Stocks making the biggest moves midday: Eli Lilly, Under Armour, Warner Bros. Discovery and more

Eli Lilly’s stock is soaring, with an 8% increase following their impressive second-quarter earnings and revenue reports. The company has raised its revenue forecast for the year by $3 billion amid rising sales of its diabetes medication Mounjaro and weight loss injection Zepbound.

Under Armour’s shares jumped 19% after surpassing quarterly estimates and revising its profit expectations for the year.

Despite Warner Bros. Discovery reporting a larger-than-anticipated loss and failing to meet revenue expectations, leading to a 12% decline in its shares, it remains a significant player in the media industry.

With a 4% boost in shares, Occidental Petroleum, a Houston-based oil and gas company, has caught the eye of investors after reporting promising quarterly results.

Klaviyo, a marketing platform provider, saw its shares soar by more than 26% after beating Wall Street’s earnings and revenue predictions.

Despite surpassing top-and-bottom-line estimates for the recent quarter, Dutch Bros’ shares dropped by more than 23% after the coffee chain said it anticipates fewer new store openings, at the lower end of its range, for the year.

Parker-Hannifin’s shares jumped 11% after reporting better-than-expected fourth-quarter fiscal results.

Penn Entertainment, a gaming stock, climbed 5% after reporting higher-than-expected second-quarter revenue.

Robinhood, a retail brokerage, saw its shares increase by more than 2% after a second-quarter report that exceeded expectations.

Zillow, the real estate platform, enjoyed an 18% increase in its shares after exceeding analyst expectations on second-quarter earnings.

Duolingo’s shares increased by 7% following the announcement of better than anticipated quarterly figures.

Bumble, the dating app provider, saw its shares drop 33% following a lower-than-expected revenue guidance for the third quarter.

SolarEdge Technologies’ shares fell 7.2% after the solar power products company reported a larger-than-expected loss for the second quarter.

Celsius Holdings’ energy drink stock slipped 1.3% after being downgraded by Bank of America due to a slowing energy drink sector.

Despite JFrog predicting light earnings for the third quarter, the software supply chain stock plummeted 30%.

After lowering its fiscal 2024 forecast due to issues with their new app rollout, Sonos, the audio equipment manufacturer, saw its shares drop by more than 6%.

Monster Beverage’s shares dipped by 11% after the company reported underwhelming second-quarter results.