Stocks making the biggest moves midday: Apple, Viasat, McDonald's, Grocery Outlet & more

2 days ago

Check out the companies making the biggest moves midday: Apple — The iPhone maker gained more than 5% after a White House official confirmed the company would invest another $100 billion in the U.S. That would bring Apple's total U.S. investment over the next four years to $600 billion . Grocery Outlet — The discount grocery store rallied 38% after the company reported second-quarter earnings that beat the Street. Grocery Outler earned 23 cents per share, excluding items, beating a FactSet consensus of 17 cents per share. Full-year earnings guidance also topped estimates. Bloomin' Brands — The restaurant chain plunged 28.4% after providing weak guidance for the current quarter and full-year. That overshadowed a better-than-expected earnings report for the second quarter. Viasat — The communications services stock surged more than 24% after stronger-than-expected results. Viasat reported fiscal first-quarter earnings per share of 17 cents on revenue of $1.17 billion. Analysts polled by FactSet were expecting an earnings loss of 65 cents per share on revenue of $1.13 billion. Scholar Rock —The unprofitable biotech fell 6% after second-quarter research and development expenses jumped to $62.4 million , far above the Street's estimate of $46.6 million, StreetAccount said. The Q2 loss per share was also wider than expected. Capri Holdings — The maker of Jimmy Choo shoes and Michael Kors handbags jumped more than 11% as fiscal first-quarter earnings excluding one-time items, operating income and revenue all beat analyst estimates. Fiscal second-quarter revenue guidance also exceeded what the Street had penciled in before the report. Limbach — The HVAC and building control contractor plunged 19% after second-quarter revenue failed to top the Street's highest estimate, according to analyst numbers compiled by FactSet, and after net cash from operating activities slid to $2 million from $16.5 million , "reflecting the timing of billings that impacted changes in working capital." McDonald's — Shares of the fast-food giant gained more than 2% after second-quarter results surpassed analysts' estimates. McDonald's earned $3.19 per share after adjustments on revenue of $6.84 billion. Analysts polled by LSEG were looking for a profit of $3.15 per share and revenue of $6.7 billion. Walt Disney — The media and entertainment giant slipped more than 2% on the back of mixed quarterly results . Revenue for its fiscal third quarter came in at $23.65 billion, short of the $23.73 billion estimate from LSEG. Adjusted earnings came in at $1.61 per share, topping the $1.47 consensus estimate. Snap — The social media platform pulled back nearly 18% after second-quarter revenue missed analysts' estimates. The firm reported revenue of $1.34 billion, while analysts polled by LSEG were looking for $1.35 billion. Arista Networks — Shares of the network equipment firm advanced 17% following better-than-expected expected second-quarter results. Arista Networks earned an adjusted 73 cents per share on revenue of $2.20 billion, while analysts polled by LSEG were looking for earnings of 65 cents per share and $6.11 billion in revenue. Opendoor Technologies — Shares of the online residential real estate stock plummeted more than 22% after issuing a weaker-than-expected third-quarter outlook. Opendoor said it expects revenue between $800 million and $875 million, while analysts polled by FactSet were looking for $1.20 billion. The stock has seen record-high trading volume in recent months, having caught the attention of retail traders, who have boosted the stock more than 36% so far in August. It was up fivefold since the start of July. Uber Technologies — The stock dipped 1%. The ride-hailing company reported second-quarter earnings of 63 cents per share, which was in line with the consensus estimate. Revenue of $12.65 billion exceeded the $12.46 billion expected by analysts polled by LSEG. Advanced Micro Devices — The chipmaker's shares dropped more than 6% after a disappointing second-quarter earnings report . The adjusted earnings of 48 cents per share were a penny shy of LSEG estimates. The company trails Nvidia in the graphics processing unit, or GPU, market. Rivian Automotive — Stock in the electric vehicle company fell 2% as its second-quarter results missed analysts' estimates. Rivian reported a wider-than-expected loss of 80 cents per share, after adjustments. Analysts polled by LSEG were looking for an adjusted loss of 65 cents per share. Upstart Holdings — The artificial intelligence-powered lending marketplace lost almost 17% despite offering a strong earnings report and outlook. Upstart earned an adjusted 36 cents per share on $257 million in revenue, beating the LSEG consensus forecasts of 26 cents in earnings per share and $225 million in revenue. Hinge Health — Shares surged more than 10% following stronger-than-expected second-quarter revenue. Hinge Health reported revenue of $139 million, while analysts surveyed by LSEG were looking for $125 million. The results are Hinge Health's first quarterly print as a publicly traded company. Lucid Group — The electric vehicle stock fell 9% after it adjusted its production outlook for 2025 . Lucid expects to produce between 18,000 and 20,000 vehicles, compared with a previous forecast of 20,000. Lucid's second-quarter results also missed analysts' estimates. BridgeBio Pharma — Shares were more than 11% lower after the pharmaceutical company reported a wider second-quarter loss than analysts were expecting. BridgeBio lost 95 cents per share, compared with a FactSet forecast for a loss of 79 cents per share. Super Micro Computer — The server stock plunged 21% after weaker-than-expected fourth-quarter results. Super Micro earned 41 cents per share on revenue of $5.76 billion, while analysts polled by LSEG were looking for a profit of 44 cents per share and $5.89 billion in revenue. The firm's first-quarter outlook also missed analysts' estimates. Match Group — The online dating service stock popped 8% after the firm issued a stronger-than-expected third-quarter revenue outlook. Match Group expects revenue in the current quarter to be between $910 million and $920 million, while analysts polled by LSEG were looking for $890 million. — CNBC's Scott Schnipper, Alex Harring, Brian Evans, Michelle Fox, Yun Li and Sarah Min contributed reporting.

