Here’s a look at companies making notable moves in intraday trading:
Comcast, the parent company of NBCUniversal, saw its stock drop almost 8%. This came after Deutsche Bank changed its rating from buy to hold, expressing concerns over sustainable earnings and cash flow growth. Charter Communications experienced a significant decline as well, falling 23% after revealing a loss of 120,000 internet subscribers compared to the previous quarter.
Eli Lilly’s stock declined by nearly 4% following the release of data showing a lukewarm start for its GLP-1 pill, leading to concerns about prescription rates. In response, shares of Novo Nordisk dipped over 5%. Yet, some analysts mentioned that Wegovy’s brand recognition might still help it gain traction in the market.
Organon saw a remarkable increase of 22% after news broke that Sun Pharma plans to make a $13 billion bid for the U.S.-based company. Meanwhile, on Wall Street, shares climbed more than 6% after JPMorgan started applying an overweight rating. However, Coursera’s stock plunged over 10% after reporting disappointing first-quarter outcomes, as indicated by FactSet.
Intel had a positive report, marking first-quarter earnings of $13.58 billion, which led to its stock rising more than 23%. The second-quarter revenue prediction stands at $12.42 billion with earnings per share expected at 1 cent. Procter & Gamble outperformed expectations in the third quarter, showing adjusted earnings per share of $21.24 billion. This surpassed analysts’ forecasts of $1.56.
Shares of Advanced Micro Devices rose nearly 13%, fueled by renewed investor faith in the AI sector following Intel’s results, alongside an upgrade from an analyst. Boyd’s earnings report showed an adjusted profit of $1.60 per share against expectations of $1.73, mainly because of weak sales in its Las Vegas operations. The company’s latest earnings, excluding certain items, came in at $1.72, with a strong financial outlook growth projected at 19% by 2026.
SLM, a student loan provider, saw its earnings per share rise to $1.54 from $1.40 last year, with full-year earnings predicted between $2.70 and $2.80 per share, beating the FactSet estimate of $2.78. In stark contrast, one company’s stocks soared 77% after first-quarter results exceeded expectations, reporting adjusted revenue of $137.2 million.
ServiceNow’s stock was up nearly 3% after a previous drop on Thursday, even though its quarterly results reflected a decline in subscription revenue due to geopolitical issues like the U.S.-Iran war. Many chipmakers enjoyed an uptick of over 14%, spurred by Intel’s performance, with memory stocks rising by about 18%. SanDisk gained nearly 7%, while Western Digital and Seagate Technology both saw slight increases of around 1%.
