Midday Market Movers: Key Players in the Spotlight
Several companies are drawing attention during midday trading with noteworthy movements in their stock prices. Here’s a look at some of the prominent players:
Verizon Communications
The telecommunications powerhouse Verizon saw its shares increase by 1% after reporting its highest quarterly growth in wireless subscribers in five years. This uptick is attributed to strong demand for its tailor-made offerings, like myPlan. The company announced earnings of $1.10 per share, aligning with LSEG’s average estimate.
Novo Nordisk
Shares of the Danish pharmaceutical firm, Novo Nordisk, surged over 8% following positive results from an early-stage trial of its obesity drug, amycretin. This promise has sparked investor enthusiasm.
Twilio
Cloud communications software company Twilio’s stock soared by 20%. The rise came after the company provided an optimistic long-term forecast at its recent investor event, projecting an adjusted operating margin to reach up to 22% by 2027. Baird has upgraded Twilio’s rating to outperform based on this confidence before the company’s fourth-quarter results.
Ericsson
In contrast, shares of Ericsson dropped 14% after falling short of earnings expectations for the fourth quarter. The telecommunications company reported an adjusted EBITA of 10.25 billion Swedish kronor, below the anticipated 10.69 billion kronor.
CSX
The railroad company CSX experienced a 3% decline in its stock price after revealing fourth-quarter revenue of $3.54 billion, which missed analyst forecasts of $3.58 billion. A year-over-year revenue drop was attributed to decreases in fuel surcharge and coal earnings.
Grindr
The dating app Grindr’s shares rose by 8% after announcing new guidance for 2024. The company anticipates yearly revenue between $343 million and $345 million, outpacing analysts’ expectations of $338 million.
Texas Instruments
Semiconductor manufacturer Texas Instruments saw a 7.5% dip as it issued weaker guidance, projecting earnings per share between 94 cents to $1.16, compared to the LSEG’s estimate of $1.17.
CF Industries
CF Industries’ shares tumbled by 7.5% after JPMorgan downgraded the stock from neutral to underweight. Analysts highlighted potential risks associated with rising domestic natural gas prices, a critical raw material for nitrogen fertilizers, suggesting earnings estimate cuts for 2025 and 2026.
Intuitive Surgical
Shares of Intuitive Surgical slipped 4% as the medical equipment maker forecasted its adjusted gross profit margin to be between 67% and 68% in 2025, a drop from the 69.1% anticipated for 2024.
NextEra Energy
NextEra Energy shares improved by 5% following a fourth-quarter adjusted earnings report of 53 cents per share, matching analyst consensus. The firm also provided full-year adjusted earnings that met Wall Street expectations.
American Express
American Express experienced a 1% decline after revealing a slower revenue growth forecast for 2025 compared to 2024. Nevertheless, the credit card giant reported fourth-quarter revenue that beat expectations, with earnings aligning with analysts’ predictions.
GE Vernova
GE Vernova’s shares decreased by 4% after Guggenheim downgraded the stock from buy to neutral. The analyst cited the stock’s strong recent performance alongside a slowdown in upward earnings revisions as the reasoning behind the downgrade.
These substantial fluctuations illustrate the dynamic nature of the market, influenced by company performance and investor sentiment.
