Stocks making the biggest moves midday: Webtoon Entertainment, Steel Dynamics, Hims & Hers and more
Check out the companies making the biggest moves midday: Webtoon Entertainment — Shares rallied 31% after the company reached a deal to create a digital comic platform for Disney. Webtoon also agreed to sell a 2% equity stake to the media giant. Emerson Electric — The engineering company fell 4.5%. Its management told a JPMorgan conference that fourth-quarter orders are likely to come in at the end of its guidance range, citing weakness in Europe and China. Hims & Hers Health — The telehealth name dipped about 7% after it received a warning letter from the U.S. Food and Drug Administration, which said the company’s claims on its website regarding compounded semaglutide products are “false or misleading.” SolarEdge Technologies — The solar storage stock climbed 5.7%. While a driver for the move wasn’t clear, Tuesday’s gain put the stock up more than 11% for the week. Steel Dynamics — The metals company gained more than 5% on better-than-expected third-quarter guidance. Steel Dynamics expects earnings per share between $2.60 and $2.64, above a FactSet consensus of $2.58 per share. Dave & Buster’s Entertainment — The entertainment company’s second-quarter earnings fell short of expectations, sending shares tumbling 16%. Adjusted earnings came in at 40 cents per share, missing the 91 cents expected from analysts polled by FactSet. Revenue was $557.4 million, versus the $562.8 million consensus estimate. Novo Nordisk — Shares rose 3% after Novo Nordisk said its experimental once-weekly weight-loss drug Cagrilintide monotherapy injection helped patients reduce their weight by 11.8% after 68 weeks. Adtran — Shares dropped more than 11% after the fiber networking and telecommunications company announced a $150 million convertible senior notes offering. Rocket Lab — The rocket company saw shares slip 10% after the firm announced plans to sell up to $500 million worth of common stock. Oscar Health — Oscar Health said it priced an upsized $355 million in convertible senior subordinated notes in a private offering, sending shares down 4%. Denny’s — The American diner company rose as much as 4.2% after investor JCP Investment Management and Jumana Capital filed an initial 9.4% stake to engage in discussions with Denny’s management. However, shares were last down 4.5% on the day. — CNBC’s Sean Conlon, Michelle Fox, Sarah Min, Lisa Han, Alex Harring, Yun Li and Pia Singh contributed reporting.
