[ad_1]
Check out the companies making headlines in midday trading: Ryanair — Shares fell 16% after the budget airline reported weaker-than-expected fiscal first-quarter earnings . The company said its quarterly profit after tax had fallen 46% and that it expects fares to be lower than expected in the summer months. CrowdStrike — The cybersecurity stock plunged 12% as investors fully digested Friday’s massive outage , which resulted in thousands of canceled flights. Guggenheim downgraded shares of CrowdStrike to a neutral rating from buy on Sunday, citing likely delays to new deals for the company at least in the short term. IQVIA Holdings — The stock jumped more than 6% after the health tech company’s earnings beat expectations for the second quarter. The company posted adjusted earnings of $2.64 per share on revenue of $3.81 billion. Analysts polled by FactSet were expecting $2.56 per share on revenue of $3.79 billion. Nvidia — Shares advanced 4%. On Monday, Reuters, citing people familiar with the matter, reported that the company is working on a version of its Blackwell chips for the Chinese market. The report added that the new version would be compatible with current U.S. export controls. Verizon — Shares dropped 6% after the telecommunications company posted weaker-than-expected quarterly revenue. In the second quarter, the company reported sales of $32.8 billion, below the $33.05 billion FactSet consensus estimate. Adjusted earnings of $1.15 per share came in line with forecasts. Tesla — The electric vehicle maker’s stock popped more than 4% ahead of the company’s earnings results on Tuesday. On Monday, CEO Elon Musk said humanoid robots will be in production within the company next year. Chinese EV stocks — Shares of Chinese EV companies surged after the People’s Bank of China said it is cutting the seven-day reverse repo rate to 1.7% from 1.8% . The one-year loan prime rate was also lowered to 3.35%, and the five-year LPR was reduced to 3.85%. Following the news, Xpeng moved 6.8% higher, while Nio and Li Auto gained more than 4% each. Mattel — Shares of the toymaker soared more than 11%. Reuters, citing people familiar with the matter, reported that private equity firm L Catterton has approached Mattel with an acquisition offer. The sources emphasized that there is no certainty that the firm’s approach will push Mattel into exploring a sale. Semiconductor stocks — Investors snapped up shares of chipmakers, which suffered a sharp sell-off last week. The VanEck Semiconductor ETF (SMH) jumped 3%, attempting a comeback from a 9.6% decline last week. On Semiconductor added 5%, while KLA Corporation advanced 4.8%. ASML Holding jumped more than 4%. — CNBC’s Alex Harring, Hakyung Kim, Lisa Kailai Han and Darla Mercado contributed reporting.
[ad_2]
Source link
