Yahoo Finance Midday movers: Ford, Edwards Lifesciences fall; Harley-Davidson, ServiceNow rise
(Updated - July 25, 2024 11:30 AM EDT)
Investing.com -- U.S. stock futures rebounded Thursday, stabilizing after sentiment was hit hard in the previous session by earnings from a couple of tech majors.
Here are some of the biggest U.S. stock movers today:
Ford (NYSE:F) stock slumped 17% after the auto giant reported a significant profit miss for the second quarter as it continues to battle costly quality issues and an EV business that is weighing on its bottom line.
Chipotle (NYSE:CMG) stock fell 3% despite reporting stronger-than-expected earnings for the second quarter, with the fast casual Mexican restaurant chain logging strong comparable restaurant sales in the quarter. However, analysts expressed concerns about its margin guidance.
IBM (NYSE:IBM) (IBM) stock rose 3.7% after increased interest in artificial intelligence helped the tech consulting firm log stronger-than-expected quarterly earnings.
Hasbro (NASDAQ:HAS) stock soared 4% after the toymaker posted a smaller-than-expected drop in second-quarter as steady digital gaming demand offset a slump in toy sales, while cost-control strategies helped it beat profit expectations.
Southwest Airlines (NYSE:LUV) stock rose 4% despite the carrier reporting a 46% drop in profit and forecasting a potential drop in unit revenue for the third quarter, as an oversupplied U.S. market has forced airlines to discount tickets during what is usually the most lucrative period of the year. The airline plans implementation of assigned and premium seating as part of an ongoing and comprehensive upgrade to the customer experience.
American Airlines (NASDAQ:AAL) stock rose 5% despite the carrier cutting its annual profit forecast, as uneven demand trends and overcapacity in certain markets dampened its pricing power. Expectations were low heading into the print.
Royal Caribbean (NYSE:RCL) (RCL) stock fell 3% despite the cruise operator raising its annual profit forecast for the third time this year on the back of continued demand for cruise vacations and higher ticket pricing.
Harley-Davidson (NYSE:HOG) stock rose 6% after the manufacturer of iconic motorcycles reported a 23% rise in quarterly profit, as demand held up for its pricier bikes during the summer riding season.
Keurig Dr Pepper (NASDAQ:KDP) stock rose 2.6% after the beverage company’s quarterly earnings and revenue met expectations as higher prices fueled its U.S. soda sales.
Unilever (LON:ULVR) (ULVR) ADRs rose 6.5% after the consumer goods giant raised its full-year margin guidance and said the spinoff of its Ben&Jerry’s ice cream business was on track to complete by the end of 2025.
ServiceNow (NYSE:NOW) rose 12% after it announced strong second quarter results and raised its guidance for full year subscription revenues. Analysts pointed out its momentum in GenAI.
Edwards Lifesciences (NYSE:EW) fell 26% after it was downgraded by analysts after it reported revenue for the second quarter that was below consensus estimates, along with lackluster guidance.
Additional reporting by Louis Juricic
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