Stocks making the biggest moves midday: Estée Lauder, Yum China, Paycom Software and more
Check out the companies making headlines in midday trading. Advanced Micro Devices — The stock added 9.7% after the chipmaker beat analysts’ expectations for its third-quarter earnings . The company also offered positive 2024 guidance for artificial intelligence GPU revenue. Generac — The generator builder popped 14.5% after topping Wall Street’s third-quarter estimates. Generac reported earnings per share of $1.64 on revenue of $1.07 billion. Analysts polled by LSEG, formerly known as Refinitiv, expected a profit of $1.51 per share on revenue of $1.04 billion. Estée Lauder — The cosmetics company plunged 18.9% after reporting disappointing quarterly earnings. Estée Lauder also lowered its full-year earnings per share guidance to a range between $2.17 and $2.42, versus its previous guidance of $3.50 per share to $3.75 per share. CVS — The pharmacy chain stock shed 0.4% in midday trading after CVS’ medical benefit costs came in 1% higher than estimates, despite the company beating both expected third-quarter earnings and revenue. Humana — Shares declined 6.6% after the insurance company lowered its full-year guidance for earnings per share. Third-quarter earnings per share came in above consensus, however. Match Group — The dating services company plummeted 15.4% after issuing guidance for its fourth-quarter revenue that was weaker than analysts expected. Yum China — The fast-food restaurant conglomerate dipped 15.2% after its third-quarter revenue came in at $2.91 billion, under the $3.06 billion expected by analysts polled by LSEG. DuPont de Nemours — Shares of the chemical company shed 8.2%. DuPont’s third-quarter revenue came in at $3.06 billion, lower than the $3.15 billion expected by analysts polled by LSEG. Garmin — The technology company added 10.7% after its third-quarter revenue came in at $1.28 billion, versus the $1.21 billion expected by analysts polled by FactSet. The company also raised its full-year revenue guidance to $5.15 billion, versus its prior estimate of $5.05 billion. Paycom Software — Shares of the HR and payroll company dropped 38.5% after Paycom’s third-quarter revenue came in light of expectations. The company’s fourth-quarter revenue guidance was also less than estimated. Trimble — The technology and software stock shed 13% after Trimble’s third-quarter revenue came in below estimates. Additionally, the company lowered its full-year guidance for both revenue and earnings per share and announced that Chief Financial Officer David Barnes is set to retire from the company next May. Ford — The automaker stock rose 1.6% after receiving an upgrade to overweight from Barclays along with competitor General Motors. Barclays said both stocks are trading at historically low valuations. — CNBC’s Jesse Pound and Samantha Subin contributed reporting. This post has been syndicated from a third-party source. View the original article here.
