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Stocks making the biggest moves midday: PepsiCo, Texas Instruments, ServiceNow, IBM and more

Garry Wills by Garry Wills
April 24, 2025
in Business Finance
Stocks making the biggest moves midday: PepsiCo, Texas Instruments, ServiceNow, IBM and more
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Check out the companies making headlines in midday trading: Hasbro — The toymaker soared 16.3% after the company’s first-quarter report beat expectations. Hasbro earned $1.04 per share, excluding items, on $887.1 million in revenue. Analysts polled by FactSet forecast 67 cents in earnings per share and $771.1 million in revenue. Hasbro added it is not changing its full-year guidance “given the uncertainty of the current tariff environment.” Fiserv — Shares of the software provider plunged 17% after Fiserv’s adjusted revenue missed expectations. Fiserv reported adjusted first-quarter revenue of $4.79 billion, while analysts polled by FactSet expected $4.84 billion. Comcast — The stock pulled back more than 4% after the cable giant saw a drop in customers for the first quarter , reporting a loss of 199,000 total domestic broadband customers and a loss of 427,000 cable TV customers. Freeport-McMoRan — Shares of the mining company increased 6.6% after Freeport posted a profit for the first quarter, slightly topping Wall Street’s expectations. The company said the Trump administration’s tariffs could increase the cost of materials needed for its U.S. mines by about 5%. Texas Instruments — The semiconductor manufacturer popped 7.1% on a better-than-expected first-quarter financial report and upbeat guidance for the current quarter. Texas Instruments earned $1.28 per share on revenue at $4.07 billion, while analysts polled by LSEG called for $1.07 in earnings per share and $3.91 billion in revenue. PepsiCo — Shares of the snack and beverage company dipped 4% after a first-quarter report reflected lower-than-expected earnings and a weaker outlook. PepsiCo reported $1.48 in adjusted earnings per share, coming out just under the $1.49 per share LSEG consensus. The company also lowered its full-year projection for adjusted earnings on a constant currency basis, citing the effect of tariffs as one negative factor. American Airlines — The travel stock rose 2.7% after first-quarter results showed a smaller-than-expected loss. American reported an adjusted loss of 59 cents per share. Analysts surveyed by LSEG were anticipating a loss of 65 cents per share. The airline did withdraw its full-year guidance, but the stock has already dropped more than 40% year to date. ServiceNow — The enterprise technology stock rallied 15.5% after ServiceNow posted stronger-than-anticipated earnings for the first quarter. The company’s adjusted earnings of $4.04 per share and $3.09 billion in revenue beat LSEG consensus forecasts of $3.83 in earnings per share and $3.08 billion in revenue. Lam Research — Shares of Lam Research, which makes components for semiconductor manufacturing, jumped 6.3% after earnings for the company’s third fiscal quarter topped Wall Street’s projections. Lam Research earned an adjusted $1.04 per share on $4.72 billion in revenue, surpassing estimates of $1.01 in earnings share and $4.65 billion in revenue from analysts, per LSEG. Utz Brands — The snack maker added 1.9% after receiving an upgrade from D.A. Davidson to buy from neutral. D.A. Davison said Utz Brands has grown its market share despite salty snacks facing volume pressure. Procter & Gamble — The stock fell 4.4% after the consumer goods company reported a third-quarter revenue loss and cut its full-year core earnings per share and revenue guidance. Procter & Gamble will likely raise prices due to tariffs, CEO Jon Moeller told CNBC. International Business Machines — Shares dropped 7% even after IBM topped first-quarter earnings and revenue expectations, and reaffirmed its full-year guidance. However, CEO Arvind Krishna warned macroeconomic uncertainty in the near term could cause clients to take a “wait-and-see approach.” — CNBC’s Alex Harring, Jesse Pound, Michelle Fox, Sean Conlon and Sarah Min contributed reporting. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.



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