Stocks making the biggest moves midday: KSS, GM, LMT, MEDP
Check out the companies making headlines in midday trading: Opendoor Technologies , Kohl’s — The two stocks have been cited on Reddit’s WallStreetBets forum and have seen some wild moves as retail traders chase meme stocks . Opendoor, an online real estate startup, surged earlier in the day, but was recently down nearly 2%. Still, shares have gained more than 500% this month. The department store didn’t appear to have any major corporate announcements, but Kohl’s stock surged 37% . General Motors — Shares tumbled nearly 7% despite the automaker beating sales and profit expectations in the second quarter. Adjusted earnings before interest and taxes of $3.04 billion were higher than analysts estimated, but down more than 31% from a year ago. Lockheed Martin — The maker of the Air Force’s F-35 fighter bomber dropped 6% after quarterly revenue of $18.16 billion trailed analysts’ consensus estimate of $18.57 billion, according to LSEG. Earnings per share of $1.46 weren’t comparable to estimates. Lockheed also reported a $1.6 billion loss attributed to some defense programs, and management said the “ongoing program review process identified new developments that caused us to re-evaluate the financial position on a set of major legacy programs.” Medpace — The outsourced clinical development services provider soared 48% after second quarter net income and revenue topped analyst estimates and it raised full-year guidance. GAAP earnings of $3.10 per share exceeded the FactSet consensus estimate of $2.98, while revenue of $603.3 million beat an expected $538.8 million. IQVIA – The health-care technology and data analytics company saw shares surge 17%. IQVIA narrowed its guidance for full-year adjusted earnings, calling for $11.75 to $12.05 per share. That compares to its earlier call for $11.70 to $12.10 per share, and the FactSet consensus estimate of $11.83 a share. Second-quarter results also surpassed the Street’s estimates. Equifax – Shares of the consumer credit company slid nearly 7% on disappointing guidance for the current quarter. Equifax sees third-quarter adjusted earnings ranging from $1.87 to $1.97 per share, while FactSet consensus estimates sought $1.99 a share. The revenue outlook for the period came in at $1.51 billion to $1.54 billion, compared to the Street’s estimate for $1.53 billion. Steel Dynamics — Shares retreated nearly 3% after the steelmaker’s second quarter results trailed expectations, with $2.01 of earnings per share missing the Street’s $2.10 and revenue of $4.57 billion trailing the consensus for $4.76 billion. D.R. Horton — The homebuilder surged 14% after fiscal third-quarter results came in above expectations, with earnings of $3.36 per share exceeding the $2.89 anticipated by analysts surveyed by FactSet. Revenue of $9.23 billion topped the estimated $8.75 billion. PulteGroup — Shares popped 8% after the home construction company posted second-quarter earnings of $3.03 per share, topping analyst estimates of $2.96, per LSEG. PulteGroup’s $4.40 billion revenue also came in ahead of the expected $4.39 billion. Northrop Grumman — Shares jumped 8% after Northrop Grumman posted second-quarter revenue of $10.35 billion, topping the LSEG consensus estimate of $10.07 billion. Agilysys — Shares sank 9% after the hospitality software company’s first quarter EBITDA of $12.5 million lagged the FactSet consensus estimate of $14.0 million. NXP Semiconductors — The Dutch semiconductor maker dropped 2% after second quarter sales declined due to slow demand in the automotive market. Otherwise, NXP beat on the top and bottom lines, with adjusted earnings of $2.72 per share on revenue of $2.93 billion exceeding $2.67 on $2.90 billion expected by analysts polled by LSEG. Albertsons — The grocery chain rose nearly 3% after UBS upgraded Albertsons to a buy from neutral, and raised its 12-month price target to $27 per share, implying upside of 35%. Zions Bancorporation — Shares rose almost 3% after Zions posted second-quarter earnings of $1.63 per share, beating an LSEG consensus estimate of $1.31 per share. Zions’ CEO Harris Simmons said, “We’re incrementally more optimistic about growth in the back half of the year than we’d previously been.” — CNBC’s Sarah Min, Darla Mercado, Lisa Han, Alex Harring, Spencer Kimball, Yun Li and Tanaya Macheel contributed reporting
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