economy
Stocks making the biggest moves midday: Five Below, Broadcom, Blackstone, UnitedHealth & more
Here are the companies making headlines in midday trading.
TL;DR
- Alnylam Pharmaceuticals shares rose 4% on a $2 billion AI collaboration with Inceptive Nucleics.
- Blackstone stock jumped 8% despite news of withdrawal limits on its Private Credit fund.
- Broadcom shares fell nearly 15% after reporting fiscal second-quarter revenue below expectations.
- AI semiconductor stocks, including Micron, Intel, AMD, and Arm Holdings, slid following Broadcom's results.
- Five Below shares dropped 13% despite providing a better-than-expected outlook.
- Petco shares declined roughly 8% as its current-quarter forecast fell short of expectations.
- CrowdStrike lost 6% on lackluster second-quarter guidance, with Palo Alto Networks trading lower in sympathy.
- PVH shares plunged 20% after reiterating full-year earnings guidance despite a first-quarter earnings beat.
- UnitedHealth shares climbed 5% following an upgrade to buy from Bank of America.
- Medtronic advanced 4% after BTIG upgraded shares to buy from neutral.