top of page
Lanon Wee

Biggest Stock Market Movers at Midday: SoFi, ON Semiconductor, Disney, Sweetgreen, and More

. At midday, several companies have been gaining attention in the markets. SoFi Technologies saw a surge of 18% after posting a better than expected second-quarter result and raising their full-year guidance. The reported 6 cents a share loss on a GAAP basis came in lower than the projected 7-cent per share loss from FactSet. ON Semiconductor was boosted after releasing second quarter earnings that exceeded its estimates with $1.33 earnings per share, not including items, on revenue of $2.09 billion, as compared to FactSet's expectations of $1.21 EPS and $2.02B revenue. Disney's shares are up 3% following news of the company rehiring former executives Kevin Mayer and Tom Staggs, both of whom were former potential successors of Bob Iger. New Relic's stock prices jumped 13.4% in the wake of a private equity consortium's announcement to take the company private - the all-cash deal is valued at nearly $6.5 billion, with $87 per share being offered. Additionally, Spero Therapeutics saw a 14% increase after announcing an agreement with the Food and Drug Administration for a special protocol assessment for their Phase 3 trial of a urinary tract infection drug. Piper Sandler raised Sweetgreen to an overweight rating from neutral, which saw the company's stock rise 11%. XPeng's shares dropped 13.6% after UBS downgraded it to neutral from buy, saying that the near-term gains may have been priced in after the stock rising more than doubling in price this year. Hasbro saw a 3% increase following a buy rating from Bank of America, who stated potential earnings beat in Thursday's report due to the success of the cards set connected with Lord of the Rings. Cowen upgraded GoodRx to outperform, leading to a 33% rally in the digital healthcare platform's stocks. Morgan Stanley upgraded Adobe to an overweight rating from equal weight, and Bank of America upgraded Chevron to buy from neutral. New York Community Bancorp and Wayfair both saw a stock increase with respective upgrades from Deutsche Bank and Piper Sandler, and CSX saw a 1.4% decrease in shares with RBC downgrading it to sector perform from outperform. Lastly, Morgan Stanley downgraded Salesforce to an equal weight from overweight, causing the stock to dip by nearly 1%. CNBC's Hakyung Kim, Yun Li, Sarah Min, Tanaya Macheel, and Samantha Subin have all contributed to the reporting.

Comentarios


bottom of page