Stocks making the biggest moves midday: Intel, Roku, Sweetgreen, Ford & more
Check out the companies making headlines in midday trading.
Intel — The chip stock jumped more than 6% after the company posted better-than-expected second-quarter earnings results. The latest quarter marked a return to profitability after two consecutive losing periods. Intel's forecast for the third quarter also came in above analyst expectations.
Roku – Shares popped more than 25% after the company reported a smaller-than-expected loss for the recent quarter. The streaming stock posted a loss of 76 cents a share, ahead of the $1.26-loss per share expected by analysts, according to Refinitiv. Revenues came in at $847 million versus the estimated $775 million.
New York Community Bancorp – The regional bank stock added 4.8% after JPMorgan upgraded shares to overweight from neutral, calling it a «massive market share taker» in the near and medium term.
Biogen — The biotech company rose nearly 1% after the company said it's acquiring Reata Pharmaceuticals for $172.50 per share, in a cash deal valued at about $7.3 billion. Shares of Reata popped more than 50% following the news.
Procter & Gamble — The consumer giant's stock climbed nearly 5%, boosting the blue-chip Dow Jones Industrial Average. The rally came after the company reported quarterly earnings and revenue that beat analysts' expectations. P&G did release a gloomy outlook for its fiscal 2024 sales that fell short of Wall Street's estimates, however.
Exxon Mobil — The oil giant saw its shares dip 1.6% after the company posted mixed second-quarter results. The company reported earnings of $1.94 a share, excluding items, lower than the $2.01 estimate by analysts, per Refinitiv. Revenues came in at $82.91 billion, above the expected $80.19 billion.
Enphase Energy –
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