Check out the companies making headlines in midday trading. Analog Devices — Shares gained 8% after the semiconductor manufacturing company beat earnings and revenue expectations and management signaled a “return to growth” for the 2025 fiscal year. Analog Devices reported adjusted earnings of $1.63 per share on revenue of $2.42 billion, while analysts polled by FactSet expected earnings of $1.54 per share on revenue of $2.36 billion. Quantum stocks — Quantum stocks rallied on Wednesday following Microsoft ‘s release of its first quantum computing chip , Majorana 1. In the news release , Microsoft said that the reveal showed that “quantum computers capable of solving meaningful, industrial-scale problems” are “years, not decades” away. Shares of BTQ Technologies surged about 36%, while Rigetti Computing added 3.9% and D-Wave Quantum popped about 10%. IonQ stock followed with a 1% gain. Microsoft shares were slightly higher. Occidental Petroleum — The energy company posted strong quarterly adjusted earnings, leading shares about 6% higher even though revenue fell short of expectations. Occidental posted earnings of 80 cents per share, excluding items, while analysts surveyed by LSEG called for 70 cents per share. Revenue of $6.84 billion came out below the consensus call for $7.05 billion. Hims & Hers Health — Shares of the telehealth company popped 22% after Hims and Hers Health acquired at-home lab testing facility Trybe Labs in a deal that will allow the company to provide at-home lab testing. The deal is expected to roll out over the next year. STMicroelectronics — U.S.-listed shares of the semiconductor firm climbed nearly 8% after Jefferies upgraded the stock to buy from hold and said it expects a rebound in the company’s financials after the first quarter of 2025. Nikola — Shares of the electric truck maker plunged more than 40%. At one point, they were halted for trading . Nikola filed for Chapter 11 bankruptcy protection after the company failed to secure a buyer or raise additional funds. Toll Brothers — The stock shed 7% following the homebuilder’s fiscal first-quarter earnings and revenue miss. Earnings were $1.75 per share, short of the $2.04 per share expected from analysts polled by LSEG. Revenue came in at $1.84 billion, versus the $1.91 billion consensus estimate. In addition, home deliveries were 1,991, below Street Account’s estimate of 2,060. Etsy — The e-commerce stock dropped more than 8% after the company posted weaker-than-expected fourth-quarter revenue . Etsy reported $852.2 million for the period, below the $862.8 million that analysts surveyed by LSEG were expecting. The company, however, reported adjusted earnings of $1.03 per share versus the 93 cents per share that was penciled in. Capital One Financial , Discover Financial Services — Shares of Capital One and Discover Financial Services added 2% after the two companies said their respective shareholders voted to approve Capital One’s acquisition of Discover. SolarEdge Technologies — The renewable energy company surged 24% after posting a top-line beat in the fourth quarter. SolarEdge reported $196.2 million in revenue, which came above analysts’ forecasts for $189.3 million, per FactSet. Philips — U.S.-traded shares of the Netherlands-based health technology company shed 11% after Philips reported lackluster results for its top and bottom lines in the fourth quarter. Philips reported earnings of 0.51 euros per share on 5.04 billion euros in revenue, while analysts had called earnings of 0.53 euros per share and revenue of 5.07 billion euros, according to FactSet. Comparable growth came in at 1% in the prior quarter, short of the consensus forecast for 1.7%. Howard Hughes Holdings — The real estate developer’s shares tumbled roughly 8% to about $74 apiece after Pershing Square’s Bill Ackman raised his takeover offer to create what he sees as a modern-day Berkshire Hathaway. The billionaire investor said his firm has submitted a proposal to acquire 10 million newly issued Howard Hughes shares at $90 per share. Some Wall Street analysts believe the deal doesn’t create much value for current shareholders. Arista Networks — Shares shed 7% even though the data center company beat analysts’ expectations in its last quarter. Arista earned an adjusted 65 cents per share on $1.93 billion in revenue for the fourth quarter, while analysts surveyed by LSEG had forecasted adjusted earnings of 57 cents per share on $1.90 billion in revenue. In the current quarter Arista sees revenue coming in between $1.93 billion to $1.97 billion versus the $1.91 billion consensus estimate. Bumble — Shares fell nearly 28% after the online dating platform issued weak first-quarter guidance. Bumble forecasts its revenue for the period to range between $242 million and $248 million, while analysts polled by LSEG sought $257 million. Cadence Design Systems — The computer software company posted disappointing full-year guidance, leading the stock down by 10% . Cadence estimates adjusted earnings to fall between $6.65 and $6.75 per share, while analysts called for $6.83 a share, per LSEG. Its revenue forecast of $5.14 billion to $5.22 billion is slightly under the consensus call for $5.25 billion. — CNBC’s Hakyung Kim, Sean Conlon, Lisa Han, Yun Li 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.”