Stocks making the biggest moves midday: AMD, Corning, Arm Holdings, Cencora, Uber & more
Here are the stocks making headlines in midday trading. Arm Holdings — The British semiconductor designer jumped almost 13% on Nasdaq ahead of its latest earnings report due out after the close Wednesday. UBS analyst Timothy Arcuri raised his 12-month price target on ARM Tuesday to $245 from $175 previously. Healthpeak Properties — The healthcare real estate investment trust soared 18% after first-quarter funds from operations (FFO) and revenue both topped Wall Street analysts’ consensus estimates, and it raised its second-quarter guidance for FFO to $1.71 to $1.75. CDW — Shares dropped 19% after the multibrand provider of information technology reported disappointing operating income in the first quarter. The company reported adjusted earnings per share of $2.28 which matched FactSet’s consensus. They reaffirmed their 2026 outlook, seeing adjusted EPS growth guidance in the mid-single digits year over year. Cencora — The drug wholesale and distribution company plummeted 17% after dialing back its revenue growth expectations for 2026. Cencora now anticipates growth of 4% to 6%, versus its earlier guidance of 7% to 9%. Aurora Innovation —The self-driving vehicle company popped 9% after announcing a deal to provide driverless technology to Berkshire Hathaway subsidiary McLane. The partnership allows McLane, one of the largest distribution companies in the U.S., to use the autonomous technology in long-haul trucking on routes in Texas and across the U.S. Sun Belt. Flex — The manufacturing stock soared 35% and hit a 52-week high. Flex announced that it plans to spring off its cloud and power infrastructure business into a new publicly traded company. Advanced Micro Devices — Shares surged nearly 17% after the chipmaker issued strong guidance. AMD is calling for second-quarter revenue of $11.2 billion, plus or minus $300 million, versus the analyst estimate for $10.52 billion. First-quarter results also surpassed expectations on the top and bottom lines. Super Micro Computer — The server maker jumped 15%. Expectations for fourth-quarter profit range from 65 cents to 79 cents per share, trouncing Wall Street’s call for 55 cents a share, per LSEG. In the third quarter, Super Micro posted adjusted earnings of 84 cents per share on revenue of $10.24 billion. Analysts polled by FactSet had expected earnings of 62 cents and $12.39 billion in revenue. Disney — The media giant jumped 6% on fiscal second-quarter revenue that beat analyst expectations. Driving the beat was a strong performance from the company’s streaming and theme park businesses. Corning — Shares popped 13% after the glassmaker announced a deal with Nvidia to build three new manufacturing facilities in North Carolina and Texas. The facilities will help develop optical technologies for the chipmaker, and increase Corning’s optical manufacturing capacity by 900%. CVS Health — The pharmacy benefits operator gained 6% on better-than-expected results for the first quarter. CVS earned an adjusted $2.57 per share on revenue of $100.43 billion. Analysts polled by LSEG expected a profit of $2.20 per share on revenue of $95.1 billion. The company also hiked its full-year earnings outlook. Uber — Shares surged about 7% on strong bookings guidance . For the second quarter, Uber sees bookings in a range of $56.25 billion to $57.75 billion, ahead of $56.17 billion consensus estimate. Arista Networks — The cloud networking company dropped nearly 17%. Adjusted gross margin narrowly missed expectations, coming in at 62.4% in the first quarter, versus the 62.7% anticipated by analysts polled by StreetAccount. Arista’s second-quarter revenue forecast was roughly in line with the Street’s estimate, coming in at $2.8 billion versus the $2.77 billion expected. SolarEdge Technologies — The stock fell 8% after the company reported a wider-than-expected adjusted loss of 43 cents per share in its first-quarter financial report. Analysts polled by FactSet expected a loss of 27 cents per share. Klaviyo — The provider of the email marketing platform plummeted 32%. Second-quarter adjusted operating income is expected to range from $47.5 million to $50.5 million versus the StreetAccount consensus call for $52.7 million. Klaviyo also said that finance chief Amanda Whalen will be leaving the company. She is expected to serve as CFO through Aug. 21 and will move into an advisory role through November. DaVita — The kidney dialysis service provider added 20% after reporting first-quarter adjusted earnings and revenue that exceeded what analysts polled by FactSet were looking for. The company now sees its full-year earnings coming in the range of between $14.10 to $15.20 per share, versus prior guidance of between $13.60 to $15 per share. Skyworks Solutions — Shares of the wireless networking service provider slipped 10%. Skyworks’ third-quarter guidance calls for revenue of $900 million to $950 million, with adjusted earnings of $1.03 per share expected at the midpoint of the revenue range. Analysts polled by FactSet sought 94 cents per share on revenue of $861.2 million. Devon Energy — Shares of the oil and gas producer lost more than 7%. Adjusted earnings in the first quarter came in at $1.04 per share, while the FactSet consensus called for $1.06 per share. Production in the period was slightly short of the Street’s expectation. Maplebear — The Instacart owner dropped nearly 12% after first-quarter earnings of 57 cents per share came in below estimates for 60 cents, according to analysts polled by LSEG. Revenue came roughly in-line with expectations at $1.02 billion. Oil stocks — Energy names fell after Axios reported the U.S. and Iran may be nearing a deal to end the war in the Middle East. APA Corporation and Occidental Petroleum were off 6%. ConocoPhillips tumbled 3%. Exxon Mobil and Chevron were both down roughly 4%. — CNBC’s Lisa Kailai Han, Darla Mercado, Fred Imbert, Scott Schnipper, Michelle Fox and Nick Wells contributed reporting Markets shift and headlines fade, but the core principles of building long-term wealth remain constant. Join us for our third CNBC Pro LIVE, where investors of all backgrounds – from financial professionals to everyday individuals – come together to cut through the noise and gain actionable strategies for smarter, more disciplined investing. No matter where you’re starting from, you’ll leave with clearer thinking, stronger strategies. Enter your email here to get a discount code.
