Stocks making the biggest moves midday: Intel, Chipotle, Juniper Networks and more
The exterior of a Chipotle Mexican Grill store photographed on February 18, 2023 in London, England.Jeremy Moeller | Getty Images
Check out the companies making headlines in midday trading.
Intel — Shares of the chipmaker popped 9.6% on Friday, a day after Intel reported third-quarter results that topped analysts’ expectations. Intel also gave strong guidance for the current quarter, and CEO Pat Gelsinger said the company plans to cut costs by about $3 billion this year.
Dexcom — Shares of Dexcom, which distributes continuous glucose monitoring systems, soared 11.2% after the company posted stronger-than-expected quarterly results and raised its full-year revenue forecast.
Stanley Black & Decker — Shares rallied more than 8% Friday after the industrial tool maker posted an earnings beat in the third quarter. The company also issued full-year earnings guidance between $1.10 to $1.40 per share, coming in higher than prior guidance of 70 cents to $1.30 per share and the consensus estimate. Meanwhile, revenue in the third quarter came in below expectations.
Juniper Networks — The network management software provider climbed 6.2% after exceeding Wall Street’s expectations on earnings and revenue for the third quarter. Juniper earned 60 cents per share on an adjusted basis, while analysts surveyed by FactSet expected 55 cents per share. Revenue came out at $1.4 billion for the period, slightly surpassing the average analyst forecast of $1.39 billion.
Deckers Outdoor — The footwear and apparel company climbed 19% on Friday, a day after beating analyst expectations for the second fiscal quarter and raising full-year guidance. Bank of America reiterated its buy rating on the stock on Friday, noting the company’s Ugg and Hoka brands are “firing on all cylinders.”
Chipotle Mexican Grill — Chipotle shares led the market higher on Friday, gaining 8% after the company’s third-quarter earnings topped expectations. The fast-food chain reported $11.36 in adjusted earnings per share, while analysts surveyed by LSEG were expecting $10.55 per share. Chipotle also saw year-over-year restaurant level operating margin rise.
Enphase Energy — The solar company’s stock dropped about 15% after reporting mixed third-quarter results and sharing a disappointing revenue forecast for the current period. Enphase Energy said it expects revenue between $300 million and $350 million for the quarter, versus the $584 million expected by analysts polled by LSEG.
Chevron — The energy stock dropped more than 5.6% to hit a 52-week low following a disappointing earnings report. Chevron’s earnings fell to $3.05 per share, excluding items, on $54.08 billion in revenue. While profits fell short of Wall Street’s expectations, revenue topped estimates.
Ford Motor — Shares of the automobile maker plunged nearly 10% on Friday. Ford reported results for the third quarter that fell short of Wall Street’s expectations, and the company pulled its previous guidance as it copes with the nearly six-week long UAW strike.
Capital One — Capital One shares added 10.3% after the financial services company posted adjusted earnings of $4.45 per share, which topped expectations.
— CNBC’s Alex Harring, Samantha Subin, Yun Li and Hakyung Kim contributed reporting.