Stocks Making Major Moves Midday: Tesla Surges Ahead of Cybercab Launch; Snowflake Soars on Strong Earnings
Several stocks saw notable movement in midday trading, driven by earnings reports, guidance changes, and strategic updates. Tyson Foods dropped nearly 7% after lowering its full-year adjusted operating income forecast due to beef market pressures. Meanwhile, Meta Platforms rose 3% following the release of a new AI model, Muse Spark 1.3. Snowflake led gains with an almost 22% jump in shares after beating second-quarter earnings and revenue estimates and raising full-year guidance. The stock also lifted software peers like Datadog and ServiceNow. Tesla rose over 6%, buoyed by anticipation for its upcoming Cybercab event, while Coinbase and other crypto-related stocks climbed as Bitcoin surged past $80,000. Robinhood jumped nearly 15% after Deutsche Bank highlighted potential growth in prediction markets where the company could benefit. In contrast, Ciena fell almost 9%, Broadcom dropped 3%, and Ultragenyx Pharmaceuticals plunged 44% due to disappointing Phase 3 trial results for a rare disease treatment.
Tickers: $AVGO $CIEN $COIN $CPB $CRM $DDOG $DELL $HOOD $HPE $META $NOW $RARE $RIOT $SNOW $TSLA $TSN
Topics: cryptocurrency earnings guidance_changes market_reaction