Stocks making biggest moves midday: TSLA, IBM, WHR, MOH
Check out the companies making headlines in midday trading: Lilium — U.S.-listed shares fell more than 57% after the German air taxi startup said in a regulatory filing that its two main subsidiaries would file for insolvency , which is when debts cannot be repaid, in the next few days. Shares of Lilium, which is a penny stock, traded around the 25 cent mark Thursday afternoon. Tesla — The stock surged more than 20% following the electric vehicle maker’s third-quarter profit beat . CEO Elon Musk forecast that the company will see vehicle growth of 20% to 30% in 2025. Newmont — Shares plunged more than 14% on the back of the company’s weaker-than-expected third-quarter earnings. Newmont reported adjusted earnings of 81 cents per share on revenue of $4.61 billion for the period, while analysts polled by FactSet were expecting 86 cents per share on $4.67 billion in revenue. QuantumScape — The battery manufacturer jumped 23% due to the company’s third-quarter results matching expectations, per FactSet. For the quarter, the company posted a loss per share of 23 cents. It also said it has begun producing low volumes of its first B-sample cells. Molina Healthcare — Shares rallied 21% after the managed care company’s latest quarterly results, which beat estimates. Molina Healthcare posted adjusted earnings of $6.01 per share, better than the LSEG consensus estimate of $5.81 in earnings per share. Revenue of $10.34 billion exceeded the forecast $9.91 billion. Whirlpool — Shares popped about 14% after Whirlpool topped third-quarter expectations. The home appliance company posted adjusted earnings of $3.43 per share, more than the earnings of $3.19 per share expected by analysts polled by LSEG. West Pharmaceutical Services — Shares surged 17% after West Pharmaceutical Services reported a third-quarter beat. The maker of packaging components for injectables earned $1.85 per share, adjusted, in its latest quarter, better than the earnings per share of $1.50 anticipated by analysts, according to FactSet. Revenue of $746.9 million topped the consensus estimate of $709.6 million. CBRE Group — Shares jumped 9% and hit a 52-week high after the commercial real estate firm reported third-quarter adjusted earnings per share and revenue that topped expectations. CBRE also upped its full-year adjusted earnings guidance to $4.95 to $5.05 per share, up from $4.70 to $4.90 a share. Analysts polled by FactSet were anticipating full-year adjusted earnings per share of $4.82. Raymond James Financial — Shares rose 7% after the financial services firm posted fiscal fourth-quarter adjusted earnings of $2.95 per share. Analysts polled by FactSet had expected just $2.41 per share. The company’s $3.46 billion in revenue was also higher than the estimated $3.32 billion. Teradyne — The automation company plunged 9% despite posting a third-quarter non-GAAP earnings and revenue beat. Teradyne also provided fourth-quarter guidance that encompassed FactSet’s earnings and revenue estimates. Carrier Global — Shares fell 8%. The company reported adjusted earnings of 77 cents per share from its continuing operations. Carrier classified its Fire & Security segment as discontinued operations in the last quarter. Therefore, the company’s third-quarter revenue and guidance were not comparable with Wall Street’s estimates. Northrop Grumman — The defense company advanced 2% after reporting an earnings beat. Northrop Grumman posted $7 in earnings per share for the third quarter, beating the average analyst estimate of $6.07 per LSEG. On the other hand, revenue came in at $10 billion for the quarter, below forecasts calling for $10.18 billion. ServiceNow — The software company advanced more than 5%. ServiceNow posted third-quarter adjusted earnings of $3.72 per share, topping Wall Street’s estimate of $3.46 per share, according to LSEG. ServiceNow’s revenue of $2.80 billion also exceeded the $2.74 billion analysts had expected. Mattel — The toymaker jumped 4% after earnings per share exceeded expectations for the third quarter. Mattel reported adjusted earnings of $1.14 per share, surpassing the consensus forecast of 95 cents from analysts surveyed by LSEG. However, the company posted $1.84 billion in revenue for the quarter, slightly under the $1.86 billion figure anticipated by analysts. Boeing — The plane manufacturer slipped roughly 2% after Boeing machinists voted against a new labor contract , further extending a strike that has been going on for more than five weeks. International Business Machines — Shares tumbled about 7% after the tech giant posted third-quarter revenue that disappointed analysts’ expectations. Sales for IBM came out to $14.97 billion in the last quarter, versus the $15.07 billion analysts had expected, per FactSet. — CNBC’s Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim and Sarah Min contributed reporting.
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