Several companies made headlines in midday trading. Brinker International saw its stock plummet around 12% after issuing a weaker-than-expected profit forecast for the full year and reporting disappointing fourth-quarter earnings. Victoria’s Secret, on the other hand, saw shares surge more than 16% following the appointment of former Savage X Fenty CEO Hillary Super as the company’s new CEO. Flutter also experienced a jump of over 9% after reporting better-than-expected second-quarter revenue and raising its full-year guidance. Kellanova saw a 7.7% increase in its stock price after agreeing to be acquired by snackmaker Mars in a deal valued at about $36 billion.
Alphabet, on the other hand, saw its stock move around 3.5% lower after reports emerged that the Department of Justice is considering breaking up the tech company. Arm Holdings, a British chip designer, saw its U.S.-listed shares rise 4.3% after Intel sold its stake in the company. Cardinal Health experienced a more than 5% increase in its stock price after reporting fiscal fourth-quarter results that surpassed Wall Street’s expectations and raising its full-year earnings guidance. Starbucks, on the other hand, saw its shares fall around 4% after surging 24.5% the previous day following the announcement of a new CEO.
In terms of analyst upgrades and downgrades, Illumina saw its stock gain 2.2% after being upgraded to buy from hold at TD Cowen. Nu Holdings, a Brazilian digital banking platform, saw shares rise by 4% after reporting second-quarter results that exceeded expectations in terms of adjusted net income and revenue. These companies are among those making waves in the stock market during midday trading.
Brinker International’s stock plummeted around 12% after the company issued a weaker-than-expected profit forecast for the full year and reported disappointing fiscal fourth-quarter earnings. Victoria’s Secret saw shares surge more than 16% following the appointment of a new CEO. Flutter experienced a jump of over 9% after reporting better-than-expected second-quarter revenue and raising its full-year guidance. Kellanova agreed to be acquired by Mars in a deal valued at about $36 billion, leading to a 7.7% increase in its stock price.
Alphabet’s stock moved around 3.5% lower after reports emerged that the Department of Justice is considering breaking up the tech company. Arm Holdings saw its U.S.-listed shares rise 4.3% after Intel sold its stake in the company. Cardinal Health moved more than 5% higher after reporting fourth-quarter results that surpassed Wall Street’s expectations and raising its full-year earnings guidance. Starbucks saw its shares fall around 4% after surging the previous day following the announcement of a new CEO.
In terms of analyst upgrades and downgrades, Illumina saw its stock gain 2.2% after being upgraded to buy from hold at TD Cowen. Nu Holdings, a Brazilian digital banking platform, saw shares rise by 4% after reporting second-quarter results that exceeded expectations in terms of adjusted net income and revenue. These companies are among those making headlines in midday trading and are attracting attention from investors and analysts alike.
