Stocks making the biggest moves midday: TPR, CPRI, DIS
Check out the companies making headlines in midday trading: Disney — The media stock popped 7% on stronger-than-expected earnings and guidance, aided by growth in its streaming business. The company said it expects high-single-digit adjusted earnings growth in fiscal 2025. Capri , Tapestry — Both luxury apparel stocks rose after the companies called off their planned merger , citing regulatory hurdles. Shares of Tapestry jumped nearly 13%, while Capri added 2.5%. Hims & Hers Health — The telehealth stock dropped 14% after Amazon revealed Prime users can now access fixed pricing of treatment for conditions such as men’s hair loss. The offering puts the company in direct competition with Hims & Hers Health. Super Micro Computer — The artificial intelligence server stock slumped more than 6% and headed for its fifth straight losing session. The company said this week that it delayed the filing of its report for the period that ended Sept. 30 . Shares are down 22% since the start of the week and 34% since the start of November. ASML Holding — Shares popped 5% after the Dutch semiconductor equipment maker maintained its 2030 targets at its 2024 Investor Day, driven by AI and other critical industry trends. Cisco Systems — The cybersecurity stock fell 1.9%. The company topped Wall Street’s quarterly estimates and raised its full-year guidance, but posted its fourth consecutive quarter of declining revenue. Revenue in the prior quarter fell 6% year over year. Charles Schwab — Shares of the brokerage firm gained 3.6%. Charles Schwab said total client assets hit $9.85 trillion in October, representing a 39% year-over-year increase. Norfolk Southern — Shares of the railroad operator fell 1% after reaching a settlement with activist Ancora to avoid a proxy fight. American Airlines — The airline stock rose more than 3% after Barclays upgraded shares to equal weight from underweight, citing an improving business travel setup and better credit card agreements. Campbell Soup — Shares gained more than 1% after Piper Sandler upgraded the consumer staples company to an overweight rating, citing a promising growth outlook due in part to its recent acquisition of sauce maker Rao’s. Ibotta — Shares of the digital rewards platform sank more than 16% on disappointing fourth-quarter guidance. Ibotta said it expects fourth-quarter revenue to range between $100 million and $106 million, versus a FactSet estimate of $110.3 million. CNH Industrial — Shares rose more than 6% after Greenlight Capital’s David Einhorn revealed at CNBC’s Delivering Alpha conference that he took a medium-sized position in the agricultural equipment company. Advance Auto Parts — The auto parts provider popped 6.3% after announcing plans to close more than 500 corporate stores and 200 independent locations. It also plans to shutter four distribution centers. — CNBC’s Jesse Pound, Pia Singh, Alex Harring, Hakyung Kim and Sean Conlon contributed reporting.
- Finance
