Stocks making the biggest moves midday: GE Vernova, Texas Instruments, Krispy Kreme and more

CNBC

2 days ago

Check out the companies making headlines in midday trading: GE Vernova — Shares jumped 14% as strong power demand outweighed the impact of President Donald Trump's tariffs. GE Vernova has raised its full-year guidance after a strong first half and said the tariff impact will likely come in at the low end of $300 million to $400 million. GoPro , Krispy Kreme — Reddit-obsessed retail traders found their new targets Wednesday, pushing up shares of wearable camera firm GoPro and doughnut maker Krispy Kreme by 21% and 8%, respectively. The so-called short squeeze could be at play as they both have elevated levels of short interest. The two stocks are heavily cited on WallStreetBets , the online forum behind the infamous GameStop mania in 2021. Lamb Weston — The french fry producer surged 16% after reporting a fiscal fourth-quarter earnings and revenue beat. Lamb Weston posted adjusted earnings of 87 cents per share on revenue of $1.68 billion, exceeding the earnings of 63 cents per share and $1.59 billion revenue analysts had expected, per FactSet. The company also introduced a cost-savings program aiming to deliver at least $250 million in annualized run rate savings by the end of fiscal year 2028. Fiserv — Shares plummeted 15% after the fintech company lowered its full-year organic revenue guidance to growth of around 10%, whereas previously the company was expecting growth in the range of between 10% to 12%. However, Fiserv reported second-quarter adjusted earnings and revenue that beat analyst estimates, according to FactSet. The company also announced it would acquire part of TD Bank's merchant processing business in Canada. Otis — Shares of the elevator maker fell 10% after the company lowered its revenue forecast on the expectation that there will be weak demand for new equipment. The company now expects annual sales to be in the range of $14.5 billion to $14.6 billion, down from a prior estimate of $14.6 billion to $14.8 billion. Lennox International — The maker of climate control solutions saw its shares rise 9% after boosting earnings expectations for the full year. Lennox now predicts earnings of $23.25 to $24.25 a share for the year, up from a prior range of $22.25 to $23.50 per share. Texas Instruments — The chip stock dropped more than 11% after the firm released a third-quarter forecast that missed estimates. The semiconductor company did report second-quarter results that beat analysts' expectations for revenue and earnings, however. Hilton Worldwide — The hotel stock slipped 2% despite Hilton posting a second-quarter earnings and revenue beat. Hilton reported adjusted earnings of $2.20 per share on revenue of $3.14 billion, while analysts polled by LSEG had expected earnings of $2.04 a share and $3.10 billion in revenue. The company also raised its full-year earnings guidance to between $7.83 and $8.00 per share, versus its prior range of between $7.76 and $7.94 a share. SAP — U.S.-listed shares of the enterprise software company fell more than 4%. The company posted 9.03 billion euros for second-quarter revenue, missing the LSEG consensus estimate of 9.08 billion euros. Enphase Energy — The solar stock dropped about 15% after the firm issued third-quarter revenue guidance that came below Wall Street estimates. Enphase said tariffs had affected its gross margin. — CNBC's Yun Li, Spencer Kimball, Alex Harring, Lisa Han and Fred Imbert contributed reporting.