Kenvue, the maker of Band-Aid bandages, saw its stock price rally by 14% after exceeding analyst expectations for its second quarter. The company, which recently spun off from Johnson & Johnson, reported adjusted earnings of 32 cents per share, surpassing the 28 cents per share predicted by FactSet. Additionally, Kenvue’s revenue came in at $4 billion, beating the consensus estimate of $3.93 billion.
Shares of defense tech company Palantir Technologies jumped 13% after the company raised its full-year revenue forecast. Palantir now anticipates revenue between $2.742 billion and $2.750 billion, up from its previous guidance of $2.68 billion to $2.69 billion.
Industrial giant Caterpillar saw its stock price increase by 3% following a stronger-than-expected quarterly report. The company reported adjusted earnings of $5.99 per share in the second quarter, beating the $5.55 per share estimate from analysts.
Telecommunications stock Lumen Technologies soared by 77% after the company announced that it secured $5 billion in new business driven by artificial intelligence-fueled demand for connectivity.
Shares of beer maker Molson Coors Beverage gained 7% after the company reported second-quarter adjusted earnings of $1.92 per share, topping the $1.68 per share anticipated by analysts. The company also exceeded revenue expectations, reporting $3.25 billion compared to the $3.18 billion consensus estimate.
Ride-sharing company Uber Technologies saw its stock price rise by 9% following an earnings and revenue beat in the second quarter. Uber reported earnings of 47 cents per share, beating the 31 cents expected by analysts. Revenue also exceeded expectations, coming in at $10.7 billion compared to the $10.57 billion consensus estimate.
Shares of fitness company Planet Fitness jumped 9% after reporting second-quarter financial results that beat on both the top and bottom lines. Planet Fitness reported adjusted earnings of 71 cents per share on revenue of $300.9 million, exceeding analysts’ expectations.
The stock of Shanghai-based operator Yum China, known for brands like Pizza Hut and Taco Bell, surged by 11.7% after the company reported second-quarter earnings that beat expectations. However, the company’s revenue fell below the consensus estimate. Additionally, Yum China announced that its finance chief is stepping down.
Shares of customer-acquisition tech company ZoomInfo Technologies tumbled by 18% following a quarterly report that missed expectations. The company reported earnings of 17 cents per share on $291.5 million of revenue in the second quarter, falling short of analysts’ predictions. ZoomInfo also lowered its earnings guidance for the full year and announced a change in its chief financial officer.
Rail transportation holding company CSX saw its stock price increase by nearly 4% after reporting second-quarter earnings of 49 cents per share, surpassing analysts’ expectations. Revenue for the company was in line with the consensus estimate of $3.7 billion.
Electric vehicle company Lucid Group’s stock price increased by almost 2% following a revenue beat. The company reported revenue of $200.6 million, above the consensus estimate.
Biopharma company BioMarin Pharmaceutical saw its stock surge by nearly 9% after reporting adjusted earnings of 96 cents per share for the second quarter, beating analysts’ expectations. The company also raised its full-year earnings and revenue guidance.
Shares of cybersecurity company CrowdStrike rose by 3% after Piper Sandler upgraded the stock to overweight from neutral. The upgrade came as Piper Sandler stated that the recent dip in the stock following a global tech outage presented a buying opportunity for investors.
The midday stock moves of these companies showcase a diverse range of outcomes, with some exceeding expectations and others facing declines. It is essential for investors to carefully analyze the financial performance and future outlook of individual companies before making investment decisions.