Stocks making the biggest moves midday: Gilead Sciences, Monster Beverage, Trade Desk, MP Materials, Sweetgreen and more
Check out the companies making headlines in midday trading: Trade Desk — Shares cratered 37% after a slew of Wall Street firms including Bank of America and MoffettNathanson downgraded the stock . While Trade Desk’s earnings were surprisingly strong, CEO Jeff Green warned revenue growth could slow in the third quarter. During the earnings call, he said “some of the world’s largest brands are absolutely facing pressure” from tariffs and inflation. Gen Digital — Strong demand for its cybersecurity tools boosted shares of Gen Digital by more than 9% on Friday. The company raised its annual revenue and profit forecast after posting fiscal first-quarter results that topped expectations. Natera — The genetic testing provider surged around 11% after second-quarter revenue topped the highest Wall Street estimate, according to FactSet. Natera raised its full-year gross margin and revenue forecasts to levels surpassing both prior guidance as well as consensus analyst estimates. Goodyear Tire & Rubber — The Ohio-based manufacturer tumbled about 18% after losing an adjusted 17 cents per share in the second quarter against a Wall Street consensus estimate of a profit of 2 cents, according to numbers compiled by FactSet. Goodyear said inflation, tariffs and other costs are set to grow by about $180 million in the third quarter, with a $350 million annualized rate of increase in finished goods and raw material costs, StreetAccount added. MP Materials — The rare earths materials company jumped 2% after reporting a narrower-than-expected second-quarter loss . MP Materials lost 13 cents per share, while analysts anticipated a loss of 19 cents, according to LSEG. Revenue of $57.4 million exceeded the $45.6 million consensus estimate. Live Nation Entertainment — The entertainment and ticketing company’s stock rose 2% on the back of an upbeat outlook. Second-quarter results were mixed, but Live Nation said the summer concert season is off to a strong start with robust attendance. Monster Beverage — Shares of the energy drink company climbed more than 6% after Monster Beverage topped second-quarter expectations. The company posted adjusted earnings of 51 cents per share on revenue of $2.11 billion. Analysts polled by FactSet anticipated earnings of 48 cents per share on revenue of $2.08 billion. Gilead Sciences — Shares gained nearly 9% after Gilead Sciences reported strong second-quarter results. Adjusted earnings of $2.01 per share topped the $1.96 LSEG consensus estimate. Revenue of $7.08 billion came in above the forecast $6.97 billion. Under Armour — The retail stock tumbled 22% after the American sportswear company posted first-quarter results that missed estimates. Under Armour reported adjusted earnings of 2 cents per share, lower than the FactSet consensus estimate of 3 cents. Revenue of $1.10 billion came in below the $1.13 billion expectation. Figs — Shares fell more than 6% despite the scrubs maker posting second-quarter earnings that bested analysts’ expectations. The company expects 2025 net revenue to rise at a low-single-digit pace. Sweetgreen — The salad chain sank 26% after its second-quarter results on the top and bottom lines missed analysts’ expectations. Sweetgreen also slashed its full-year revenue guidance to $700 million to $715 million. That is down from its prior guidance of $740 million to $760 million. Viavi Solutions — Shares jumped 7% following the network test and equipment manufacturer’s fiscal fourth-quarter financial results. Viavi topped analysts’ earnings and revenue expectations, according to FactSet, and guided for current-quarter earnings and revenue above forecasts. Yelp — Shares fell 6% after the restaurant review service narrowed its full-year revenue guidance to a range of $1.465 billion to $1.475 billion. The company previously called for revenue to land between $1.465 billion and $1.485 billion. The new outlook is also below the FactSet consensus estimate of $1.48 billion. LegalZoom.com — Shares of the legal solutions provider surged around 34% after Bank of America upgraded it to buy from underperform and raised its price target on the stock, suggesting it can jump another 43% from current levels. Expedia — The travel booking website’s stock climbed more than 3% after Expedia’s second-quarter earnings and revenue topped expectations. The company also raised full-year bookings and revenue guidance. Microchip Technology — Shares dropped 5% after the semiconductor manufacturer issued guidance that failed to impress Wall Street. Microchip called for fiscal second-quarter adjusted earnings of 30 cents to 36 cents per share, while FactSet consensus estimates sought 31 cents per share. Revenue is expected to range between $1.11 billion and $1.15 billion, versus analysts’ prediction of $1.13 billion. Pinterest — The visual media platform fell 8% after reporting 33 cents in adjusted earnings per share for the second quarter, missing the consensus estimate of 35 cents a share from analysts polled by LSEG. Revenue came in at $998 million, higher than the $975 million penciled in by Wall Street. Doximity — Shares rallied more than 11% after Doximity on Thursday said it is acquiring startup Pathway Medical for $63 million. The medical network platform also reported fiscal first-quarter results that topped estimates. Take-Two Interactive Software — The video game producer’s shares gave up earlier gains and were down about 4% despite the company posting better-than-expected results and raising its annual bookings forecast. Tripadvisor — Shares of the online travel company popped rose more than 14% after the company posted adjusted earnings of 46 cents per share, which topped FactSet consensus estimates. On the other hand, revenue of $529 million disappointed expectations. — CNBC’s Sarah Min, Scott Schnipper, Michelle Fox, Alex Harring and Tanaya Macheel contributed reporting.
