See the companies making headlines in midday trading: Ryanair — Shares fell 15.4% after the budget airline reported weaker-than-expected fiscal first-quarter earnings. The company said its quarterly after-tax profit fell 46% and that it expects prices to be lower than expected in the summer months. CrowdStrike — The cybersecurity stock fell about 13.5% as investors fully digested Friday’s massive outage, which led to thousands of flights being canceled. Guggenheim downgraded CrowdStrike to neutral from buy on Sunday, citing potential delays to the company’s new deals at least in the near term. IQVA Holdings — The stock jumped more than 9.2% after the health technology company’s second-quarter earnings beat expectations. The company reported adjusted earnings of $2.64 per share on revenue of $3.81 billion. Analysts polled by FactSet had expected earnings of $2.56 per share on revenue of $3.79 billion. Nvidia — Shares rose about 4.8%. On Monday, Reuters reported, citing people familiar with the matter, that the company is working on a version of its Blackwell chips for the Chinese market. The report added that the new version would comply with existing U.S. export controls. Verizon — Shares fell about 6% after the telecom company reported weaker-than-expected quarterly revenue. In the second quarter, the company reported sales of $32.8 billion, missing the FactSet consensus estimate of $33.05 billion. Adjusted earnings of $1.15 per share were in line with expectations. Tesla — Shares of the electric car maker rose more than 5% ahead of the company’s earnings results on Tuesday. Chief Executive Elon Musk said Monday that humanoid robots will be in production in-house next year. Chinese electric vehicle stocks — Shares of Chinese electric vehicle companies rose after the People’s Bank of China said it cut its seven-day reverse repurchase rate to 1.7% from 1.8%. The one-year loan prime rate was also cut to 3.35%, while the five-year loan rate was cut to 3.85%. Xpeng shares rose 6.5% on the news, while Nio and Li Auto shares rose more than 5% and 4%, respectively. Mattel — Shares of the toymaker surged more than 15%. Reuters reported, citing people familiar with the matter, that private equity firm L Catterton has approached Mattel with a takeover offer. The sources stressed that there is no certainty that the firm’s approach will prompt Mattel to explore a sale. Semiconductor stocks — Investors snapped up shares of chipmakers, which suffered a sharp selloff last week. Shares of VanEck Semiconductor ETF (SMH) jumped about 4%, trying to rebound from a 9.6% drop last week. Shares of On Semiconductor and KLA Corporation rose more than 6%, while ASML Holding jumped more than 5%. — CNBC's Alex Haring, Hakyung Kim, Lisa Kaylai Han and Darla Mercado contributed reporting.
Trending
- Stock futures were little changed after the Federal Reserve signaled that an interest rate cut was imminent.
- Tesla's Optimus Faces Human Competition at Robotics Conference in Beijing
- How to Position Yourself for a Global Tech Slowdown, According to Morgan Stanley
- Two big tests are coming that will determine whether last week's stock market excitement was justified.
- How a 'seriously outstanding tax debt' can lead to your passport being revoked
- Hezbollah fires rockets at Israel in revenge for its supreme leader
- Boeing Starliner Returns Empty, NASA Enlists SpaceX to Transport Astronauts
- Dividend Stocks Are a Hot Pick in the Fall Due to the Fed and Interest Rates
RYAAY, CRWD, IQVIA and more
