Stocks move sharply after earnings and deal news
U.S. stocks today: Microsoft rises, Meta falls, and MarketAxess jumps on deal news See the biggest midday movers and what earnings, guidance, and buyouts signal next
Several U.S. stocks moved sharply in midday trading on Thursday after companies reported quarterly results, updated guidance, or announced a takeover deal.
Microsoft rose after beating revenue expectations and reporting strong Azure growth, while Meta fell after missing earnings estimates and issuing a softer revenue outlook. MarketAxess jumped after Intercontinental Exchange agreed to buy the company for more than $5 billion.
Other notable movers included Crocs, which fell despite raising its fullyear forecast, and gains in companies such as Quanta Services, Starbucks, Chipotle, Lam Research, and Baxter International after results topped expectations. Shares of Teladoc Health, Norwegian Cruise Line, Carvana, C.H. Robinson Worldwide, and Altria declined after weaker guidance or mixed quarterly results.