Check out the companies making headlines in midday trading: JetBlue — The airline soared more than 12% after reporting second-quarter earnings that beat analysts’ expectations . The New York City-based carrier posted adjusted earnings of 8 cents per share, excluding one-time items, compared to analysts’ estimated loss of 11 cents per share, according to LSEG. Revenue came in at $2.43 billion, also above the analyst estimate of $2.4 billion. Sprouts Farmers Market — Shares surged more than 13%, hitting a new 52-week high during the session, after the food retailer’s latest earnings of 94 cents per share on revenue of $1.89 billion topped analysts’ consensus estimates of 78 cents in earnings per share on $1.84 billion in revenue, according to LSEG. The Phoenix-based grocery chain also raised its full-year earnings guidance, forecasting revenue rising between 9% and 10%, compared to analysts’ 8.2% consensus growth estimate. Varonis Systems — The data security stock rallied more than 14% after posting better-than-expected second-quarter results. Varonis reported adjusted earnings of 5 cents per share, better than an expected loss of 2 cents per share, according to analysts polled by FactSet. Revenue also came in above expectations at $130.3 million compared to a $124.8 million consensus estimate. Varonis also issued stronger-than-expected guidance for the current quarter. F5 Inc. — Shares rallied about 13%, hitting a new 52-week high in the session, after the software company’s earnings and revenue topped estimates in its fiscal third quarter. F5 posted adjusted earnings of $3.36 per share, compared to an LSEG estimate of $2.97 per share. Revenue of $695 million was higher than the $686 million analysts has estimated. Symbotic — The stock declined more than 23.5%, hitting a new 52-week low in the session, after the automation company issued weak guidance for the fiscal fourth quarter. The company expects revenue in the range of $455 million to $475 million, below the consensus estimate of $516.9 million, according to FactSet. For the fiscal third quarter, Symbotic revenue of $491.9 million beat the consensus estimate of $464.6 million. Woodward — The aerospace and industrial stock slid more than 17% after revenue came in weaker than Wall Street had expected in its fiscal third quarter. Woodward reported $847.7 million in revenue, below the FactSet consensus estimate of $853.3 million. Amkor Technology — The semiconductor packaging stock tumbled nearly 19% after giving a disappointing third-quarter outlook. Amkor expects earnings per share of 42 cents to 56 cents, while analysts polled by FactSet had forecast 64 cents per share. Lattice Semiconductor — Shares pulled back more than 9% after second-quarter earnings and current-quarter revenue guidance came in below expectations. Lattice earned 23 cents per share, excluding items, on $124 million in revenue during the second quarter, while analysts polled by LSEG anticipated 24 cents and $130 million, respectively. Elsewhere, Bank of America downgraded Lattice to underperform from neutral, citing softer prospects for growth and minimal visibility. CrowdStrike — Shares sank more than 9% after CNBC reported that Delta Air Lines hired legal counsel to seek compensation for the CrowdStrike and Microsoft network outage that led to thousands of flight cancellations earlier this month. Microsoft shares were last down 1%. Merck — The stock slumped more than 9% after the New Jersey-based drugmaker’s full-year guidance came in weaker than expected. Merck expects full-year earnings of between $7.94 and $8.04 per share, below the FactSet consensus estimate of $8.16 per share. Howmet Aerospace — The aerospace manufacturer rallied more than 13% after second-quarter earnings and revenue beat Wall Street estimates. Howmet earned 67 cents per share on revenue of $1.88 billion, above estimates of 60 cents in earnings per share on revenue of $1.83 billion that analysts polled by FactSet had expected. Howmet also increased its quarterly dividend to 8 cents per share from 5 cents, payable Aug. 26. Corning — The glass and fiber optic cable maker plummeted nearly 7% after the company gave third-quarter guidance that either lagged or matched analysts’ expectations, according to FactSet. Second-quarter earnings came in slightly above expectations. Corning, which makes the Gorilla Glass used for iPhones, posted earnings of 47 cents per share on revenue of $3.6 billion. Analysts surveyed by LSEG expected 46 cents per share on $3.55 billion in revenue. PayPal — Shares spiked more than 8%. The payments company reported second-quarter adjusted earnings of $1.19 per share, excluding items, above the 99 cents per share expected by analysts polled by LSEG. The company also raised its full-year earnings guidance. Procter & Gamble — The Ivory soap maker fell nearly 5% following the Cincinnati-based company’s weaker-than-expected revenue in the second quarter. P & G posted revenue of $20.53 billion, below the $20.74 billion expected by LSEG analysts. Earnings came in above expectations, however, with the company posting adjusted earnings of $1.40 per share compared to the $1.37 per share that analysts polled by LSEG were expecting. Zebra Technologies — The stock rose nearly 4% after second-quarter earnings beat analysts’ estimates. The tracker and computer printing technology manufacturer posted profit of $3.18 per share, excluding items, on revenue of $1.22 billion. According to StreetAccount, analysts were expecting $2.80 per share on $1.18 billion in revenue for the period. Zebra also raised its full-year guidance. Stanley Black & Decker — The toolmaker popped around 10% after second-quarter earnings of $1.09 per share, excluding items, topped Wall Street estimates of 84 cents per share, according to analysts surveyed by FactSet. Revenue for the period matched estimates. The Connecticut-based company also updated its full-year earnings guidance to between $3.70 and $4.50 per share, raising the lower-end forecast from a previous range of $3.50 to $4.50 per share. — CNBC’s Alex Harring, Samantha Subin, Lisa Kailai Han and Hakyung Kim contributed reporting.
