Stocks making the biggest moves midday: OXY, HIMS, BMBL
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 =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 & 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 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 for 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 does not 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 forecast 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 and $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 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.
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