At midday, a number of widely-known companies are making headlines. Intel, the chip stock, soared 6% after its second-quarter earnings results exceeded analyst predictions, restoring it to profitability following two previous losing quarters. The company is expecting above-average results for the third quarter as well. Meanwhile, Roku's shares rose 25% after it revealed a smaller-than-expected loss in its latest quarter and overtook analysts' estimates for revenue. NY Community Bancorp's stock gained 4.8% after JPMorgan upgraded it to 'Overweight'. Biogen acquired Reata Pharmaceuticals in a $7.3 billion cash deal, with shares of Reata rising 50% due to the news. Procter & Gamble's stock was up 5%, despite a lukewarm outlook for its 2024 sales, after the consumer giant released strong quarterly earnings and revenue results. Shares of Exxon Mobil dropped 1.6%, however, after it posted dissatisfying second-quarter figures. Enphase Energy's stock fell 10%, hitting a 52-week low following a revenue miss, with several banks downgrading the stock. Boston Beer's shares soared 18% after it exceeded expectations for earnings and revenue. Sweetgreen's stock declined 10% after it posted weaker-than-expected sales and reported a net loss of $27.3 million. Ford Motors' stock was 3% lower, as it anticipated losses of $4.5 billion in its electric vehicles business this year. Conversely, T. Rowe Price went up 10% after the asset manager posted impressive second-quarter earnings above analyst predictions and talked about cost savings that would restrict its future expenses growth.
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