Stocks making the biggest moves midday: Shopify, Honeywell, GE Vernova, Twilio and more
Here’s a round-up of the companies drawing attention in midday trading.
Shopify made waves as shares skyrocketed by 26%, following the announcement of a third-quarter operating income of $283 million – a significant increase from last year’s $122 million. Their revenue of $2.16 billion also exceeded predicted estimates, making it a record-breaking day for the company.
Live Nation Entertainment saw a 4% gain after reporting third-quarter earnings above expectations. Despite a small miss on revenue predictions, their improved earnings per share demonstrated financial strength.
Honeywell shares climbed 3% after a significant stake purchase by Elliott Management. The investment firm suggested a strategic separation of Aerospace and Automation to enhance sector leadership and shareholder value.
Twilio’s shares climbed 4% after a positive review from Wells Fargo, citing the company’s potential to capitalize on emerging AI-powered applications.
Contrarily, IAC shares dropped 9% after the company announced potential separation plans of their home improvement marketplace, Angi, causing Angi shares to plummet by 22%.
Trump Media & Technology experienced an 8% decrease in share prices, following recent rallies after Trump’s reelection.
Despite the turbulence in the market, cybersecurity stock SentinelOne gained 1.5%. Deutsche Bank even upgraded their rating following potential momentum boosts from a competitor’s outage.
Tyson Foods soared over 8% after a successful Q4 report exceeded Wall Street predictions, along with an increased quarterly dividend.
Registers clanged for Swiss athleisure company, On Holding, with shares dipping 1.5% on uneven Q3 results. However, the full-year revenue forecast remained above market estimates.
In contrast, TreeHouse Foods shares took a heavy 16% hit after missing analysts’ expectations for Q3 earnings and revenue estimates.
Disappointing revenue reports from the social entertainment services segment caused shares of Tencent Music Entertainment to slide 8%.
Tech company Sea experienced a 1.7% surge in shares after beating Q3 revenue predictions and reporting higher than anticipated adjusted EBITDA.
Shift4 Payments saw shares slide down 8.2% post disappointing Q3 results. Despite the stumble, they managed to report a healthy earning per share figure.
Lastly, chemical production company Mosaic saw a drop in shares by 9% following unsatisfactory quarterly results and the announced retirement of their CEO, Clint Freeland.
GE Vernova rounds out the list, with shares taking a near 8% hit after CEO Scott Strazik put offshore wind projects on hold, citing economic concerns and potential government intervention.
