economy
Stocks making the biggest moves midday: Centene, Corning, Oracle, Vertiv, Coca-Cola, Spotify & more
Here are the stocks making headlines in midday trading.
TL;DR
- Oracle, Nvidia, AMD, and Arm Holdings fell amid concerns over AI spending sustainability after OpenAI missed targets.
- Vertiv, Coherent, Lumentum, and Corning also declined as part of the broader AI infrastructure sell-off.
- Centene shares jumped after raising its full-year earnings guidance.
- Erasca shares plummeted nearly 50% due to a patient death in a cancer drug trial.
- Alexandria Real Estate Equities dropped on wider-than-expected net operating loss guidance for 2026.
- General Motors trimmed its net income forecast but beat first-quarter earnings expectations.
- Coca-Cola's stock advanced following quarterly earnings and revenue that surpassed analyst expectations.
- United Parcel Service shares fell despite beating first-quarter earnings and revenue estimates.
- Spotify Technology declined after issuing weaker-than-expected operating income guidance for the second quarter.
- JetBlue Airways rose as it announced measures to manage higher fuel costs, despite a larger-than-expected first-quarter loss.
- Bed Bath & Beyond shares tumbled after posting a first-quarter adjusted loss that was slightly narrower than expected.
- Rambus plunged as its first-quarter operating margin decreased year-over-year.
- Sanmina advanced after issuing a strong third-quarter earnings outlook and authorizing a significant share buyback.
- Cadence Design Systems lowered its full-year adjusted earnings guidance but beat first-quarter estimates.
- Nucor gained on strong first-quarter earnings and revenue that exceeded analyst expectations.