Midday Trading Highlights: Key Stock Movements
As the stock market navigates a volatile landscape, several companies are making headlines with significant changes in their stock prices. Below are the latest updates on noteworthy performers in midday trading.
T-Mobile Suffers Subscriber Setback
T-Mobile’s shares dipped by 11% following disappointing subscriber growth. The telecom giant reported an addition of 495,000 postpaid phone customers in the first quarter, falling short of Wall Street’s expectation of 504,000, according to analysts from StreetAccount.
Alphabet Posts Strong Revenue Growth
Alphabet, the parent company of Google, saw its stock rise approximately 2% after announcing better-than-expected first-quarter earnings. The company reported earnings per share of $2.81 on revenues of $90.23 billion, surpassing forecasts of $2.01 per share and $89.12 billion in revenue, as per analysts surveyed by LSEG.
Skechers Faces Revenue Challenges
Skechers’ shares fell by 4.8% due to weaker-than-expected first-quarter revenue, along with the withdrawal of its 2025 financial guidance, citing “macroeconomic uncertainty stemming from global trade policies.” Despite this, the company’s earnings exceeded analysts’ expectations.
Gilead Sciences Reports Mixed Results
Gilead Sciences experienced a 2.5% drop in stock value after its first-quarter revenue of $6.67 billion missed the consensus estimate of $6.81 billion. However, the biopharmaceutical company reported an adjusted earnings per share of $1.81, surpassing Wall Street’s expectation of $1.79 per share.
Saia Shipping Company Suffers Major Losses
Saia, a shipping company, saw its shares plummet by 31% after announcing first-quarter earnings that did not meet projections. The company reported $1.86 in earnings per share on revenues of $787.6 million, while analysts had anticipated $2.76 in earnings per share on $812.8 million in revenue. BMO Capital Markets downgraded Saia’s stock from “outperform” to “market perform,” attributing the issues to company-specific factors.
Intel Falls Short of Investor Expectations
Shares of Intel decreased by 7% after the company predicted a revenue drop in the upcoming quarter. Intel forecasted a revenue of $11.8 billion for the June quarter, while analysts were expecting $12.82 billion, according to LSEG. The company also announced plans to reduce operational and capital expenses to enhance their financial position.
Boston Beer Surprises with Strong Earnings
The Boston Beer Company, known for its Samuel Adams brand, experienced a stock increase of over 1% after reporting better-than-anticipated first-quarter results. The company achieved earnings per share of $2.16 on revenues of $453.9 million, exceeding analyst expectations of 56 cents per share and $435.6 million in revenue. However, Boston Beer cautioned that tariffs could negatively impact full-year earnings.
Tesla Sees Share Surge Amid Market Recovery
Tesla, led by Elon Musk, surged by 10%, marking a gain of over 17% this week as the broader market begins to recover from a significant sell-off in April.
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