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Under Armour forecasts downbeat quarterly sales, shares drop

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16 minutes ago

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Under Armour forecasts downbeat quarterly sales, shares drop

(Reuters) -Under Armour forecast second-quarter revenue below estimates on Friday as the sportswear maker grapples with muted demand in North America due to still-high inflation and tariff uncertainty, sending its shares down 14% in premarket trading. The Maryland-based retailer's attempts to reset its business after sales declined over the last two years have been in jeopardy, with consumer spending weakening in the U.S. as the Trump administration's fluctuating tariff policies fan uncertainty. Under Armour in May announced plans to raise prices, risking demand for its apparel as customers look for cheaper options. On Friday, the company said the forecast includes considerations for ongoing uncertainty around trade policies and the broader macroeconomic environment, including potential demand and cost impacts from tariffs. The company now expects quarterly revenue to decline between 6% and 7%, compared with analysts' average estimate of a 2.9% drop, according to data compiled by LSEG.

Under Armour forecasts downbeat second-quarter sales

Yahoo

16 minutes ago

Yahoo

Under Armour forecasts downbeat second-quarter sales

(Reuters) -Under Armour forecast second-quarter revenue below estimates on Friday as the sportswear maker grapples with muted demand in North America due to still-high inflation and tariff uncertainty. The company now expects quarterly revenue to decline between 6% and 7%, compared with analysts' average estimate of a 2.9% drop, according to data compiled by LSEG. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

30 minutes ago

World shares are mixed as Tokyo's Nikkei jumps nearly 2% on tariff news

MANILA, Philippines -- World shares were mixed on Friday, with Asian stocks mostly lower while Tokyo's benchmark spiked more than 2% after Japanese officials said they had resolved questions over the tariff that will apply to exports to the U.S. In early European trading, Germany's DAX lost 0.3% to 24,131.01. The CAC 40 in Paris added 0.3% to 7,730.40, while Britain's FTSE 100 edged less than 0.1% lower to 9,094.65. The future for S&P 500 was up 0.3% while that for the Dow Jones Industrial Average gained 0.1% . New U.S. tariffs on Japanese goods that took effect Thursday did not match an agreement between Washington and Tokyo on a 15% level, and Japan's main trade envoy said the U.S. side had agreed to correct the problem. The Nikkei 225 in Tokyo rose 2.2% but later trimmed some of its gains, adding 1.9% to 41,820.48. Toyota Motor Corp. jumped 3.5% and Honda Motor Co. was up 4%. Automakers are among the manufacturers with the most at stake regarding exports to the U.S. Elsewhere in Asia, most markets slipped following declines on Wall Street. Hong Kong's Hang Seng declined 0.9% to 24,858.82, while the Shanghai Composite index shed 0.1% to 3,635.13. South Korea's Kospi fell 0.6% to 3,210,01. In Australia, the S&P/ASX 200 slipped 0.3% to 8,807.10. Taiwan's Taiex gained 0.1% and the Sensex in India was down 0.8%. 'We're heading into a stretch where markets will punish certainty. The momentum winds are shapeshifters—what looks like a slam dunk on Monday can turn into a face plant by Friday,' Stephen Innes of SPI Asset Management said in a commentary. On Thursday, the S&P 500 edged 0.1% lower and the Dow industrials dipped 0.5%. The Nasdaq composite rose 0.3% to a record as shares in Apple and some computer chip makers soared. Intel sank 3.1% after Trump said its CEO should resign, accusing him of being 'highly CONFLICTED,' though he gave no evidence. But Apple rose 3.2% after its CEO Tim Cook joined Trump at the White House on Wednesday to say it's increasing its investment in U.S. manufacturing by an additional $100 billion over the next four years. Computer chip makers with big investments or manufacturing capacity in the U.S. surged higher after Trump ordered 100% tariffs on imported semiconductors but said companies with big U.S. investments would be exempt. Shares in Advanced Micro Devices jumped 5.7% and Nvidia gained 0.8%. A worse-than-expected report on the U.S. jobs market last week added to worries that President Donald Trump's tariffs are damaging the economy. But hopes for coming cuts to interest rates by the Federal Reserve and a torrent of stronger-than-expected profit reports from big U.S. companies are helping to offset those concerns. Lower interest rates can give the economy and investment prices a boost, though the downside is that they can also push inflation higher at a time when tariffs are also pushing prices up. The Bank of England cut its main interest rate on Thursday in hopes of bolstering the sluggish U.K. economy. In other dealings on Friday, U.S. benchmark crude oil gained 16 cents to $64.04 per barrel. Brent crude, the international standard, was up 19 cents at $66.61 per barrel. The U.S. dollar rose to 147.66 Japanese yen from 147.13 yen. The euro slipped to $1.1639 from $1.1667.