Stocks making the biggest moves midday: Spirit AeroSystems, Zscaler, Dell, Advanced Micro Devices and more
Check out the companies making headlines in midday trading. Spirit AeroSystems — Shares climbed more than 15% following a report that Boeing was in talks with Spirit to reacquire the fuselage supplier nearly 20 years after spinning it off into a separate company. Hewlett Packard Enterprise — The technology stock rose 2.1% after fiscal first-quarter earnings of 3 cents per share topped analysts’ expectations, according to LSEG, formerly known as Refinitiv. But Hewlett Packard posted $6.76 billion in revenue, under the Wall Street forecast of $7.11 billion, and gave weak guidance for the current quarter. Daimler Truck — Shares of the commercial vehicle manufacturer soared more than 18% after reporting a record-high, full-year profit, and authorized a 2 billion euro, or $2.16 billion, share buyback. New York Community Bancorp — Shares plunged nearly 26% after the Long Island-based lender disclosed concerns over ” internal controls ” after the market closed Thursday and announced a new CEO. Root — The insurance stock rallied nearly 22% and hit a 52-week high after getting an upgrade to buy from neutral at Jefferies. The investment bank said it believes there is a material growth opportunity for Root, and boosted its price target to $40 from $30, implying about 25% upside. Zscaler — The cybersecurity stock sank more than 9% despite topping Wall Street’s earnings expectations for the quarter. Billings came in ahead of expectations, but analysts noted concern that the forward guidance indicated a year-over-year slowdown in billings growth coming in the second half. Dell Technologies — Shares soared more than 31% after the laptop maker posted fourth-quarter results that beat analysts’ estimates amid strong demand for its artificial intelligence servers. Dell also hiked its annual dividend by 20% to $1.78 per share. Advanced Micro Devices , Marvell Technology , Micron Technology — AMD added more than 5% in midday trading as investors continue to signal excitement over stocks tied to implementing artificial intelligence. AMD’s valuation soared above $300 billion on Thursday. Shares of Micron Technology and Marvell Technology soared 5% and 8.3%, respectively. Meta Platforms — Stock in the Facebook and Instagram parent ticked up 2.4%, following the broader field of tech stocks higher as the Nasdaq Composite soared to an all-time high Friday. — CNBC’s Alex Harring, Yun Li, Michelle Fox and Samantha Subin contributed reporting. This post has been syndicated from a third-party source. View the original article here.
