Stocks making the biggest moves midday: CoreWeave, Micron, Booking Holdings, McDonald's, CVS Health & more
Here are some of the companies making headlines in midday trading. AI infrastructure — Companies tied to data centers slid following Democrats’ midterm election victories as traders prepared for a slowdown in the build-out effort . The iShares A.I. Innovation and Tech Active ETF (BAI) slid more than 2%. Comfort Systems and Vistra tumbled 17% and 13%, respectively. Memory stocks Micron and Sandisk lost 5% and 7%. Defense stocks — Shares of defense companies tumbled after Democrats swept Congress in the midterm elections. The iShares U.S. Aerospace & Defense ETF (ITA) slipped more than 1%; Lockheed Martin fell 6%. Howmet Aerospace and Northrop Grumman each lost more than 4%. Trump Media & Technology Group — Shares of President Donald Trump ‘s social media company and tech company were down 11% after a decisive victory by Democrats in the U.S. midterm elections Tuesday night. Trump owns 41% of the company, which owns social media platform Truth Social. Democrats taking control of Congress add a check on the president’s policies. Tesla , SpaceX — Shares of Elon Musk’s Tesla and SpaceX dropped 3% each. The moves come after the Democrats won control of the House of Representatives and the Senate. Many of the newly elected candidates have criticized the rapid data center build-out that’s been fueled by artificial intelligence. SpaceX operates an AI supercomputing infrastructure in Tennessee and Mississippi , while Tesla has one in Texas. Neocloud stocks — Shares of so-called neocloud companies moved lower, with CoreWeave dropping 9%, Iren tumbling 11% and Nebius slipping about 6%. The Democratic wins in Texas and rejection of data centers in ballots across the country is expected to create hurdles for data center plays. Trimble – The software company tanked almost 18%. Trimble said it anticipates organic annual recurring revenue growth of roughly 10% for 2026, down from its previous call for a range of 12% to 14%. Fidelity National Information Services — The financial software stock tumbled 24% after the company slashed its full-year earnings outlook. FIS sees adjusted earnings per share in a range of $5.82 to $5.89. That’s down from a prior forecast of $6.15 per share to $6.24 per share. AppLovin — Shares rallied more than 10% as traders awaited the company’s third-quarter results after the bell Wednesday. Analysts polled by FactSet expected AppLovin to report earnings per share of $4.03 on revenue of $2.075 billion. Clear Secure — The identity verification company soared 33% after lifting its forecast for free cash flow for the full year. Clear Secure sees at least $490 million in free cash flow, topping the FactSet consensus estimate of $482.9 million. Third-quarter results also topped the Street’s estimates. Consumer discretionary stocks — Cyclical stocks that sell to consumers rallied after better-than-expected results from Booking Holdings . Booking jumped 11% and Expedia by 13%. Nike rallied more than 6% and Amazon climbed almost 7%. Novo Nordisk — Shares gained over 6% after the global healthcare company reported earnings of 5.79 Danish kroner, or about 63 cents per share, compared with Wall Street expectations of 5.10 kroner, or about 55 cents. The company raised its fiscal 2026 outlook, citing expectations for GLP-1 product sales. McDonald’s — The fast-food restaurant chain reported mixed quarterly results , sending shares 5% higher. Adjusted earnings came in at $3.57 per share, topping the $3.38 expected from analysts polled by LSEG. However, its revenue of $7.16 billion fell short of the $7.29 billion consensus estimate. CVS Health — Shares fell more than 12% after the company said it would split into two separate publicly traded companies by the first half of 2028. The move would reverse CVS’ $78 billion acquisition of Aetna and separate the company’s retail pharmacy business. Duolingo — The language learning software company surged 32% after reporting third-quarter revenue of $309 million. That topped an LSEG consensus of $303 million. Monthly active users totaled 153 million for the quarter, exceeding a 149 million forecast. Adjusted EBITDA margin also topped expectations. Block — The fintech stock rallied almost 16% after Block posted third-quarter earnings and revenue that exceeded expectations, and raised guidance for the full year ending December. Adjusted earnings of $1.13 per share topped the $1.03 LSEG consensus estimate, while revenue of $6.72 billion beat the $6.59 billion consensus. Renewable energy stocks — Shares of renewable energy companies moved higher after the Democratic sweep of Congress. Sunrun and Plug Power each climbed roughly 7%, while Nextpower jumped 15%. Datadog — The cloud monitoring company sank 14% after releasing its third-quarter financial results. While it beat on both the top and bottom lines, its revenue guidance came in soft. Datadog expects revenue of $1.19 billion to $1.20 billion for the fourth quarter, versus the $1.20 billion consensus estimate. Kraft Heinz — The food and beverage manufacturer gained 6%. Kraft Heinz said it will divest its North America coffee business to One Rock Capital Partners. The company also reported adjusted earnings of 53 cents per share on revenue of $6.12 billion for its third quarter, topping expectations. Analysts polled by LSEG had expected EPS of 42 cents on revenue of $6.09 billion. — CNBC’s Darla Mercado, Deena Zaidi, Paulina Likos, Sarah Min, Davis Giangiulio, Ananya Chetia, Fred Imbert, Scott Schnipper and Nick Wells contributed reporting.
