Stocks making the biggest moves midday: Kenvue, Caterpillar, Uber, CrowdStrike and more
Take a look at the corporate giants making significant midday moves:
— The Band-Aid bandage producer surged 14% after surpassing second quarter analysts’ expectations. Kenvue, a spin-off from Johnson & Johnson in the previous year, reported adjusted earnings of 32 cents per share, greater than the forecasted 28 cents by analysts sourced from FactSet. $4 billion in revenue was announced, beating the $3.93 billion consensus estimate.
— Stocks skyrocketed 13% in response to the defense tech company raising its annual revenue prediction. Palantir now projects revenue to range from $2.742 billion to $2.750 billion, up from its previous forecast of $2.68 billion to $2.69 billion.
— The manufacturing giant leaped 3% after an impressive quarterly report. Caterpillar’s adjusted earnings for the second quarter amounted to $5.99 per share, eclipsing the $5.55 per share prediction from FactSet analysts.
— The telecom stock blasted off 77% following the company’s post-close Monday announcement of securing $5 billion in new business, propelled by AI-driven demand for connectivity.
— Stocks rose 7% after the beverage brewer posted second-quarter adjusted earnings of $1.92 per share, outdoing the $1.68 per share expectation from FactSet analysts. Revenue also exceeded predictions, reaching $3.25 billion against the $3.18 billion consensus estimate.
— The transportation service company grew 9%, following impressive earnings and revenue figures. Second-quarter earnings tallied up to 47 cents per share, surpassing the expected 31 cents by LSEG analysts. Revenue reached $10.7 billion, outdoing the $10.57 billion consensus estimate.
— Stocks leaped 9% following the company’s second-quarter financial beat. Planet Fitness noted adjusted earnings of 71 cents per share on revenue of $300.9 million, exceeding the 66 cents earnings and $290.2 million revenue anticipated by FactSet analysts.
— Stocks surged 11.7%. The Shanghai-based company that operates Pizza Hut and Taco Bell, reported second-quarter earnings that exceeded expectations, despite revenue falling short. In other news, the fast-food company’s finance chief is stepping down.
— Stocks of the customer acquisition tech company plummeted 18% after a disappointing quarterly report. The company reported adjusted earnings per share of 17 cents on $291.5 million revenue, falling short of the LSEG analysts’ expectations. The company lowered its annual earnings guidance and announced a change in its chief financial officer.
— Shares rose almost 4% following the transport holding company’s second quarter results. CSX reported earnings of 49 cents per share, above the 48 cents expected by LSEG analysts. Revenue matched the consensus estimate of $3.7 billion.
— The stock increased nearly 2% after the electric vehicle company exceeded revenue expectations, reporting $200.6 million, higher than the LSEG consensus estimate of $192 million.
— Stocks of the biopharma company soared almost 9%. The company reported adjusted earnings of 96 cents per share for the second quarter, surpassing the 35 cents expected by FactSet analysts. Revenue also beat expectations. Furthermore, BioMarin increased its full-year earnings and revenue guidance.
— Shares increased 3% after Piper Sandler upgraded CrowdStrike from neutral to overweight, citing the recent dip in the cybersecurity stock following a global tech outage as a purchasing opportunity. This year, the stock is down 10%, with a 40% fall this quarter alone.