Check out the companies making the biggest moves midday: Taiwan Semiconductor — Shares surged 12% after the company, which is the world’s largest producer of advanced chips, reported a 54% gain in net profit for the third quarter driven by strong AI-related demand. Shares of chip giants Nvidia and Micron each rose about 3% in sympathy following the quarterly results. Nvidia — The AI-darling was up nearly 3% after hitting a record high earlier in the trading session. Taiwan Semiconductor, which is rallying on its earnings report, is a major Nvidia supplier. Expedia , Uber — Shares of the companies moved in opposite directions following a Financial Times report, which cited people familiar with the process, that Uber explored a potential takeover bid for Expedia. The paper said Uber’s interest in the online travel company was at a “very early stage.” Following the report, Expedia rose more than 3%, while Uber fell more than 2%. Elevance Health — The health insurer dropped 12% after reporting a profit of $8.37 per share for the third quarter, excluding items, while analysts polled by LSEG anticipated $9.66 a share. The company cited “unprecedented challenges” in the Medicaid business. However, Elevance saw $44.72 billion in revenue, above the consensus forecast of $43.37 billion. Travelers — Shares jumped 7.6% after the insurance company posted a big earnings beat before the bell. Travelers’ third-quarter earnings came in at $5.24 per share, topping the $3.55 a share expected from analysts polled by LSEG. However, revenue missed estimates. Lucid Group — The electric vehicle maker tumbled 15% after the company announced a public offering of almost 262.5 million shares of its common stock to raise $1.67 billion. Blackstone — The stock rallied nearly 7% on the back of the alternative asset managers’ financial report. Blackstone reported third-quarter earnings of $1.01 per share on revenue of $2.43 billion. Analysts polled by LSEG had expected EPS of 92 cents on revenue of $2.41 billion. CSX — Shares slipped 5.9% after the transportation company reported disappointing third-quarter results. CSX’s earnings were 46 cents per share on revenue of $3.62 billion. That’s below the consensus estimate of 48 cents per share and $3.67 billion in revenue, per LSEG. Nokia — U.S.-listed shares of the Finnish telecommunications giant fell 3% after the company posted an 8% dip in third quarter sales due to a slowdown in the Indian market. However, its quarterly profit increased 22%. Alcoa — The aluminum producer’s stock shed more than 3% after the company reported third-quarter revenue of $2.90 billion, below the $2.97 billion LSEG consensus estimate. However, its adjusted earnings of 57 cents per share topped the 28 cents a share expected from analysts. Equifax — Shares fell 2.6% after the company’s guidance fell short of expectations. Equifax expects fourth-quarter adjusted earnings per share between $2.08 and $2.18, versus the $2.20 a share estimate from analysts polled by FactSet. The company guided for full-year adjusted EPS between $7.25 and $7.35, short of the $7.36 consensus estimate. Revenue for both the fourth quarter and full year also came in below expectations. Steel Dynamics — The stock gained nearly 5% after the steel producer beat earnings and revenue expectations for the third quarter. For the period, Steel Dynamics posted earnings of $2.05 per share on $4.34 billion in revenue, above the $1.97 per share on $4.18 in revenue that analysts were expecting, according to LSEG. Looking toward 2025, the company said it expects steel pricing to recover. Synovus Financial — Shares popped 5% after the company reported better-than-expected adjusted earnings per share for the third quarter. Synovus also guided for fourth-quarter adjusted revenue of $560 million to $575 million, above the $558 million expected from analysts polled by FactSet. Walgreens Boots Alliance — The stock dropped about 5%, paring some of the 15.8% it gained in the prior session and now on pace for its worst day since Aug 27. On Wednesday, Walgreens reported a fourth-quarter earnings beat and said it plans to close about 1,200 stores over the next three years. — CNBC’s Sean Conlon, Hakyung Kim, Alex Harring and Pia Singh contributed reporting.
