Here’s a look at some companies making waves in intraday trading today. Boeing’s stock saw a rise of about 5% after its second-quarter revenue marginally exceeded expectations. The revenue came in at $24.56 billion, surpassing the consensus estimate of $24.25 billion. However, the adjusted loss was 76 cents per share, which was worse than the anticipated loss of 30 cents per share.
Amkor Technology didn’t fare as well, with a drop of 24% in its stock following a less-than-optimistic outlook for the third quarter. The company projected sales between $1.95 billion and $2.05 billion, falling short of the FactSet expectation of around $2.1 billion.
On the other hand, it was a tough day for memory chip companies, which saw significant declines. The Round Hill Memory ETF (DRAM) was down over 8%. SanDisk fell sharply—down 13%—marking its third consecutive day of losses, while Micron Technology and Seagate dropped nearly 9% each.
In contrast, Iqvia experienced a 12% rise after reporting results that were better than anticipated for the second quarter. The company also raised its profit and sales outlook, with CEO Ari Bousbib noting “record net new bookings of over $3.1 billion.”
Corning’s stock decreased by 16% after the company’s revenue guidance for the current quarter disappointed analysts, despite its second-quarter sales surpassing expectations.
PayPal saw a 4% increase following a solid second quarter; adjusted earnings hit $1.38 per share, surpassing the LSEG estimate of $1.28 per share. Their sales reached $8.68 billion, outpacing the forecast of $8.47 billion.
Coca-Cola also had a notable day, with shares rising 5% after exceeding revenue expectations and raising its full-year outlook. The adjusted earnings per share were 97 cents, beating the analyst expectation of 93 cents.
Sherwin-Williams Company shares rose 8% after raising its full-year outlook, forecasting adjusted earnings to be between $11.80 and $12.20 per share, which was above the FactSet consensus of $11.76.
Royal Caribbean’s stock increased about 5% after reporting growth in both sales and earnings for the second quarter, delivering adjusted earnings of $4.21 per share on revenue of $4.83 billion, which outperformed analyst projections.
UPS saw its stock decline by 6%, despite reporting better-than-expected results for the second quarter. It posted adjusted earnings of $1.76 per share on revenue of $22.8 billion, topping the forecast of $1.66 per share.
In the software sector, the iShares Expanded Technology Software Sector ETF (IGV) gained more than 1%. Companies like Autodesk and Adobe each rose about 6%, while Salesforce experienced more than a 5% increase.
Travel-related stocks rose as oil prices saw a drop of 5%. Booking Holdings and Expedia both went up by 5%, while Carnival Cruise Line rose 4%. United Airlines and Delta Air Lines increased by 3% each.
However, Hilton Worldwide Holdings experienced a 2.7% decline as it reported weaker guidance for the current quarter, despite better-than-expected second-quarter profits. The guidance for third-quarter earnings was projected between $2.28 and $2.34 per share, below the consensus estimate of $2.43.
Johnson & Johnson’s stock nudged up by 1% after the company reached a $5.5 billion settlement for lawsuits related to its talc products allegedly causing ovarian cancer.
Cadence Design Systems enjoyed a 2% rise after reporting second-quarter adjusted earnings of $2.11 per share, beating the LSEG estimate of $2.05. Their sales hit $1.58 billion, aligning with expectations.
Finally, Rambus saw shares fall over 7% despite strong second-quarter results, as the memory interface chip maker reported adjusted earnings of 77 cents per share on revenue of $207 million.
