Stocks making the biggest moves midday: IBM, AMD, Dillard’s, Novo Nordisk, Keysight Technologies & more
Check out the companies making headlines in midday trading: Dillard’s — Shares fell 7% after the department store posted weaker-than-expected revenue in the holiday quarter. Fourth-quarter revenue came in at $1.99 billion, while analysts polled by FactSet anticipated $2.03 billion. Dillard’s cited winter storms as a driver behind its sales results, which it says hurt more than a third of its stores. Planet Fitness — Shares fell 8% after the fitness chain offered weak guidance. Planet Fitness said to expect between around 9% and 10% in full-year adjusted earnings per share growth, while analysts polled by FactSet anticipated a rate of 16.5%. The New Hampshire-based company said revenue growth should come in at 9%, while Wall Street anticipated 11.1%. Novo Nordisk — Shares of the obesity drugmaker fell 2% after it said it would slash monthly list prices for Wegovy and Ozempic by as much as 50%, starting in 2027. With the latest pullback, Novo Nordisk shares are down almost 24% year to date. IBM — Software stocks, including IBM are rebounding after a steep decline during Monday’s session. IBM closed down 13% on Monday as investors reacted to a perceived threat from Anthropic’s Claude Code tool. On Tuesday, IBM shares rose more than 2% as analysts defended the stock, saying it was developing its own AI-powered tools. Other stocks caught up in the narrative also recovered lost ground, with ServiceNow up almost 2%, and Docusign and Adobe adding more than 3%. Salesforce rose more than 4%. Henry Schein — The medical products supplier saw shares jump nearly 6%. Henry Schein gave upbeat guidance for the full year, calling for earnings of $5.23 to $5.37 per share, and revenue growth in a range of 3% to 5% year over year. Consensus estimates per FactSet sought earnings of $5.29 per share and revenue growth of 3.5%. Expeditors International of Washington — Shares of the freight company slid more than 8%. While the company narrowly beat expectations on the top and bottom lines in the fourth quarter, operating income of $250.9 million fell short of the FactSet consensus call for $255.5 million. Management also said that expenses were higher than they would have liked for the period, and that this was driven by “strategic headcount additions to address higher-growth opportunities.” Vir Biotechnology — Shares surged nearly 30% after the biotech company shared positive updated Phase 1 results for its VIR-5500 treatment for patients with metastatic prostate cancer. Advanced Micro Devices — The semiconductor maker rose about 10% after it inked a multiyear deal with Meta Platforms to lend up to 6 gigawatts of its graphics processing units to artificial intelligence data centers. The cost of the deal is unclear, but the companies’ agreement includes a performance-based warrant that could amount to up to 160 million of AMD shares, according to a statement dated Tuesday. Ultra Clean Holdings — Shares rose more than 14% after fourth-quarter revenue topped estimates, according to analysts surveyed by FactSet. Ultra Clean’s forecast also outpaced the midpoint of analysts forecasts. The company expects to earn 18 cents to 34 cents per share after adjustments in the first quarter. Revenue is expected to be between $505 million to $545 million. Keysight Technologies — The American provider of electronic design, emulation and test solutions rallied 22% after posting first quarter earnings and revenue that surpassed expectations. Keysight reported earnings of $2.17 per share, on an adjusted basis, on revenues of $1.60 billion. Analysts surveyed by FactSet had expected per-share earnings of $2.00 on revenues of $1.54 billion. ONEOK — The Tulsa, Oklahoma-based oil and gas midstream operator fell about 6% after posting weaker-than-expected guidance for the full year ending December. ONEOK forecasts per-share earnings of $5.45, lower than the FactSet consensus estimate of $5.80 per share. Home Depot — The home improvement retailer gained nearly 3% after posting fourth-quarter adjusted earnings of $2.72 per share on revenue of $38.20 billion. That exceeded the per-share earnings of $2.54 on revenues of $38.12 billion expected by analysts polled by LSEG. — CNBC’s Michelle Fox, Davis Giangiulio, Liz Napolitano, Alex Harring and Darla Mercado contributed reporting
