Stocks Move Midday on Earnings, Outlooks, and Product Updates

U.S. stocks and several individual companies moved sharply midday as investors reacted to earnings reports, guidance, product announcements, and business updates. McDonald's fell after its chief executive said high inflation and weak traffic are likely to keep pressuring the restaurant sector. Cracker Barrel rose after posting quarterly results that topped expectations on earnings, revenue, and margins. Worthington Enterprises gained after management pointed to stronger demand for its tanks used in data center cooling systems. Other notable movers included Astrana Health, which dropped after reporting a data breach, and Royal Caribbean, which fell after announcing plans to buy a 50% stake in the parent of Sandals and Beaches Resorts. Alibaba slipped after a recent rally, while Paychex declined on mixed quarterly results. IonQ, Maplebear, and Immunovant also moved after companyspecific announcements and trial results.