Stocks making the biggest moves midday: Micron, Penn Entertainment, Equinix, Core Scientific and more
Check out the companies making the biggest moves midday: Micron Technology — The chipmaker slipped nearly 2% even after its fiscal third-quarter financial results topped expectations . Micron’s adjusted earnings were $1.91 per share, versus the $1.60 expected from analysts polled by LSEG. Revenue was $9.3 billion, above the $8.87 billion consensus estimate. Core Scientific — Shares of the bitcoin miner jumped 27%. The Wall Street Journal reported that the company is in talks to be acquired by the artificial intelligence player CoreWeave, which has an ongoing partnership with Core Scientific and tried unsuccessfully to buy the company about a year ago. CoreWeave shares were little changed. Equinix — Shares of the data center company tumbled about 8%, adding to their 9% drop from the prior session. Equinix provided long-term guidance on Wednesday that disappointed investors and led to a slew of analyst downgrades. Kratos Defense & Security Solutions — The military tech stock fell more than 3% after Kratos said it would sell $500 million of stock. The company said the money raised could be used for capital spending, among other uses. AeroVironment — Shares added 13%, building on their 21.6% advance from a day earlier. The defense contractor rallied on the back of better-than-expected quarterly results. AeroVironment had also issued fiscal-year guidance that beat expectations. McCormick — The food spices stock rose 5% after adjusted earnings for the second quarter beat expectations. McCormick earned 69 cents per share, excluding items, while analysts were looking for 66 cents, according to LSEG. Worthington Steel — The metals processor’s shares shot up 15% after posting higher profits in its fiscal fourth quarter. The company earned $1.05 share, excluding items, on revenue of $832.9 million. Revenue growth was hurt by lower selling prices, but the company said it is gaining market share in key sectors. MillerKnoll — The furniture maker surged 12%. MillerKnoll said net sales for the fiscal fourth quarter jumped more than 8% year over year to $961.8 million. However, adjusted earnings per share came in lower than they did a year ago at 60 cents. H.B. Fuller — The adhesives manufacturer rallied nearly 8% after adjusted earnings per share for the second fiscal quarter came in better than expected. H.B. Fuller posted adjusted earnings of $1.18 per share, beating the consensus forecast from analysts polled by FactSet by 10 cents a share. The company also gave strong guidance for full-year earnings. Penn Entertainment — The gaming stock rose roughly 7% after being upgraded to market outperform from market perform at Citizens. The investment firm said Penn Entertainment is nearing an “inflection point” after the stock has been a long-term underperformer. Acuity — The industrial technology provider rallied 7% after fiscal third-quarter sales and earnings topped Wall Street estimates and full-year forward guidance matched analysts’ expectations. — Alex Harring, Scott Schnipper, Christina Cheddar-Berk and Tanaya Macheel contributed reporting.
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