Stocks making the biggest moves midday: Intel, Amazon, Boeing, Chevron and more
Check out the companies making headlines in midday trading: Cardinal Health — The health-care services provider gained 7.7%, hitting a new 52-week high, after Cardinal exceeded fiscal first-quarter earnings expectations and lifted its adjusted earnings outlook for fiscal 2025. The company posted earnings of $1.88 per share, excluding items, on revenue of $52.28 billion. Analysts polled by FactSet called for adjusted earnings per share of $1.62 on revenue of $50.90 billion. Boeing — Shares gained 3.4% after the plane maker agreed to a new negotiated contract with its machinists’ union in an effort to bring an end to a seven-week-long strike, with a vote on the proposal set for Monday. The contract would raise worker pay 38% over the next four years, up from a previous offer of 35%. Intel — Shares popped 8.4% after the chipmaker topped third-quarter earnings estimates and shared upbeat quarterly guidance. The company posted adjusted earnings of 17 cents per share on $13.28 billion in revenue. Amazon — The e-commerce stock surged more than 6.4% on third-quarter results that beat analysts’ expectations. The company’s cloud segment, Amazon Web Services, grew 19% year over year for the quarter. Apple — Shares dropped roughly 1.3% even after the iPhone maker exceeded top- and bottom-line estimates for the fiscal fourth quarter. Apple’s net income declined during the quarter, however, as the company paid a one-time charge connected to a tax decision in Europe. Atlassian — The software company surged 18.9% after it reported better-than-expected quarterly results for the fiscal first quarter. Atlassian earned 77 cents per share, excluding items, on revenue of $1.19 billion, while analysts polled by FactSet had forecast 64 cents in earnings per share and $1.16 billion in revenue. Atlassian also lifted its full-year revenue growth forecast. Trump Media & Technology Group — The stock dropped 8.7%, extending its heavy losses from the previous trading session as investors sell the highly volatile shares ahead of the upcoming presidential election. The company, which is majority owned by former President Donald Trump, also dropped more than 22% on Wednesday. Charter Communications — Shares soared 12.2% after Charter reported adjusted third-quarter EBITDA of $5.65 billion, exceeding estimates of $5.59 billion from analysts surveyed by FactSet. The telecommunications company’s quarterly revenue came out at $13.80 billion, also higher than expectations of $13.66 billion. Abbott Laboratories — The health-care stock popped 5.1% after a jury on Thursday found the company not liable in a lawsuit over its baby formula. There are several similar cases still pending against Abbott. Super Micro Computer — Shares of the artificial intelligence server maker shed nearly 10%. Friday’s losses brought the company’s week-to-date loss to 41.5% loss. The sell-off has been fueled by Ernst & Young resigning as its auditor due to concerns over its accounting practices and the independence of its board. Avis Budget — The car rental stock surged 10.10%, reversing course after seeing declines in extended trading. Avis posted $6.65 in earnings per share on revenue of $3.48 billion, missing the consensus forecasts of $8.18 a share and $3.53 billion in revenue from analysts polled by LSEG. Chevron — Shares rose 3% on the heels of the oil giant’s better-than-expected third-quarter results . Chevron also returned a record of more than $7 billion to shareholders in the quarter through buybacks and dividends. — CNBC’s Alex Harring, Brian Evans, Michelle Fox Theobald, Sean Conlon and Samantha Subin contributed reporting. This post has been syndicated from a third-party source. View the original article here.
