Stock Market Midday Movers: Meta, Microsoft, MarketAxess and Others
Midday trading saw significant stock movements across various sectors. Crocs dropped over 10% despite beating Q2 expectations due to weaker-than-expected margins and lighter guidance for the third quarter. In contrast, Microsoft surged nearly 5%, driven by strong quarterly revenue of $90 billion and robust Azure growth that exceeded forecasts. Meta Platforms fell more than 9% after missing earnings estimates and providing lower-end Q3 revenue guidance compared to analyst expectations. MarketAxess jumped over 30% following a $5 billion acquisition offer from Intercontinental Exchange, while Quanta Services rose nearly 15% on better-than-expected results and raised full-year guidance. Other notable moves included Yum Brands rising 4% after outlining recovery plans post-cyclosporiasis outbreak, Fair Isaac falling over 16%, C.H. Robinson Worldwide dropping 15%, PBF Energy surging more than 15%, Teladoc Health plunging nearly 30%, Norwegian Cruise Line declining 7%, and Bristol-Myers Squibb rising slightly after beating earnings estimates.
Tickers: $BMY $CHRW $CROX $FICO $META $MKTX $MSFT $NCLH $PBF $PWR $QSR $TDOC $YUM
Topics: Crocs MarketAxess Meta Platforms Microsoft Quanta Services Yum Brands