Check out the companies making headlines before the bell. Elevance Health – Shares plummeted more than 10% after the health insurer reported weaker-than-expected third-quarter earnings. In a statement , CEO Gail Boudreaux said the company remains “confident” amid “unprecedented challenges in the Medicaid business.” Health care stocks Molina Healthcare and Centene also fell nearly 9% and more than 7%, respectively. Taiwan Semiconductor – The stock surged more than 8% after the company reported a 54% gain in net profit for the third quarter. Shares of chip giant Nvidia – one of TSMC’s clients – rose more than 3% in sympathy following the quarterly results. Expedia – Shares jumped nearly 5% after The Financial Times reported, citing people familiar with the process, that Uber explored a potential takeover bid for the online travel company. According to Financial Times sources, Uber’s interest in Expedia was at an “early stage.” Uber shares fell more than 2%. Lucid Group – The stock tumbled 18% after the electric vehicle maker announced a public offering of nearly 262.5 million shares of its common stock. Lucid also said its majority stockholder, Saudi Arabia’s Public Investment Fund affiliate Ayar Third Investment, will purchase more than 374.7 million shares of its common stock. Nokia – Shares slid more than 5% after the company reported an 8% dip in sales for the third quarter, citing a slowdown in the Indian market. Nokia’s profit for the period, however, increased 22%. Looking ahead, CEO Pekka Lundmark said in a statement that he expects full-year profit to come in “within the bottom-half” of its guidance range. CSX – The transportation stock fell more than 4% following the company’s weaker-than-expected quarterly results. For the third quarter, CSX posted earnings of 46 cents per share on revenue of $3.62 billion. That’s below the 48 cents per share and $3.67 billion in revenue that analysts were expecting, per LSEG. Alcoa – Shares rallied nearly 7% following the aluminum producer’s earnings beat. Alcoa reported third-quarter adjusted earnings of 57 cents per share, versus the 28 cents a share expected from analysts polled by LSEG. However, revenue came in at $2.90 billion, below the $2.97 billion consensus estimate. Kinder Morgan – The energy infrastructure stock slipped 2.1% after third-quarter earnings missed analyst expectations. Kinder Morgan posted adjusted earnings per share of 25 cents on $3.70 billion in revenue. Analysts polled by LSEG had forecasted 27 cents a share and $3.98 billion, respectively. — CNBC’s Alex Harring and Michelle Fox Theobald contributed reporting.
In this photo illustration, the Robinhood Markets, Inc. logo is displayed on a smartphone screen.
Rafael Henrique | Sopa Images | Lightrocket | Getty Images
Retail brokerage firm Robinhood is launching a new tool for more sophisticated traders as it looks for additional avenues for growth.
On Wednesday, the firm introduced Robinhood Legend, a desktop-based platform for active traders. The offering includes advanced charting tools for users who want to do detailed analysis of stocks.
“In looking at the landscape of trading tools and by talking with active traders, we realized there is frustration with legacy offerings,” Steve Quirk, chief brokerage officer at Robinhood, said in a press release.
“Specifically, moving back and forth between apps or charting platforms can be cumbersome and time consuming. So we set out to reimagine what a modern, intuitively designed active trading platform should look like, and built Robinhood Legend from the ground up so traders can do what they need in one place,” Quirk said.
Beyond the launch of Legend, Robinhood also said it will soon add futures trading and index options to its mobile platform. Customers must be granted approval to trade futures contracts, according to the press release, and futures and index options will eventually be added to Legend as well.
The new additions for Robinhood are another example of the firm looking to expand beyond its roots as a convenient platform for small-dollar traders. The firm’s rise coincided with the “meme stock” phenomenon in early 2021 as retail trading boomed in the aftermath of the Covid-19 pandemic.
Robinhood shares, all-time
Since then, Robinhood has been steadily adding new offerings, including a credit card for Robinhood Gold subscribers and a digital wallet to hold cryptocurrencies.
Robinhood said that it had $139.7 billion in assets under custody at the end of the second quarter, along with 11.8 million monthly active users. For the comparable quarter in 2021, near the height of the GameStop mania, Robinhood reported $102 billion in assets but 21.3 million monthly active users. The firm’s next earnings report is scheduled for Oct. 30.
Shares of Robinhood are up more than 100% so far this year.
The announcements on Thursday were part of HOOD Summit, a conference for Robinhood’s customers.