Stocks making the biggest moves midday: Urban Outfitters, Advance Auto Parts, Snowflake, Sunrun and more
Check out the companies making headlines in midday trading. Advance Auto Parts — Shares skyrocketed 57% following a better-than-expected report from the car part retailer. The company lost an adjusted 22 cents per share in the third quarter, narrower than the loss of 82 cents per share anticipated by analysts polled by LSEG. Revenue came in at $2.58 billion, ahead of Wall Street’s $2.50 billion forecast. Health insurance stocks — Shares fell after the Centers for Medicare & Medicaid Services announced an aggressive expansion of Medicare Advantage audits. Humana dropped more than 7%, while CVS Health lost 3%. UnitedHealth ticked just over 2% lower. Urban Outfitters — The retailer surged 23% on a stronger-than-expected earnings report for the first quarter. Urban earned $1.16 per share on revenue at $1.33 billion. Analysts surveyed by LSEG penciled in earnings per share of 84 cents and $1.29 billion in revenue. Snowflake — The data storage stock rallied 13.4% after first-quarter earnings surpassed Wall Street’s predictions. Snowflake earned 24 cents, excluding items, on $1.04 billion in revenue. Analysts anticipated 21 cents in earnings per share and $1.01 billion in revenue. Sunrun — The solar stock sank more than 37%, one of many in the sector to sell off after the House Republican tax bill appeared to be worse for green energy work than initially feared. SolarEdge and Enphase plunged more than 24% and 19%, respectively. Array Technologies and Nextracker each slid more than 3%, while First Solar both fell more than 4%. Analog Devices — The semiconductor manufacturer lost 4.6% despite beating expectations for the second fiscal quarter and offering upbeat guidance. Analog Devices earned $1.85 per share, excluding items, on $2.64 billion in revenue, while analysts polled by FactSet anticipated earnings of $1.70 per share and $2.51 billion in revenue. Pitney Bowes — Shares jumped 9.5% after the shipping firm announced that sitting director Kurt Wolf was appointed CEO. Wolf is succeeding Lance Rosenzweig, who is retiring from the chief executive role but will be a consultant to the company. Seagate Technology — The data storage company gained 4.2% after the firm announced a $5 billion share repurchase plan at its investor day. The buyback program will carry through the fiscal year ending in 2028, the company said. Williams-Sonoma — Shares of the high-end home furnishings retailer dropped 4.5% due to disappointing corporate guidance, which overshadowed quarterly figures that beat expectations. Dana — The vehicle product supplier popped 2.8% on the back of an upgrade by RBC to outperform from sector perform. RBC called the company’s fundamentals “misunderstood.” — CNBC’s Yun Li contributed reporting
