Stocks making the biggest moves midday: Micron, Tesla, Tripadvisor, AppLovin, Nvidia & more
Here are some of the companies making headlines in midday trading. Artificial intelligence infrastructure – Companies tied to the AI data center build-out saw shares tank, contributing to the Nasdaq Composite’s slide into a correction. The iShares A.I. Innovation and Tech Active ETF (BAI) shed 10%. Photonics play Lumentum slid 14%, HVAC service provider Comfort Systems lost 10%, CoreWeave tumbled 12%, Corning dropped 13% and nVent Electric slid more than 12%. Semiconductors – Traders backed away from chips as the tech sector sold off hard Thursday. The iShares Semiconductor ETF (SOXX) was last down more than 9%. Fabless semiconductor stock Astera Labs dropped 15%, while AMD shed 14%. Nvidia and Broadcom each lost almost 7%. Memory chip stocks Micron fell almost 13% while SanDisk plunged 20%. Tripadvisor – Shares of the travel platform operator plummeted 22% on the back of a leadership shakeup and disappointing guidance. Tripadvisor CEO Matt Goldberg will leave the platform, as will finance chief Michael Noonan. Goldberg will remain as CEO through Feb. 16, while Noonan will continue in his role through Dec. 31. Separately, TripAdvisor forecast a fourth-quarter sequential revenue decline in the low teens. Motorola Solutions – The security tech company jumped 5% on the back of a guidance raise for the full year. Motorola anticipates adjusted earnings of $17.94 to $17.99 per share on revenue of about $13.05 billion. That compares to the FactSet consensus call for $17.71 per share and revenue of $12.97 billion. EPAM Systems – The software company soared 22% after raising earnings guidance for the full year. EPAM sees adjusted earnings of $13.23 to $13.31 per share, up from an earlier $13.08 to $13.24 per share and ahead of the FactSet consensus estimate for $13.15. The board also approved a $1.5 billion increase in a buyback authorization. Tesla , SpaceX – Shares of Elon Musk’s companies slid for a second day as traders dumped tech stocks and grew skeptical of the artificial intelligence trade. Democrats’ midterm victories in Texas, including Gina Hinojosa’s win in the gubernatorial race, spurred worries that there could be a slowdown in the AI build-out effort in the state. Tesla tumbled 11%, while SpaceX dropped 9%. Corpay — The corporate spending and payments manager rallied 8% after reporting third-quarter results that beat expectations. Corpay earned $7.54 per share, excluding certain items, on revenue of $1.38 billion. Analysts polled by FactSet expected a profit of $7.20 per share on revenue of $1.36 billion. The company also hiked its full-year outlook for adjusted EBITDA. Tapestry — Shares gained 6% after the luxury fashion company raised its full-year outlook. On a non-GAAP basis, the company expects $8.25 to $8.35 in earnings per share and $8.5 billion to $8.6 billion in revenue for fiscal 2027. Unity Software — Shares of the game development company surged 11% following blowout results. Unity Software posted third-quarter earnings of 25 cents per share on revenue of $622 million. Analysts surveyed by LSEG had expected per-share earnings of 5 cents on revenue of $567 million. Qualcomm — The chipmaker plunged 11% after posting a slight earnings beat in its fiscal fourth-quarter financial report . Qualcomm sees adjusted earnings of $2.15 to $2.35 per share in the current quarter, while analysts polled by FactSet were estimating $2.26 per share. AppLovin — Shares rallied 26% following stronger-than-expected third-quarter results. The software company known for mobile game advertising posted adjusted EBITDA of $1.84 billion, more than the FactSet consensus estimate of $1.73 billion. Revenue of $2.18 billion topped analysts call of $2.07 billion. Expedia — The online booking company slid more than 13% after issuing mostly weaker-than-expected guidance for the current quarter. Expedia sees revenue between $3.69 billion and $3.75 billion in the fourth quarter, but analysts polled by FactSet on average estimated $3.74 billion. Arm Holdings — The designer of central processing units dropped 12% after a strong earnings report. The U.K. company reported adjusted earnings of 52 cents per share, besting the LSEG consensus estimate of 47 cents. Cava — The restaurant chain tumbled 9% after third-quarter results missed expectations. Earnings of 11 cents a share were short of the LSEG consensus estimate of 12 cents. Cava posted revenue of $356 million while analysts expected $359 million. Wolfspeed – The semiconductor manufacturer fell 14% after posting a wider-than-expected loss in the fiscal first quarter. Wolfspeed’s adjusted loss of $2.03 per share compared with the FactSet consensus estimate for a $1.99 per share loss. Figma — The software stock dropped 15% after the cloud-based design platform posted third-quarter results that bested expectations. Figma posted adjusted earnings of 10 cents a share on revenue of $391 million, while the LSEG consensus called for 5 cents a share and $376 million. Snap – The social media stock tumbled 15% following third-quarter revenue of $1.72 billion that narrowly missed the LSEG consensus estimate of $1.73 billion. Global daily active users of 495 million also trailed StreetAccount consensus expectations 499 million. Dutch Bros — The coffee chain tumbled 22% after Dutch Bros cut its full-year adjusted EBITDA guidance to at least $380 million from a previous range of $385 million to $390 million. Same-store sales in the third quarter were weaker than expected at 4.4%, versus the StreetAccount consensus estimate of 4.6%. Fastly – Shares of the edge cloud platform tumbled 25%, though earnings and revenue in the third quarter topped estimates, as did guidance for the current quarter. The company announced Scott Lovett, president of Go To Market, will retire in 2027. — CNBC’s Nick Wells, Ananya Chetia, Contessa Brewer, Davis Giangiulio, Fred Imbert, Paulina Likos and Darla Mercado contributed reporting.
