At midday, several companies were making headlines. Scholastic jumped 14.2% after it upped its share repurchase and reported favorable quarterly results. The publisher posted $2.26 in earnings per share on revenue of $428.3 million. Meanwhile, Tesla tanked despite its second-quarter earnings beat, and American Express's shares slid about 4%, as revenue of $15.05 billion failed to meet the expectations of analysts polled by Refinitiv. Herc dropped more than 5% due to the ongoing writers and actors strike in Hollywood, while AutoNation tumbled 7% after reporting second-quarter results that exceeded forecasts on the top and bottom lines. Knight-Swift Transportation gained more than 2% despite weaker-than-expected earnings and revenue, whereas PPG Industries increased by 1.7%, as it posted strong second-quarter results. Capital One Financial rose about 1% after its second-quarter adjusted earnings of $3.52 per share exceeded the Refinitiv estimate of $3.23 per share. However, Intuitive Surgical declined 1.6% after its systems revenue for the second quarter came in lower than expected. Sunnova Energy International went down more than 3% following a downgrade from BMO Capital Markets, and CSX slid more than 4% after its second-quarter revenue of $3.7 billion fell shy of analysts' estimates.— CNBC's Michelle Fox, Alex Harring and Hakyung Kim contributed reporting.
Comments