Stocks making the biggest moves midday: Darden Restaurants, Micron Technology, Lamb Weston, Hims & Hers and more
Check out the companies making headlines in midday trading. Hims & Hers — Shares of the telehealth startup shares lost more than 10% after the U.S. Food and Drugs Administration said the active ingredient in Eli Lilly’s Mounjaro and weight loss drug Zepbound is no longer in shortage . Hims & Hers gives access to GLP-1 injections. Vertex Pharmaceuticals — The pharmaceutical company tumbled around 13% after announcing results from its Phase 2 study of suzetrigine, a pain signal inhibitor for patients with painful lumbosacral radiculopathy. The study found that recipients who received a placebo showed a “similar within-group reduction in [the numeric pain rating scale],” but the company said it planned to move the drug to Phase 3 trials. Palantir Technologies — Shares added 4% after Palantir said it extended its long-standing partnership with the U.S. Army, in an agreement valued at $400.7 million for up to four years. It has a total available ceiling of $618.9 million. Darden Restaurants — The stock popped more than 15% after Darden reported better-than-expected same-store sales growth at Olive Garden and LongHorn Steakhouse, putting the stock on track for its best day since 2020. The company also raised its full-year revenue guidance. It now expects revenue of $12.1 billion, up from its prior estimate of $11.8 billion to $11.9 billion. Accenture — Shares of the IT services management company popped about 7%. Accenture beat its fiscal first-quarter revenue expectations and raised its full-year guidance, saying it now expects revenues to grow between 4% and 7%, compared to a prior forecast of 3% to 6%. Micron Technology — The chipmaker’s stock slumped more than 16% after the company issued weaker-than-expected fiscal second-quarter guidance , putting the stock on track for its worst day since March 2020. CEO Sanjay Mehrotra said its “consumer-oriented markets are weaker in the near term,” and the firm anticipates a return to growth in the second half of the fiscal year. Lennar — Shares of the homebuilder dipped 5% after Lennar’s earnings for the first fiscal quarter missed analyst expectations. Hurt by higher mortgage rates, Lennar reported $4.06 per share on $9.95 billion in revenue, while analysts polled by FactSet had called for $4.15 a share and $10.06 billion, respectively. CarMax — The stock rose more than 2% following the company’s better-than-expected earnings results. For the third quarter, CarMax earned 81 cents per share on $6.22 billion in revenue. Analysts polled by FactSet had expected 62 cents per share on $6.05 billion in revenue. Innodata — The data engineering stock jumped 14% following Wedbush’s initiation at outperform. The firm said the company can win in the custom large language model space within artificial intelligence. Conagra Brands — The packaged food company lowered its fiscal-year outlook, taking shares about 2% lower. Conagra now sees its fiscal-year adjusted earnings coming in at a range between $2.45 to $2.50 per share, lower than its prior guidance of between $2.60 to $2.65 a share and FactSet’s consensus estimate of $2.58 a share. Conagra still delivered strong fiscal second-quarter adjusted earnings and revenue results that beat the FactSet consensus. MicroStrategy , Coinbase — Shares of crypto-related stocks dipped alongside bitcoin prices. MicroStrategy fell 6%, while Coinbase shed 2.9%. Robinhood shares declined 1.6%. Lamb Weston — Shares of the frozen potato maker plunged nearly 22% after the company posted disappointing quarterly results and cut its 2025 fiscal year adjusted profit expectations. Lamb Weston reported adjusted earnings of 66 cents per share on $1.60 billion in revenue, while analysts polled by FactSet called for earnings of $1.01 per share on $1.67 billion in revenue. Lamb Weston also replaced its CEO on Thursday. The company has been under pressure from activist investor Jana Partners , which has also been pushing Lamb Weston to sell itself. — CNBC’s Alex Harring, Samantha Subin, Yun Li, Lisa Han, Sean Conlon and Michelle Fox contributed reporting. This post has been syndicated from a third-party source. View the original article here.
