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In today’s midday trading updates, there are several companies making headlines that you should keep an eye on. Spotify Technology saw a 12% surge in shares after surpassing second-quarter earnings expectations. Despite some softness in monthly active user counts, analysts are cautiously optimistic about the company’s strong margin performance and focus on premium subscribers.
Conversely, United Parcel Service (UPS) took a hit, with shares plunging over 12% and hitting a new 52-week low due to missing both top and bottom-line estimates in the second quarter. On the other hand, MSCI experienced a stock pop of over 9% after reporting earnings that exceeded Wall Street expectations.
Pentair, a water treatment company, saw its stock rise over 7% and is on pace for a record close after beating second-quarter expectations and raising guidance for the full year. NXP Semiconductors, however, faced a more than 9% drop in shares after missing earnings estimates for the quarter.
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