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Eli Lilly, Intel Surge; Nike, RH Plunge in Midday Market Moves

Midday trading saw significant stock movements driven by company-specific news. Eli Lilly and Intel surged on regulatory approval and a major investment, while memory stocks rebounded. Conversely, Nike and RH declined due to revenue misses and cautious forecasts. Energy stocks fell with oil prices, but gold miner Newmont rose. The session highlighted how earnings, regulatory updates, and commodity prices influenced market performance.

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Eli Lilly, Intel Surge; Nike, RH Plunge in Midday Market Moves

Midday trading witnessed sharp movements across various sectors, with pharmaceutical and tech stocks rallying on positive developments while retail and energy names slipped on disappointing results.

Stocks on the Rise

  • Eli Lilly: Shares rose approximately 4% after the FDA approved Foundayo, its once-daily GLP-1 pill for obesity treatment.
  • Intel: Stock jumped 9% following the announcement of a $14.2 billion deal to repurchase a 49% stake in its Ireland Fab 34 joint venture from Apollo Global Management.
  • Memory Stocks: Sandisk gained 10%, Western Digital rose 11%, Seagate Technology added over 8%, Lam Research increased nearly 5%, and Micron climbed 10% after a rebound from recent losses and positive analyst coverage.
  • Cal-Maine: The egg producer surged 5.8% on a quarterly earnings beat, reporting $1.06 per share versus the $0.70 estimate and revenue of $667 million against $642.5 million expected.
  • Dave & Buster's Entertainment: Shares soared 20% after management forecast increased same-store sales and revenue for 2026, despite a quarterly loss.
  • PVH: The parent of Tommy Hilfiger and Calvin Klein brands rose 9% on fourth-quarter adjusted earnings of $3.82 per share and revenue of $2.51 billion, both beating estimates.
  • NCino: The cloud software company surged 12% after providing first-quarter revenue guidance above consensus and reporting strong fourth-quarter results.
  • Newmont: The gold miner jumped 6% as gold prices rebounded, trading at levels not seen since March 20.

Stocks in Decline

  • Hasbro: The toymaker fell over 4% due to a cybersecurity incident that led to unauthorized network access; systems were taken offline for investigation.
  • Philip Morris International: Shares dropped more than 5% after Reuters reported the FDA delayed authorization for nicotine pouch products over concerns about risks to new users.
  • Nike: The athletic apparel stock slumped 14% despite beating earnings estimates, as North American revenue fell short and the company faced downgrades from major banks.
  • RH: The home furnishings retailer plunged 23% after projecting full-year revenue growth of 4-8%, below the 8.8% estimate, and missing quarterly earnings and revenue expectations.
  • Oil Stocks: Chevron and Exxon Mobil each fell over 4%, with ConocoPhillips, EOG Resources, and Occidental Petroleum also declining, as crude oil prices dropped below $100 per barrel.
  • Ares Management: Shares dipped 1% after the firm revised down its first-quarter net performance income guidance to around $75 million from $100 million.

—CNBC's Christina Cheddar Berk, Michelle Fox, and Yun Li contributed to this report.

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