economy
Stocks making the biggest moves midday: Akamai, Fluence, Cloudflare, Micron Technology, Upwork & more
Here are some of the stocks making headlines in midday trading.
TL;DR
- Fluence Energy soared nearly 30% after upgrades from HSBC and Roth Capital following strong fiscal second-quarter earnings.
- Corpay jumped 10% after raising its full-year guidance, with first-quarter adjusted profit and revenue surpassing estimates.
- Chip stocks, including the VanEck Semiconductor ETF, reached a new 52-week high, with Micron Technology, Qualcomm, and Advanced Micro Devices seeing significant gains.
- MercadoLibre shares tumbled about 12% as first-quarter earnings and operating margin fell short of analysts' estimates.
- AppLovin dropped 5% after an earlier earnings-fueled jump, as investors reacted to its performance and guidance.
- Mettler-Toledo slid 13% on disappointing guidance for both adjusted earnings and revenue growth in the second quarter.
- Motorola Solutions fell 11% after its second-quarter adjusted earnings guidance failed to impress Wall Street.
- Akamai Technologies surged 20% on a $1.8 billion commitment for its Cloud Infrastructure Services and a first-quarter earnings beat.
- CoreWeave slid 13% as its second-quarter revenue guidance disappointed analysts.
- IREN Limited jumped almost 4% following an agreement with Nvidia to deploy AI infrastructure and an investment from Nvidia.
- Gen Digital popped 10% after its current-quarter and full-year revenue guidance exceeded expectations.
- Upwork shares tumbled 21% after announcing a 24% workforce reduction and slightly lower-than-expected first-quarter results.
- Trade Desk fell 6% after reporting current-quarter revenue guidance below analyst expectations and missing first-quarter adjusted earnings.
- Expedia shed 6% after issuing second-quarter revenue guidance that was largely in line with analyst expectations.
- Bill Holdings rose 7% on strong fiscal third-quarter earnings and revenue, and announced a workforce reduction.
- Texas Roadhouse popped 15% after reporting first-quarter earnings that exceeded estimates and showing strong same-store sales growth.
- Toast slid 14% as its second-quarter adjusted EBITDA guidance fell short of the consensus estimate.
- Rocket Lab gained 27% after beating first-quarter revenue estimates, growing its order backlog, and announcing a significant contract.
- Block climbed 7% after its second-quarter and full-year adjusted earnings guidance surpassed estimates.
- Monster Beverage gained 15% after posting first-quarter adjusted earnings and revenue that beat analyst expectations.
- Figs tanked 27% after posting first-quarter earnings that narrowly beat analyst estimates.
- Cloudflare plunged 23% after announcing plans to reduce its headcount by approximately 1,100.
- Synaptics jumped 20% after reporting third-quarter adjusted earnings and revenue that beat analyst expectations.
- JFrog popped 23% after its full-year earnings forecast and second-quarter guidance surpassed estimates.
- SoundHound AI slid 11% after reporting a wider-than-anticipated first-quarter adjusted loss before interest, taxes, depreciation, and amortization.