Stocks making the biggest moves midday: SoFi, ON Semiconductor, Disney, Sweetgreen and more
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Check out the companies making headlines in midday trading.
SoFi Technologies – Shares of the fintech company popped more than 18% after it reported second-quarter results and lifted its full-year guidance. SoFi Technologies posted a narrower-than-expected loss of 6 cents a share on a GAAP basis. Analysts surveyed by FactSet had expected a 7-cent loss per share.
ON Semiconductor — The chipmaker's shares jumped 3.2% after it posted an earnings and revenue beat for the second quarter. The company reported $1.33 earnings per share, excluding items, on $2.09 billion in revenue. Analysts polled by FactSet had estimated $1.21 earnings per share and $2.02 billion in revenue.
Disney — Disney climbed 3% after the Financial Times reported that the entertainment giant brought back back former executives Kevin Mayer and Tom Staggs, both of whom were once considered potential successors to Bob Iger.
New Relic — Shares jumped 13.4% after a private equity consortium announced it would take the software company private. The all-cash deal values the company at nearly $6.5 billion and offers $87 per share.
Spero Therapeutics — Shares ascended 14% after the company announced it reached an agreement with the Food and Drug Administration to have a special protocol assessment in its phase 3 trial for a urinary tract infection drug.
Sweetgreen — The salad chain's shares jumped 11% Monday after an upgrade from Piper Sandler. The firm raised its rating on the stock to overweight from neutral, saying that the tide may be turning for the company.
XPeng — The Chinese electric vehicle maker tumbled 13.6% following a downgrade from UBS to neutral from buy. UBS said the company's near-term gains may now all be priced in after shares
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