Stocks Making Significant Moves Midday: Amazon, Marvell, PayPal, Salesforce Among Others
Several stocks saw significant movement in midday trading. Workday shares rose nearly 6% after beating second-quarter earnings and revenue estimates. Similarly, ServiceNow gained over 3%, while Finance chief Gina Mastantuono confirmed the AI business is on track for its $1.5 billion annual target. Salesforce continued a post-earnings rally with gains of more than 22% in two days following strong results. On the downside, PayPal shares fell nearly 16% after reports that Advent and Stripe had decided not to pursue an acquisition deal. Nvidia dropped over 3%, reversing from its previous session's near 9% gain. Meanwhile, crypto stocks Coinbase and Amazon were also down as Bitcoin prices retreated slightly. Elastic N.V., Marvell Technology, Rubrik, and Autodesk all saw declines due to earnings or guidance misses. Affirm shares rose nearly 5% after exceeding revenue estimates in the fourth quarter with $1.17 billion reported versus an expected $1.11 billion. Gap also gained over 13%, following a leadership change at Old Navy and better-than-expected Q2 results.
Tickers: $AFRM $AMZN $COIN $CRM $ESTC $NOW $NVDA $PYPL $WDAY
Topics: AI Investments Earnings M&A Activity Stock Performance