Stocks making the biggest moves midday: Fortinet, Shopify, Lyft and more

Discover the companies making waves in the midday trading sector.

Fortinet is leading the pack in the S&P 500 today thanks to a 26% boost. Striking second-quarter reports and positive future guidance have powered this rise, with the cybersecurity company showing strong revenue and earnings per share results.

Shopify’s stock saw a 22% growth after outperforming Q2 expectations. The Canadian e-commerce giant also predicts promising revenue growth for Q3, outdoing analyst predictions for YoY sales growth.

Lyft, on the other hand, experienced a 12% drop in stock after sharing softer Q3 guidance. Similarly, Airbnb’s shares fell by 13% due to lower-than-anticipated revenue predictions for Q3.

Super Micro Computer shares fell by 16% after a disappointing earnings report and a decrease in gross margins, though the server company did reveal promising guidance thanks to ongoing AI demand.

Lumen Technologies experienced a massive 40% surge in shares after reporting Q2 revenue that surpassed expectations. AI-driven business growth and an upgrade from Goldman Sachs have propelled this recent rise.

Upstart Holdings reported impressive Q2 results, causing a 49% rise in stock. The company’s quarter losses and revenue both surpassed analyst expectations.

Contrastingly, Novo Nordisk’s shares fell by 8% after disappointing Q2 results and lower full-year profit outlook, causing concerns despite its 25% YoY stock increase.

V.F. Corporation shares rose by 12% thanks to Q1 earnings results that exceeded expectations. Sunrun also experienced a 12% boost in shares following the CEO’s discussions with former SunPower dealers.

Global Payments saw an 8% rise in stock after outperforming Q2 earnings estimates, whereas Amgen’s shares dipped by 5% due to missing Wall Street’s earnings expectations.

Rivian Automotive’s electric vehicle stock saw a slight decline after Q2 net losses widened, despite beating certain predictions. Advanced Micro Devices enjoyed a small rise in shares after Piper Sandler’s reiteration of it as a top pick.

Lastly, Reddit’s stock fell by 5.7% despite beating Q2 estimates and providing an optimistic Q3 sales outlook.