Check out the companies making headlines in midday trading. CrowdStrike – The stock fell more than 10% after an update by the cybersecurity firm caused a major IT outage that affected airlines, hospitals, financial services firms and other businesses . Shares of Microsoft were also marginally lower following the news that many Microsoft users around the world were hit with an error screen called the “blue screen of death.” The outage also sent shares of CrowdStrike rivals SentinelOne and Palo Alto Networks higher, with the stocks gaining around 9% and 2%, respectively. Plug Power – Shares of the green energy company plummeted 13%, on pace for its fourth-straight losing year. Late Thursday, the company announced that it plans to sell $200 million of stock, which now trades around $2.50 per share. Comerica – Shares tumbled nearly 11% after the bank posted second-quarter financial results that reflected a decrease in net interest income from the prior-year quarter. Comerica’s net interest income came in at $533 million, higher than the $530.5 million expected from analysts polled by FactSet, but still lower than a year ago. Comerica’s CEO, Curtis Farmer, said high rates are pressuring the bank’s deposits. Hawaiian Electric – The stock surged 32% after Bloomberg News reported late Thursday that the utility company has joined a tentative deal to pay more than $4 billion resolving hundreds of lawsuits over the Maui wildfires that took place last year. The deal reportedly has not yet been finalized. Intuitive Surgical – The stock jumped 8% after the company reported second-quarter results that topped Wall Street’s expectations. Intuitive Surgical posted adjusted earnings of $1.78 per share on revenue of $2.01 billion, which is higher than the earnings of $1.54 per share on $1.97 billion in revenue that analysts surveyed by LSEG were expecting. American Express – The stock fell 3% after the financial company reported mixed quarterly results for the second quarter. American Express posted revenue of $16.33 billion, which is below the $16.59 billion expected from analysts polled by LSEG. In terms of earnings, the company posted $3.49 per share on an adjusted basis for the period, which is higher than the $3.24 per share analysts expected. SLB – Shares gained 3% after the oilfield services company posted second-quarter earnings of 85 cents per share on an adjusted basis, which is above the 83 cents per share analysts surveyed by LSEG were expecting. SLB also posted $9.14 billion in revenue, higher than the $9.08 billion consensus estimate. Travelers – The stock fell 7% following the insurance company’s mixed second-quarter results. Travelers posted adjusted earnings of $2.51 per share, beating the $1.98 per share consensus estimate, according to analysts surveyed by LSEG. Revenue came in lower, however, at $11.12 billion, as analysts were expecting $11.34 billion for the quarter. Peer insurer W.R. Berkley , due to report results Monday, also slid 7%. Arm Holdings – The chipmaker gained 3.6% after Morgan Stanley upgraded shares to overweight from equal weight . Morgan Stanley said Arm’s products are fundamental to the successful emergence of edge artificial intelligence. Halliburton – Shares of the oil driller moved more than 4% lower. The company posted $5.83 billion in revenue, missing the $5.95 billion analysts polled by FactSet were expecting. Earnings were in line with the consensus estimate at 80 cents per share. Huntington Bancshares – The regional bank added nearly 3%. Huntington posted second-quarter earnings of 30 cents per share on revenue of $1.82 billion, edging ahead of analysts’ estimates for 28 cents a share in earnings and revenue of $1.81 billion, per FactSet. — CNBC’s Hakyung Kim and Pia Singh contributed reporting.
https://www.cnbc.com/2024/07/19/stocks-making-the-biggest-moves-midday-crwd-plug-cma-and-more.html
