Stocks making the biggest moves midday: Circle, Visa, Carnival, Halliburton, Adobe and more
Check out the companies making headlines in midday trading. Oil stocks — Energy stocks climbed amid a jump in oil prices after Israel launched airstrikes against Iran without U.S. support, drawing concerns over the supply outlook from the oil-rich Persian Gulf. Chevron and Exxon Mobil were both up around 1% each, but off their highs of the day. Oil services stock Halliburton gained more than 4%, while EOG Resources rose more than 3%. Payment stocks – Shares of payments companies dropped after the Wall Street Journal reported Walmart and Amazon are considering issuing their own stablecoins in the U.S., which could overtake a high volume of transactions that are usually fulfilled using cash or credit cards, and save the companies billions in fees. Visa and Mastercard fell more than 5% each, while American Express lost 2% and Capital One retreated 1%. PayPal lost 4% and Block was lower by 2%. Circle — The issuer of USDC continued to rise following its successful IPO last week and after Shopify said Thursday it would enable payments in the stablecoin available for merchants on its payments platform. Circle shares jumped more than 12%. Shopify shares were down 2%. Gold stocks — Stocks tied to gold advanced as investors flocked to the perceived safe haven amid the geopolitical escalation. Newmont and SSR Mining both rose more than 2%, as did the VanEck Gold Miners ETF (GDX) . Defense stocks — Weapons manufacturers rose amid elevated geopolitical risk following Israel's attack on Iran. RTX and Northrop Grumman both surged about 3%, Lockheed Martin gained 3% as well and L3Harris Technologies added 2%. Cruise lines and airlines — Travel companies slid as investors worried that heightened risk would deter vacationers and spikes in oil prices would hurt profit. Carnival fell more than 4%, Norwegian Cruise Line and Royal Caribbean Cruises dropped about 2% each. United Airlines weakened more than 2% while Delta Air Lines and American Airlines each declined more than 3%. Southwest Airlines shed about 1%. Hotel stocks — Hotel and resort stocks declined as traders weighed the outlook for diminished travel demand following Israel's strike on Iran. Hilton Worldwide , InterContinental Hotels Group and Marriott were all off about 1%. RH — The home furnishings retailer jumped 12% after a better-than-expected fiscal first-quarter. RH earned 13 cents per share, excluding items, while analysts surveyed by LSEG expected a loss of 9 cents per share. Revenue, however, trailed Street estimates. RH shares were down more than 50% year to date ahead of the report. DraftKings — Shares of the sports betting app lost nearly 2% after imposing a 50-cent transaction fee in Illinois starting in September after state lawmakers passed a budget including what one analyst described as a surprise increase in an online gambling tax . Adobe — Shares fell more than 5% despite the software company posting better-than-expected second-quarter earnings and raising its full-year forecast. StreetAccount said there was a "slight deceleration in Subscription and cRPO growth rates [and] implied Q4 growth outlook." — CNBC's Alex Harring, Yun Li, Jesse Pound, Sean Conlon and Brian Evans contributed reporting
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