Several companies were making headlines in midday trading, with Moderna’s shares pulling back more than 3% following a downgrade to underweight from JPMorgan. The firm cited changes to Moderna’s revenue forecast as a potential headwind for the stock’s performance moving forward. On the other hand, Oracle saw its stock rise nearly 2% after raising its fiscal 2026 revenue outlook and issuing strong guidance for the 2029 fiscal year. Aptiv PLC also experienced a 3% climb in its stock price after CEO Kevin Clark bought about 30,000 shares of the auto parts company earlier in the week.
RH, a home furnishings retail company, saw a significant jump of 25% after posting stronger-than-expected second-quarter results. The company reported $1.69 in adjusted earnings per share on $830 million of revenue, surpassing analyst expectations. CEO Gary Friedman noted that demand had accelerated into the third quarter and the company anticipated this trend to continue into 2025. Uber’s shares advanced more than 5% following news of an expanded partnership with Alphabet’s Waymo, allowing Uber to offer robotaxi services in Austin, Texas, and Atlanta beginning early next year. However, Adobe’s shares tumbled 9% after issuing weaker-than-expected guidance for the current quarter, despite topping fiscal third-quarter estimates on the top and bottom lines.
Boeing’s stock slid about 4% as factory workers went on strike and rejected a new labor contract, potentially affecting production of its key 737 Max aircraft. On a more positive note, Unity Software saw its shares rise nearly 7% after Stifel raised its price target on the game engine company to reflect a 32% upside from the previous close. Shares of U.S. e-commerce stocks Etsy and Wayfair both advanced 7% following the Biden administration’s announcement of plans to close trade loopholes related to low-cost imports into the U.S. without paying duties and processing fees. Meanwhile, China-based PDD Holdings saw its shares slip more than 3%.
Real estate brokerage firm Redfin Corporation surged 21%, alongside builder and real estate stocks broadly rising as investors anticipated an expected rate cut from the Federal Reserve. The iShares U.S. Home Construction ETF (ITB) and SPDR S & P Homebuilders ETF (XHB) were both up about 3% each. Warner Bros. Discovery’s shares advanced about 9% after entering an early renewal agreement with Charter Communications and CEO David Zaslav’s projection of adding more than six million subscribers throughout the current quarter. Overall, various companies experienced significant movement in their stock prices during midday trading, driven by a range of factors such as financial performance, strategic partnerships, and market dynamics.
