Welcome to the Extreme Investor Network blog, where we bring you the latest updates and insights on the world of finance. Today, we’re taking a look at some of the top companies making headlines in midday trading.
UnitedHealth, a health-care giant, saw its shares plummet 7.2% after lowering its earnings guidance due to ongoing headwinds from a cyberattack earlier in the year. Despite this, the company still reported a top- and bottom-line beat in the third quarter.
On the flip side, Walgreens Boots Alliance saw its stock soar 11.9% following a fiscal fourth-quarter earnings and revenue beat. The drugstore chain also announced plans to close about 1,200 stores over the next three years, which is expected to be “immediately accretive” to its adjusted earnings and cash flow.
ASML, a Dutch semiconductor equipment maker, experienced a more than 16% drop in its shares after releasing a weaker-than-expected sales outlook for 2025. This news also impacted other chip stocks like Nvidia, Advanced Micro Devices, and Broadcom, which were down at least 4% each.
In more positive news, Wolfspeed, a chipmaker based in North Carolina, saw its shares surge 23% on the announcement that it will receive up to $750 million in U.S. government grants for its new factories. Additionally, a group of investors including Apollo and Baupost will provide an additional $750 million in funding for its expansion plans.
These are just a few of the highlights from today’s midday trading session. Stay tuned to Extreme Investor Network for more updates and insights on the dynamic world of finance.