Stocks making the biggest moves midday: Ford, Viking Therapeutics, ServiceNow and more
Here are the companies that rocked the headlines in midday trading:
— The car manufacturing company’s stock plummeted by over 17% post their Q2 earnings release, which fell short of the predictions by Wall Street. Despite falling short on earnings per share at 47 cents against the projected 68 cents as per LSEG, the car revenues at $44.81 billion surpassed the estimated $44.02 billion.
— The biopharmaceutical firm’s shares surged a whopping 33% following their announcement of moving obesity treatment, VK2735, to phase 3 clinical trial. The firm also unveiled plans for phase 2 trials of the oral version of this drug in Q4.
— The healthcare company’s shares climbed over 15% after it sustained its full-year guidance for adjusted earnings of at least $23.50 per share. This is slightly more than $23.09 per share, the consensus of analysts polled by FactSet, and also topped Q2 expectations.
— The shares of this firm dropped over 25% after it revised its guidance for transcatheter aortic valve replacements. However, the Q2 adjusted earnings of 70 cents a share were in line with expectations, as per LSEG. They project Q3 revenue between $1.56 billion and $1.64 billion.
— This software stock surged 14% on the back of stronger-than-expected earnings and a boost in the annual subscription revenue forecast. Additionally, the COO CJ Desai resigned following an internal investigation into the hiring of the former U.S. Army’s CIO.
— The airline’s shares increased more than 6% after it surpassed earnings estimates for Q2. Despite the revenues being weaker than expected, the company adjusted earnings of $1.09 per share, higher than the $1.05 analysts were expecting as per LSEG.
— The industrial company’s shares dropped over 4% post their full-year outlook, that lagged behind analysts’ expectations. They see Q3 earnings in the range of $2.45 to $2.55 per share, which is below the StreetAccount estimate of $2.58 per share.
— The air carrier’s shares soared about 6% following superior Q2 results. The Q2 earnings and revenues surpassed the LSEG projected estimates. The firm also announced the discontinuation of open seating.
— The aerospace and defense supplies manufacturer’s stock rallied over 8% after Q2 earnings surpassed estimates. The company also reported more than expected revenues.
— The athletic retailer’s shares declined by 7% following Citi’s downgrade to neutral from buy. The firm indicated that a category slowdown and increased competition would add to difficulties.
— The toy manufacturer’s stock surged nearly 4% after exceeding Q2 expectations and raising its guidance for the full year.
— The biopharmaceutical firm’s stock ascended more than 4% after topping Street’s expectations for Q2 results. Both revenues and earnings per share beat the consensus estimate.
International Business Machines
—The shares of the company went up more than 5% after surpassing Q2 expectations.
— The defense stock ascended more than 5% after smashing Q2 earnings expectations and also lifting its full-year forecast.
— The financial services company’s shares shot up by more than 6% after reporting Q2 results better than expected.
— The shares of the Invisalign aligner manufacturer fell about 6% post their disappointing forecast and slightly less than expected revenue.
