Stocks move sharply midday after earnings, guidance, and regulatory news
Midday stock movers: Tesla, Sandisk, KLA and Quanex swing on news See why AMC, Lululemon, Adobe and others shifted with earnings and guidance
Several largecap stocks moved sharply in midday trading on Friday as investors reacted to earnings updates, guidance changes, and companyspecific news.
Tesla fell after federal regulators said they are reviewing whether the company’s Cybercab complies with safety standards, while Sandisk and KLA rose with the broader semiconductor sector. Quanex Building Products jumped after reporting strongerthanexpected quarterly results.
Other notable movers included AMC Entertainment, which advanced after its CEO criticized Robinhood’s stock token offerings, and Lululemon Athletica, which dropped after issuing a weaker outlook for the current quarter. Shares of Adobe, Asana, UiPath, and Zscaler also moved on earnings or leadership announcements, while credit monitoring and mortgagerelated firms fell after comments from the Federal Housing Finance Agency.