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Home»Business»Finance
Finance

rewrite this title Stocks making the biggest moves midday: Kenvue, Caterpillar, Uber, CrowdStrike and more

August 6, 2024No Comments4 Mins Read
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Summarize this content to 2000 words in 6 paragraphs Check out the companies making the biggest moves midday: Kenvue — The maker of Band-Aid bandages rallied 14% after beating analysts’ estimates for its second quarter. Kenvue, which spun off from Johnson & Johnson last year, posted adjusted earnings of 32 cents per share, versus the 28 cents expected from analysts polled by FactSet. Revenue was $4 billion, compared to the $3.93 billion consensus estimate. Palantir Technologies — Shares popped 13% after the defense tech 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. Caterpillar — The industrial giant jumped 3% following a stronger-than-expected quarterly report. Caterpillar’s adjusted earnings totaled $5.99 per share in the second quarter, beating the $5.55 per share estimate from analysts polled by FactSet. Lumen Technologies — The telecommunications stock soared 77% following the company’s announcement post-close Monday that it secured $5 billion in new business driven by artificial intelligence-fueled demand for connectivity. Molson Coors Beverage — Shares gained 7% after the beer maker reported second-quarter adjusted earnings of $1.92 per share, topping the $1.68 per share anticipated from analysts polled by FactSet. Revenue also beat expectations, coming in at $3.25 billion versus the $3.18 billion consensus estimate. Uber Technologies — The ride-sharing company added 9% following its earnings and revenue beat . Second-quarter earnings came in at 47 cents per share, beating the 31 cents expected from analysts polled by LSEG. Revenue was $10.7 billion, topping the $10.57 billion consensus estimate. Planet Fitness — Shares jumped 9% following the fitness company’s second-quarter financial results that beat on the top and bottom lines. Planet Fitness reported adjusted earnings of 71 cents per share on revenue of $300.9 million. Analysts polled by FactSet were expecting adjusted earnings of 66 cents on revenue of $290.2 million. Yum China — The stock jumped 11.7%.The Shanghai-based operator behind Pizza Hut and Taco Bell posted second-quarter earnings that beat expectations. However, revenue came in below the consensus estimate. Separately, the fast-food company announced its finance chief is stepping down . ZoomInfo Technologies — Shares of the customer acquisition tech company tumbled 18% after a quarterly report that missed expectations. ZoomInfo said it earned an adjusted 17 cents per share on $291.5 million of revenue in the second quarter. Analysts surveyed by LSEG were looking for 23 cents per share on $308 million of revenue. The company also lowered its earnings guidance for the full year and announced a change of its chief financial officer. CSX — Shares gained nearly 4% following the rail transportation holding company’s second-quarter results. CSX posted earnings of 49 cents per share, which is above the 48 cents that analysts surveyed by LSEG were expecting. Revenue, on the other hand, was in line with the consensus estimate of $3.7 billion. Lucid Group — The stock added almost 2% following the electric vehicle company’s revenue beat. Lucid posted revenue of $200.6 million, above the LSEG consensus estimate of $192 million. BioMarin Pharmaceutical — The biopharma stock surged nearly 9%. The company posted adjusted earnings of 96 cents per share for the second quarter, beating the 35 cents anticipated from analysts polled by FactSet. Revenue also topped expectations. In addition, BioMarin raised its full-year earnings and revenue guidance. CrowdStrike — Shares rose 3% after Piper Sandler upgraded CrowdStrike to overweight from neutral, saying the dip in the cybersecurity stock following the global tech outage is a buying opportunity. The stock is down 10% this year, having tumbled 40% just this quarter. — CNBC’s Sarah Min, Sean Conlon, Yun Li and Jesse Pound contributed reporting.

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