Several companies have been making headlines in midday trading, with notable developments impacting their stock prices. Advanced Micro Devices (AMD) saw its stock surge by 8% after beating analyst expectations for its third-quarter earnings. The chipmaker also provided positive guidance for artificial intelligence GPU revenue in 2024.
Generac, the generator builder, experienced a significant increase of over 15% after surpassing Wall Street’s third-quarter estimates. The company reported earnings per share of $1.64 on revenue of $1.07 billion, exceeding analysts’ predictions of $1.51 per share on revenue of $1.04 billion.
Estee Lauder, the cosmetics company, suffered a steep decline of more than 17% following disappointing quarterly earnings. The company also revised its full-year earnings per share guidance downward to a range between $2.17 and $2.42, compared to the previous guidance of $3.50 to $3.75 per share.
CVS, the pharmacy chain, saw its stock drop by 2% after its medical benefit costs came in 1% higher than estimates, despite beating expected third-quarter earnings and revenue.
Humana, an insurance company, experienced a decline of over 4% after lowering its full-year guidance for earnings per share, despite exceeding consensus on third-quarter earnings per share.
Match Group, a dating services company, plummeted by 16% after issuing weaker-than-expected guidance for fourth-quarter revenue.
Yum China, the fast food restaurant conglomerate, dipped by more than 20% as its third-quarter revenue fell short of analysts’ expectations, coming in at $2.91 billion instead of the projected $3.06 billion.
DuPont de Nemours, a chemical company, witnessed a more than 6% drop in shares as its third-quarter revenue of $3.06 billion was lower than the expected $3.15 billion.
Garmin, a technology company, saw its stock rise by 10% after reporting third-quarter revenue of $1.28 billion, surpassing analysts’ expectations of $1.21 billion. The company also raised its full-year revenue guidance to $5.15 billion, compared to the previous estimate of $5.05 billion.
Paycom Software, an HR and payroll company, experienced a significant decrease of over 36% after its third-quarter revenue fell short of expectations. The company also provided lower-than-estimated guidance for fourth-quarter revenue.
Trimble, a technology and software stock, suffered a 13% drop in shares after reporting third-quarter revenue below estimates. The company also lowered its full-year guidance for both revenue and earnings per share and announced that CFO David Barnes will retire from the company in May.
Automaker Ford saw its stock rise by 1% after receiving an upgrade from Barclays. The bank upgraded both Ford and General Motors to overweight, citing historically low valuations for the stocks.
These developments in the stock market have caught the attention of investors and analysts alike, as they navigate the volatile landscape of midday trading.