Stocks move sharply midday as earnings and guidance drive gains and losses
Stock market movers: earnings and guidance spark sharp gains and losses See which companies rallied, sank, and why investors are reacting today
Several stocks moved sharply in midday trading on Friday as investors reacted to quarterly earnings, updated guidance, and regulatory news.
IES Holdings rose more than 30% after reporting betterthanexpected results, while GoDaddy fell 20% after issuing outlooks that disappointed Wall Street. Other notable gainers included Newell Brands and SPX Technologies, both of which raised their forecasts after stronger quarterly performance.
Among larger technology names, Amazon jumped 15% after reporting stronger revenue and cloud growth, while Apple fell more than 9% despite posting higher revenue, led by a rise in iPhone sales. Reddit shares dropped 22% on concerns about searchreferral traffic, even though the company beat earnings expectations and offered a stronger outlook. Chevron gained after a strong quarter, while ExxonMobil and Moderna were lower after their latest results.