Prism Stocks making the biggest moves midday: Eli Lilly, 3M, PayPal, Tesla and more

Eli Lilly’s shares increased by 5% following better than anticipated Q1 adjusted earnings. The manufacturer of Mounjaro diabetic medicine also offered an uplifting forecast for full-year earnings and revenue.

3M saw a jump in shares by 4% as their earnings and revenue outperformed analysts’ predictions, crediting their variety of industrial commodities and glues.

PayPal shares saw an upturn of 3.6% as the company reported Q1 revenue exceeding analysts’ forecasts. The company also experienced year-on-year growth in total payment volumes and transactions.

Despite a brief dip, McDonald’s shares stayed relatively stable even after the fast food chain fell short of their quarterly earnings predictions. Although their more robust pricing policy resulted in increased revenue, it deterred some low-income consumers.

Chegg shares plunged 20% following a bleak forecast for Q2 revenue, far below the consensus estimate. Accordingly, Jefferies downgraded Chegg to underperform as free AI tools rises in popularity.

Tesla’s shares decreased by 5.5%, despite the previous day’s rally, due to continued challenges in delivering full self-driving technology throughout China.

NXP Semiconductor shares grew around 4% as Q1 earnings surpassed analyst estimates. Its revenue matched the predicted figures.

Tenet Healthcare watched their shares swell by 9.8% after strong earnings results. They also raised their official forecast for both measures for the entire year.

Corning enjoyed a 6.2% surge in their shares following their surpassing of earnings and sales estimates. They anticipate that the current-quarter revenue will exceed analyst predictions.

Amkor Technology saw nearly a 7% growth in shares as they outperformed predicted earnings and revenue.

Sysco shares slightly declined by 2.5% as they reported weaker than expected fiscal Q3 revenue. However, the company’s earnings per share were slightly above Wall Street’s estimates.

GE Healthcare Technologies saw shares dive nearly 12% due to the company falling short of analyst revenue estimates due to weaker sales in China and decreased imaging demand.

Yum China experienced a plunge in shares over 7% after Q1 revenue fell short of predictions. However, adjusted earnings per share outpaced anticipated earnings.

Medifast shares crumbled nearly 23% after failing to meet earnings expectations and revealed plans to alter a product to cater to users of popular weight-loss medications.

Coursera shares fell around 10% following the company’s projection of Q2 revenue beneath analyst expectations.

Paccar’s shares declined 6.6% despite better than anticipated earnings results.

Paramount Global shares slipped over 3% with the CEO, Bob Bakish, stepping down amidst ongoing merger talks. He will be succeeded by an executive trio. Needham downgraded Paramount from buy, to hold, in light of encountered uncertainty.