Welcome to Extreme Investor Network, where we bring you the latest news and updates on the companies making headlines in the finance world. Today, we are diving into the midday trading action and highlighting some key movements in the market.
McDonald’s saw a nearly 4% jump in its shares, despite posting quarterly earnings and revenue that fell short of Wall Street’s estimates. The fast-food giant’s strategy of utilizing $5 value meals to attract low-income customers seems to be paying off and improving sentiment around the brand’s value and affordability.
Revvity, a life sciences company, advanced 9% after reporting a second-quarter earnings beat. With adjusted earnings and revenue surpassing analyst expectations, Revvity is making waves in the industry.
Cloud security firm Akamai Technologies saw a 0.4% gain following an upgrade to buy from neutral at Guggenheim. The investment firm projects a 32% upside for Akamai as it leverages its leadership position to provide more value for its customers.
In the electric vehicle sector, Tesla took the spotlight with a 6% increase after being crowned the top pick among U.S. auto stocks by Morgan Stanley analyst Adam Jonas. Tesla’s rise replaced Ford, which saw a 2% decline.
Stellantis, the automaker, fell around 4% to hit a new 52-week low after a downgrade from Deutsche Bank to hold from buy. Concerns over the company’s guidance and ability to address key issues like inventory and pricing weighed on investor sentiment.
Disney’s shares gained 2.5% following the successful box office debut of “Deadpool & Wolverine,” which set a record for the highest opening weekend for an R-rated film. The entertainment giant continues to captivate audiences.
On Semiconductor saw a nearly 12% increase in its shares after reporting financial results that exceeded expectations. With adjusted earnings and revenue surpassing analyst estimates, On Semiconductor is on a positive trajectory.
Lastly, Dexcom’s shares closed 5% higher after news that Tandem Diabetes Care’s updated insulin pump software is compatible with Dexcom’s continuous glucose monitoring systems. This compatibility update and authorization for sale by Health Canada helped Dexcom recover losses from the previous session.
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