Check out the companies that made the biggest moves at midday: XYZ – The financial services provider plunged 10% after reporting third-quarter earnings per share of 54 cents, compared to analyst estimates compiled by LSEG of 67 cents. Block’s sales of $6.11 billion also fell short of expectations of $6.31 billion. Globus Medical — The medical device maker soared 32% after third-quarter results excluding one-time items, with revenue beating analysts’ highest estimates. Globus also raised its fourth-quarter earnings per share and revenue guidance, and in response, Trust and Bank of America also raised their ratings from hold to buy, according to FactSet. Constellation Energy — The Baltimore-based power company fell nearly 5% after its third-quarter adjusted operating profit of $3.04 per share fell below the analyst consensus of $3.11, according to street estimates compiled by FactSet. Constellation, the nation’s largest nuclear power plant, also lowered its full-year profit outlook to $9.49, below the consensus estimate from analysts. Archer Aviation — Shares fell 12% after the air taxi developer announced a $650 million stock offering to fund the acquisition of Los Angeles’ Hawthorne Airport. The company is inching closer to certification for its electric aircraft and has plans to offer air taxi services for the 2028 Olympics. The possibility of an offering that would dilute the value of Archer’s shares was overshadowed by news that the company’s third-quarter loss was lower than expected. DoubleVerify — Shares fell 18% after the software company reported weaker-than-expected third-quarter results and lowered its full-year revenue outlook. DoubleVerify earned 6 cents a share, compared with analysts’ consensus expectations of 10 cents and a low estimate of 7 cents, according to FactSet. Sales were $188.6 million, lower than analysts’ expectations of $190.2 million, and DoubleVerify lowered its full-year sales growth forecast from 15% to 14%. Akamai Technologies — Cloud security stock rose 11% after better-than-expected third-quarter profits. Excluding certain items, the company’s earnings were $1.86 per share. This beat FactSet’s estimate of $1.64 per share. The profit outlook for the fourth quarter also exceeded expectations. Microchip Technology — The company fell 9% as its second-quarter results broadly met analysts’ expectations and disappointed investors. The company’s third-quarter earnings outlook was also lower than expected. Positive — Fintech stocks rose 5.5% after the company posted better-than-expected earnings and sales in the third quarter. Affirm’s quarterly total volume also exceeded TheStreet’s expectations. Universal Display — Shares of the developer of organic light-emitting diode technology fell more than 13% after the company reported disappointing third-quarter earnings, due in part to tariffs. However, the company reiterated that its 2025 outlook is in the lower half of the range of $650 million to $700 million. Celanese — The chemical maker rose 10% after third-quarter earnings per share and adjusted EBITDA beat analysts’ top estimates, according to numbers compiled by FactSet. JFrog — maker of supply chain software soared 24%. Third-quarter earnings excluding one-time items beat analysts’ highest estimates, according to FactSet, and Oppenheimer raised its stock price in response. Opendoor — The online rental company’s quarterly revenue fell more than 30% and its stock price fell more than 3%. The company’s new CEO laid out a new turnaround strategy, saying he would “rebuild Opendoor as a software and AI company.” Take-Two Interactive — The video game maker fell 8% after announcing a further delay in the release of Grand Theft Auto VI. The highly anticipated game is scheduled to be released in November 2026. Peloton — The connected fitness company posted a surprise profit in the first quarter and rose 5%. Peloton earned 3 cents per share on revenue of $550.8 million. Analysts surveyed by LSEG expected the company to break even on sales of $540.7 million. Sunrun — Shares fell 18% after the provider of residential solar panels and battery storage systems reported third-quarter results. The company announced that subscriber growth was 30,104, a 1% decrease compared to the third quarter of 2024. Monster Beverage — The Monster Energy beverage maker’s stock rose by 7 after the company reported higher sales and bottom line results for the third quarter. The company reported adjusted earnings of 56 cents per share on revenue of $2.2 billion. Analysts surveyed by LSEG had expected earnings of 48 cents per share on revenue of $2.11 billion. Sweetgreen — The salad chain fell 12% after cutting its full-year forecast again as consumers cut back on spending. Sweetgreen now expects sales to be between $682 million and $688 million this year, down from its previous forecast of $700 million to $715 million. Expedia — The online travel company soared more than 17% as its third-quarter results beat expectations on strong travel demand. Expedia also gave a rosy outlook for the fourth quarter, expecting sales to rise between 6% and 8%, well above the consensus estimate of 2.7%. Dropbox — The data storage company soared 8% after announcing better-than-expected third-quarter results. Dropbox earned 74 cents per share, excluding items, on revenue of $634.4 million. Analysts surveyed by FactSet had expected revenue of $624 million and earnings of 65 cents per share. MP Materials — The rare earth mining company rose 6% after mixed third-quarter numbers. The company’s loss per share was 10 cents, better than the 18 cent loss expected by analysts surveyed by LSEG. Revenue was $53.6 million, below the consensus estimate of $54.9 million. —CNBC’s Christina Cheddar-Berk, Elizabeth Napolitano, Yun Li, Sarah Min and Fred Imbert contributed reporting.
