Check out the companies making headlines in midday trading. Reddit – Shares soared 41% after the social media company reported a blockbuster third-quarter report . Reddit reported earnings of 16 cents per share, while analysts surveyed by LSEG had expected a loss of 7 cents. The company’s $348.4 million revenue also exceeded consensus estimates of $312.8 million. Reddit guided fourth-quarter revenue and adjusted earnings that beat the average analyst estimate. Super Micro Computer – The AI server stock shed 30% after revealing in a regulatory filing that its auditor EY resigned after raising concerns about the board’s independence and accounting practices. Garmin – Shares rose more than 23%, hitting a new 52-week high, following the company’s better-than-expected third-quarter results. For the period, Garmin posted pro forma earnings of $1.99 per share on $1.59 billion in revenue. That’s above the $1.45 per share on $1.44 billion in revenue that analysts polled by FactSet were expecting. The company also raised its full-year forecast. Eli Lilly – The stock plummeted more than 7% after the drug maker posted weaker-than-expected third-quarter earnings and cut its full-year outlook. Eli Lilly earned $1.18 per share, excluding items, on revenue of $11.44 billion. That’s below the consensus estimate of $1.47 per share and $12.11 billion in revenue, according to LSEG. XPO – Shares soared more than 13% on the backs of the logistics company topping Wall Street’s third-quarter expectations. XPO earned $1.02 per share, excluding items, while analysts polled by FactSet had expected 90 cents per share. Revenue, on the other hand, came in just ahead of expectations, with the company seeing $2.05 billion compared to the consensus estimate of $2.02 billion. Shake Shack – The stock moved nearly 14% higher, hitting a new 52-week high, after the burger chain’s quarterly results surpassed the Street’s expectations. For the third quarter, Shake Shack earned 25 cents per share, excluding items, on $316.9 million in revenue. Analysts surveyed by LSEG were expecting 20 cents per share on $316.1 million in revenue. Caesars Entertainment – The stock plunged more than 10% on the heels of the casino operator missing analysts’ expectations for the third quarter. In an earnings call with analysts, CEO Thomas Reeg said, “There’s still more headwinds than tailwinds for us. I think you’re looking at a year that’s down slightly to flat is my Regional expectation for next year.” Wingstop – Shares fell around 19% after the restaurant chain missed analysts’ expectations for the third quarter. Wingstop earned 88 cents per share, while analysts were looking for 95 cents per share, per LSEG. Chipotle – The fast casual chain’s stock slid more than 7% after the company missed the Street’s revenue estimates for the third quarter. Chipotle also missed expectations for same-store sales, seeing a 6% increase in the period compared to the 6.3% growth that analysts polled by StreetAccount were expecting. Alphabet – The search giant’s stock gained more than 5% following the Google parent’s stronger-than-expected third-quarter earnings . The company also saw strong cloud revenue growth for the period, notching nearly 35% gains from the prior-year period. Visa – The stock advanced nearly 4% following the global payments company’s earnings beat for the fiscal fourth quarter. Visa posted $2.71 in adjusted earnings per share on revenue of $9.62 billion. Analysts were expecting $2.58 per share on revenue of $9.49 billion, per LSEG. The company also increased its quarterly dividend by 13% to 59 cents . Qorvo – The semiconductor stock dove 24.6%. Weak earnings guidance for the current quarter appeared to pull attention from a better-than-expected report for the second fiscal quarter. Following the report, Raymond James downgraded its rating to market perform from outperform and removed its price target. Snap – Shares surged nearly 16% on the backs of a better-than-expected third-quarter earnings report and the announcement of a $500 million stock repurchase program. The social media platform posted 8 cents in adjusted earnings per share and revenue of $1.37 billion. Analysts were looking for 5 cents per share and $1.36 billion in revenue, according to LSEG. Advanced Micro Devices – Shares tumbled 9.5% after AMD gave guidance for fourth-quarter revenue of $7.5 billion, in line with analysts expectations, per LSEG. It also posted adjusted earnings per share for the third quarter that met expectations, while revenue beat estimates. VinFast Auto – The stock rose more than 2% after Bloomberg News, citing a person with direct knowledge of the matter, reported that a group of investors is going to invest at least $1 billion into the electric vehicle maker. The funding push is being led by Emirates Driving, according to the Bloomberg News source. Humana – The health insurance stock jumped more than 3% after a better-than-expected report for the third quarter. Humana generated $4.16 in adjusted earnings per share on $29.30 billion of adjusted revenue. Analysts surveyed by LSEG had penciled in $3.40 per share on $28.67 billion of revenue. First Solar – The solar stock dipped 1% after posting disappointing third-quarter earnings and revenue, and lowering its full-year guidance. First Solar reported per-share earnings of $2.91 on revenue of $887.7 million. Analysts polled by FactSet anticipated earnings of $3.16 per share on revenue of $1.08 billion. However, a number of Wall Street firms including Goldman Sachs and Bank of America reiterated buy ratings on the stock following the results, with Bank of America saying “don’t fret the noise.” — CNBC’s Alex Harring, Samantha Subin, Lisa Kailai Han, Sarah Min, Jesse Pound and Michelle Fox contributed reporting.
