Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making big moves in the stock market. Today, we dive into the midday movers that are grabbing investors’ attention.
Kenvue, the maker of Band-Aid bandages, saw a 14% rally after beating analysts’ estimates for its second quarter. The company, which was spun off from Johnson & Johnson, posted strong adjusted earnings of 32 cents per share, surpassing the 28 cents expected by analysts. Revenue also exceeded expectations, coming in at $4 billion compared to the consensus estimate of $3.93 billion.
Palantir Technologies shares surged 13% after raising its full-year revenue forecast. The defense tech company now anticipates revenue between $2.742 billion and $2.750 billion, up from its previous guidance. Caterpillar, the industrial giant, jumped 3% following a stronger-than-expected quarterly report. Lumen Technologies, the telecommunications stock, soared 77% after securing $5 billion in new business driven by AI-fueled demand for connectivity.
Molson Coors Beverage, Uber Technologies, Planet Fitness, Yum China, and BioMarin Pharmaceutical all saw positive movement following their quarterly earnings reports. However, ZoomInfo Technologies experienced an 18% decline after missing expectations in its report. CSX, Lucid Group, and CrowdStrike also made notable moves in the market.
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