These are some of the stocks posting the largest moves midday.
Check out some of the companies making the biggest moves midday: Carrier Global — The air conditioner manufacturer slid 10% after reporting in-line second-quarter results. Management told analysts on a conference call that U.
S. residential and light commercial sales are projected to decline 10% in the second half due to lower volumes, according to a StreetAccount transcript. Johnson Controls International — The maker of HVAC, building automation and control equipment fell 7% after issuing forward financial guidance that failed to impress investors, StreetAccount said. Even after Tuesday's decline, Johnson Controls has climbed more than 36% over the past six months. Stanley Black & Decker — The hand tool maker fell 8% after second-quarter revenue trailed the Wall Street consensus estimate as compiled by FactSet, while full-year free cash flow guidance also trailed what analysts had expected. Polaris — Shares surged 12% after the snowmobile manufacturer posted second-quarter adjusted earnings of 40 cents per share, while analysts polled by LSEG had expected per share profit to break even. Revenue of $1.85 billion also exceeded expectations for $1.71 billion. Royal Caribbean Cruises — The stock sank nearly 5% after the cruise operator's second-quarter revenue of $4.54 billion fell short of the $4.55 billion LSEG consensus estimate. Royal Caribbean's guidance for third-quarter adjusted earnings also missed expectations. Shares have rallied 44% so far this year amid strong travel demand. Spotify Technology — The music streaming platform tumbled 10% after swinging to a loss in the second quarter, despite seeing an increase in premium subscriptions. Spotify said its performance was hurt by higher labor costs, including payroll taxes, and slower growth in ad-supported revenue. Chart Industries — Shares of the gas equipment manufacturer surged 16% after it agreed to be acquired by Baker Hughes for $13.6 billion. Chart Industries had previously been in merger talks with power equipment supplier Flowserve , which was last up 8%. Baker Hughes shares fell less than 2%. The deal news comes as Chart reported better-than-expected second-quarter earnings, excluding items. Sarepta Therapeutics — The biopharmaceutical stock soared 24% after announcing that the U.S. Food and Drug Administration had recommended removing its voluntary hold on Elevidys for use with ambulatory patients, which was instated following a recent patient death. On Tuesday, Oppenheimer upgraded the stock to an outperform rating from perform, while JPMorgan upgraded shares to neutral from underweight. Cadence Design Systems — Shares gained 8% after the computer software company posted second-quarter adjusted earnings of $1.65 per share on $1.28 billion in revenue. Analysts polled by LSEG had expected earnings of $1.55 per share and revenue of $1.25 billion. The company also lifted its full-year earnings and revenue guidance. Nucor — The steel producer fell 6% after posting adjusted earnings and revenue for its second quarter that missed analysts' expectations, per LSEG. Nucor also anticipates its third-quarter earnings will be " nominally lower " than those of its second quarter. Amkor Technology — Shares popped 17% after the semiconductor packager reported second-quarter earnings of 22 cents per share on revenue of $1.51 billion. Analysts surveyed by FactSet had penciled in earnings of 16 cents per share and $1.42 billion in revenue. Stellantis — U.S.-listed shares fell almost 2% after the Jeep and Chrysler parent reported a first-half net loss of 2.3 billion euros, or $2.65 billion. During the same period in 2024, it had reported a net profit of 5.6 billion euros. The company also reinstated its financial guidance. UnitedHealth Group — The health insurer shed 6% after a 2025 outlook missed analysts' expectations . UnitedHealth forecast adjusted earnings for fiscal 2025 of $16 per share, coming below the $20.91 per share consensus estimate, per LSEG. The company's anticipated fiscal-year revenue of $448 billion was also less than the expected $449.16 billion. United Parcel Service — Shares sank 10% after the shipping company said it earned $1.55 per share, after adjustments, slightly missing the $1.56 per share analysts polled by LSEG had expected. The company also did not provide revenue guidance, citing macroeconomic uncertainty. Merck — Shares dropped 4% after the drugmaker missed revenue expectations for the second quarter. Revenue of $15.81 billion was less than the LSEG consensus estimate of $15.89 billion. The company also said it would cut $3 billion from costs by the end of 2027. Whirlpool — The home appliance maker tumbled 10% after missing analysts' second-quarter estimates due to pressure from tariffs. The company also projected full-year adjusted earnings that were below consensus and slashed its dividend. Following the report, Bank of America downgraded the stock to an underperform rating from neutral. Union Pacific , Norfolk Southern — Union Pacific and Norfolk Southern both slid more than 3% after the two freight carriers agreed to merge in a $250 billion stock and cash agreement, creating the first transcontinental railroad . PayPal — The stock slid 9% after PayPal issued third-quarter earnings guidance that fell short of expectations. The payments company expects adjusted earnings per share of $1.18 to $1.22, on the lower end of the LSEG consensus estimate of $1.20. On the other hand, the company beat earnings and revenue expectations for the second quarter and raised its full-year forecast, implying a stronger fourth quarter. Novo Nordisk — U.S.-listed shares plunged 22% after the Danish-based insulin maker slashed its full-year sales and profit guidance . Novo Nordisk expects weaker growth in the U.S. for its obesity drug, Wegovy. The company also named internal candidate Maziar Mike Doustdar as its new CEO. Boeing — The aerospace and defense company fell almost 4% after posting a second-quarter adjusted loss of $1.24 per share, which was narrower than the expected loss of $1.48 per share, according to LSEG. Boeing's $22.75 billion in revenue exceeded expectations of $21.84 billion. Last quarter, Boeing delivered the most airplanes it had since 2018 . Corning — The fiber optic cable maker climbed 12% after posting second-quarter adjusted earnings of 60 cents per share, beating the LSEG estimate of 57 cents. Corning's $4.05 billion in revenue also beat estimates for $3.86 billion. — CNBC's Michelle Fox, Alex Harring, Lisa Han, Christina Cheddar-Berk and Sarah Min contributed reporting.
Market Insider Markets Economy Business Stock Markets Breaking News: Markets Chart Industries Inc Dividends Johnson Controls International PLC Carrier Global Corp United States Boeing Co Amkor Technology Inc Baker Hughes Co Cadence Design Systems Inc Flowserve Corp Corning Inc Merck & Co Inc Norfolk Southern Corp Nucor Corp Unitedhealth Group Inc Union Pacific Corp United Parcel Service Inc Whirlpool Corp Sarepta Therapeutics Inc Paypal Holdings Inc Stellantis NV Novo Nordisk A/S Stanley Black & Decker Inc Factset Research Systems Inc Polaris Inc Royal Caribbean Cruises Ltd Spotify Technology SA Business News
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