Check out the companies making headlines in midday trading: T-Mobile — Shares pulled back 11% after the company’s wireless subscribers for the first quarter missed Wall Street estimates. T-Mobile reported 495,000 postpaid phone additions in the first-quarter, while analysts polled by StreetAccount were looking for 504,000. Alphabet — The Google parent company gained about 2% on the heels of better-than-expected first-quarter results . Alphabet reported $2.81 per share on revenue of $90.23 billion, while analysts polled by LSEG forecast $2.01 in earnings per share and $89.12 billion in revenue. Skechers — Shares fell 4.8% after the footwear maker posted weaker-than-expected revenue for the first quarter and withdrew its 2025 guidance due to ” macroeconomic uncertainty stemming from global trade policies .” The company’s earnings for the quarter came in above analysts’ estimates, however. Gilead Sciences — The biopharmaceutical stock fell 2.5% after first-quarter revenue came in at $6.67 billion, missing the consensus forecast of $6.81 billion from analysts polled by LSEG. However, the company earned $1.81 per share, excluding items, in the quarter, beating Wall Street’s estimate of $1.79 a share. Saia — Shares of the shipping company fell 31% after first-quarter results missed estimates and showed a slowdown in March. Saia reported $1.86 in earnings per share on $787.6 million in revenue. Analysts surveyed by FactSet were expecting $2.76 in earnings per share on $812.8 million in revenue. BMO Capital Markets downgraded the stock to market perform from outperform and said the issues were “company specific.” Intel — The chipmaker declined 7% after Intel’s current quarter missed investors’ expectations. Intel forecast revenue in the June quarter of $11.8 billion at the midpoint, while consensus forecasts called for $12.82 billion, per LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce both its operational and capital expenses. Boston Beer — Shares of the Samuel Adams brewer were more than 1% higher after better-than-expected first-quarter results. Boston Beer notched earnings per share of $2.16 on revenue of $453.9 million, while analysts polled by FactSet were looking for 56 cents per share on revenue of $435.6 million. Boston Beer cautioned that tariffs could hurt full-year earnings. Tesla — The Elon Musk-helmed electric vehicle company surged 10%. Shares have advanced more than 17% this week as the broader market tries to recover from a steep sell-off for much of April. — CNBC’s Jesse Pound, Alex Harring and Sean Conlon contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
Check out the companies making headlines before the bell: Meta Platforms — The Facebook and Instagram parent jumped about 3%. Meta cut staff in its Reality Labs division, CNBC reported. Alphabet — The Google and YouTube owner climbed more than 4% after first-quarter results topped Wall Street expectations. Alphabet earned $2.81 per share on $90.23 billion in revenue for the quarter, while analysts surveyed by LSEG had estimated $2.01 per share and $89.12 billion in revenue. T-Mobile — Shares of the telecommunications company fell 5.5% after it reported fewer first-quarter wireless phone subscribers than the Street expected, seeing 495,000 postpaid phone additions versus analysts’ call for 504,000, according to StreetAccount. Earnings and revenue for the first quarter topped Street estimates. Intel — The chipmaker fell 7.2% after the outlook for the current quarter disappointed investors. Intel guided for revenue in the June quarter to come in at $11.8 billion at the midpoint, less than consensus calls for $12.82 billion, according to LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce its operational and capital expenses. Gilead Sciences — The biopharmaceutical stock slid 3.9% after posting first-quarter revenue of $6.67 billion, missing the consensus estimate of $6.81 billion from analysts polled by LSEG. Gilead earned $1.81 per share, excluding items, in the quarter, while Wall Street penciled in $1.79. Skechers — The footwear maker slumped 6% after reporting lower-than-expected first-quarter revenue and withdrew its 2025 forward financial forecasts on account of ” macroeconomic uncertainty stemming from global trade policies .” Skechers’ bottom-line results came in above analysts’ forecasts. Charles Schwab — The financial services provider advanced 1.4% after Goldman Sachs upgraded shares to buy from neutral, calling Schwab a resilient growth stock amid an uncertain backdrop. Hasbro — The toy company rose about 1% one day after soaring 15%. Citigroup raised its investment opinion to buy from neutral, saying Hasbro’s stronger-than-expected Wizards of the Coast business outweighs any uncertainty stemming from tariff policy, according to analyst James Hardiman. Boston Beer — Shares of the Samuel Adams brewer rose nearly 3% after first-quarter results beat expectations. Boston Beer generated $2.16 in earnings per share on $453.9 million of revenue, while analysts surveyed by FactSet looked for 56 cents per share on $435.6 million in revenue. Boston Beer warned in its outlook that tariffs could hurt full-year earnings. — CNBC’s Alex Harring and Jesse Pound contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
“I think having that professionally managed portfolio is really beneficial to clients,” Coyne told CNBC’s “ETF Edge” this week. “We’re seeing just… greater volatility [and] uncertainty across both the equity and fixed income markets.“
According to Coyne, the T. Rowe Price Capital Appreciation Equity ETF suits investors who are looking for long-term growth.
“The objective of the fund is to outperform the S&P 500 with lower volatility and greater tax efficiency,” he said. “It’s also a more concentrated portfolio, typically holding around a hundred names.”
The T. Rowe Price Capital Appreciation Equity ETF is down about 5% so far this year while the S&P 500 is off about 7% However, the ETF is up close to 8% over the past year — roughly identical to the S&P 500’s performance.
Coyne notes the T. Rowe Price U.S. Equity Research ETF follows a similar strategy, but with a heavier weighting in top tech stocks.
“This is more of a large-cap growth product [T Rowe Price U.S. Equity Research ETF],” he said. “There are components of characteristics of both passive and active here. This fund is actually managed by our North American directors of research. So again, strong fundamental research is going into the stock selection.”
Both the T. Rowe Price U.S. Equity Research ETF and S&P 500 are down around 7% since the beginning of the year. Meanwhile, the fund is up almost 9% over the past year. That’s less than one percent better than the S&P 500’s performance.
T. Rowe Price U.S. Equity Research ETF vs. S&P 500
‘Some form of bear market’
Strategas Securities’ Todd Sohn thinks investment demand for active managers will continue to be strong.
“This is the type of the environment where it [active management] can actually shine,” the firm’s senior ETF and technical strategist said. “We are in some form of bear market. This is where the active manager really can come into hand and offer their solution they are doing right.”