73 billion.
— The diabetes company’s shares rallied 5%, recovering some of their Friday losses. The announcement that Health Canada had authorized the sale of Dexcom’s latest insulin pump software boosted the stock. This follows a more than 40% drop in the previous session after Dexcom reported subpar Q2 results and projected weak guidance.
