Cintas CorporationUpgraded to buy by Bank of America.
Several stocks made big moves in midday trading following earnings reports and analyst actions. ManpowerGroup surged 33% after calling for third-quarter revenue to rise 2% to 6%, above the FactSet consensus of 1.7%, and posting adjusted earnings of 99 cents per share on revenue of $4.9 billion, topping estimates. Abbott Laboratories jumped almost 11% as it raised its full-year adjusted earnings guidance to a range of $5.45 to $5.60 per share, above the FactSet consensus of $5.47. UnitedHealth rose 4% after reporting adjusted earnings of $6.38 per share on revenue of $112.03 billion, beating LSEG estimates, and hiked its full-year outlook. Taiwan Semiconductor Manufacturing shed 2% despite beating second-quarter earnings estimates, as it raised full-year capital expenditures to between $60 billion and $64 billion and announced an additional $100 billion investment in Arizona. AtaiBeckley jumped 33% after Eli Lilly agreed to buy the psychedelic drugmaker for $2.8 billion, or $6.75 per share in cash, with potential milestone payments of up to $2.50 per share. GE Aerospace dropped 4% even after beating second-quarter earnings and revenue estimates and raising full-year guidance. United Airlines fell more than 1% as softer-than-expected third-quarter guidance of $2.50 to $3.50 per share, below the FactSet estimate of $3.53, overshadowed an earnings beat. J.B. Hunt Transport Services jumped almost 7% after reporting earnings of $1.91 per share on revenue of $3.5 billion, exceeding FactSet estimates. Cintas gained 6.5% following a Bank of America upgrade to buy, while Cinemark and Imax fell about 4% and 2% respectively after Wells Fargo downgraded both to equal weight. AST SpaceMobile tumbled more than 16% on plans to offer $1 billion of convertible senior notes due 2034.
Cintas CorporationUpgraded to buy by Bank of America.
ManpowerGroup IncManpowerGroup surged 33% after calling for third-quarter revenue to rise 2% to 6%, above consensus, indicating strong demand for staffing services.
United Airlines Holdings IncSofter-than-expected Q3 guidance of $2.50-$3.50 per share, below FactSet estimate of $3.53, overshadowed earnings beat.
JB Hunt Transport Services IncJ.B. Hunt Transport Services jumped almost 7% after reporting earnings and revenue that exceeded estimates.
ManpowerGroup Greater China Ltd
Cinemark Holdings IncDowngraded to equal weight by Wells Fargo.
Imax CorpImax fell about 2% after Wells Fargo downgraded to equal weight.
IMAX China Holding Inc
Abbott LaboratoriesRaised full-year adjusted earnings guidance above consensus.
Eli Lilly and CompanyEli Lilly agreed to buy AtaiBeckley for $2.8 billion, a strategic acquisition.
ATAI Life Sciences BVEli Lilly agreed to buy the company for $2.8 billion.
GH Research PLC
AeroVironment Inc
L3Harris Technologies Inc
Taiwan Semiconductor Manufacturing Co. Ltd.Raised full-year capex to $60-$64 billion and announced additional $100 billion investment in Arizona, despite beating Q2 estimates.
Ast Spacemobile IncPlans to offer $1 billion of convertible senior notes due 2034.
UnitedHealth Group IncorporatedBeat Q2 earnings estimates and raised full-year outlook.
GE AerospaceGE Aerospace dropped 4% despite beating earnings and raising guidance, as the market focused on other factors.
Rocket Companies Inc