MCD, SAVE, BA, T and more
Check out the companies making headlines in midday trading: McDonald’s — The fast-food stock pulled back more than 5% after the U.S. Centers for Disease Control and Prevention said an E. coli outbreak was tied to the chain’s Quarter Pounder burgers . The outbreak led to 10 hospitalizations and one death, the CDC said. Walmart — The retail stock advanced almost 1% to reach a fresh all-time high on Wednesday, breaking with the broader market’s trend lower. Shares of Walmart have outpaced the S & P 500 in 2024, up 57% compared to the index’s nearly 22% jump. Boeing — The troubled aerospace stock slipped nearly 3% after reporting its largest quarterly loss since 2020 . Boeing reported a loss of more than $6 billion in the third quarter, and it lost more than $4 billion in its commercial airplane sector alone. Qualcomm , Arm Holdings — Qualcomm declined nearly 3% after Bloomberg reported that British chip designer Arm planned to cancel its license agreement with the company. Shares of Arm were 6% lower. Stride — The stock soared more than 33%. The educational tech company posted fiscal first-quarter net income of $40.9 million and revenue of $551.1 million. In the year-earlier period, the company reported net income of $4.9 million and revenue of $480.2 million. Hilton Worldwide Holdings — The hotel giant lost 2.7% after reporting third-quarter revenue of $2.87 billion, under the $2.91 billion figure expected from analysts polled by LSEG. On the other hand, Hilton posted adjusted earnings of $1.92 per share, which was 7 cents above the consensus forecast. But the company also issued weak guidance for current-quarter adjusted earnings. Spirit Airlines — Shares surged 35% after The Wall Street Journal , citing people familiar, reported Frontier Airlines is seeking to renew a bid for Spirit Airlines. Enphase Energy — The green energy stock tumbled 13% after a weaker-than-expected earnings report. Enphase said it had 65 cents in adjusted earnings per share on $380.9 million of revenue. Analysts surveyed by LSEG had penciled in 77 cents per share and $392 million of revenue. Enphase’s fourth-quarter revenue guidance was also below expectations. AT & T — Shares advanced 4% after third-quarter earnings surpassed analysts’ estimates. AT & T reported adjusted earnings of 60 cents per share, while analysts polled by LSEG were looking for 57 cents. Revenue missed Wall Street’s forecast. Texas Instruments — The semiconductor company gained more than 3% after beating analysts’ estimates on the top and bottom lines in the third quarter. Texas Instruments reported $1.47 per share and revenue of $4.15 billion, while analysts surveyed by LSEG forecast $1.38 per share and $4.12 billion in revenue. Coca-Cola — Shares fell 2% after the company said it expects currency headwinds to hurt its results next year . Still, Coca-Cola beat analysts’ estimates on the top and bottom lines for the third quarter. Seagate Technology — Shares were about 8% lower in midday trading. The data storage company issued revenue guidance for the fiscal second quarter that was about in line with the Street’s expectations. Expected earnings in the current quarter of $1.85 per share surpassed the estimated $1.72 per share from analysts polled by LSEG. Winnebago Industries — The recreational vehicle stock tumbled nearly 9%. Fiscal fourth-quarter adjusted earnings of 28 cents per share missed the 89 cents per share forecast by analysts polled by FactSet. — CNBC’s Sarah Min, Lisa Han, Alex Harring, Sean Conlon and Jesse Pound contributed reporting.
- Finance
