economy
Stocks making the biggest moves midday: Jabil, AppLovin, Apollo, SpaceX, Upwork & more
Here are some of the companies making headlines in midday trading.
TL;DR
- Asset managers, including Blackstone and KKR, surged following news of Nvidia's partnership to finance AI data centers.
- Jabil jumped 5% after an upgrade to buy from UBS, citing a multiyear growth cycle from AI investment.
- AppLovin lost 5% after Bank of America downgraded shares to neutral, citing increased risks to revenue growth.
- Aramark climbed 9% as fiscal third-quarter revenue and earnings surpassed estimates, and the company raised its full-year forecast.
- Under Armour shares dropped 8% after Barclays downgraded the stock to underweight, citing market share loss and competition.
- Aecom shed nearly 7% on its third quarter report, which showed a decline in revenue and an adjusted loss.
- SpaceX dropped nearly 5%, about to snap a three-day winning streak.
- Life360 plunged 25% despite beating adjusted EBITDA estimates, attributed to a one-time tariff benefit.
- Upwork slumped 13% as its third-quarter guidance trailed analyst estimates.
- Fermi jumped 22% after signing a significant customer lease for its Project Matador campus.
- Hims & Hers Health fell 4% after trimming its full-year EBITDA outlook and posting a net loss.
- Plug Power rallied 13% after reporting a smaller-than-expected loss for the second quarter.
- On Holding dropped 20% on mixed second-quarter results and reduced full-year revenue guidance.