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Top Movers of the Day

AInvestFriday, Jul 26, 2024 4:28 pm ET
1min read

Stocks surged Friday after the personal consumption expenditures price index matched expectations, leading to predictions of a September interest-rate cut from the Fed.

Here are the top stock movers:

3M soared 23% to a 52-week high after posting better-than-expected Q2 earnings of $1.93 per share, beating estimates of $1.68. Revenue also exceeded expectations.

Dexcom plummeted 40.7% after missing Q2 revenue expectations and offering weak full-year guidance, reporting $1 billion in revenue versus the $1.04 billion expected.

Coursera surged 44.7% after reporting $170 million in Q2 revenue, beating the $164 million estimate, despite a loss of 15 cents per share, against expectations of 1 cent per share earnings.

Newell Brands jumped 40.5% on Q2 adjusted earnings of 36 cents per share, surpassing the 21 cents estimate, although revenue was slightly below expectations at $2.03 billion versus $2.05 billion.

Deckers Outdoor climbed 6.3% on better-than-expected fiscal Q1 earnings of $4.52 per share and $825 million in revenue, beating estimates of $3.48 per share and $808 million.

Boston Beer rose 7.5% after reaffirming its full-year earnings outlook despite weak Q2 earnings of $4.39 per share on $579 million in revenue, below estimates of $5.02 per share and $597 million.

Mohawk Industries rallied 19.5% on strong Q2 adjusted earnings and cost-cutting initiatives expected to save $100 million annually.

Bristol Myers Squibb surged 11.4% after beating Q2 estimates with earnings of $2.07 per share on $12.20 billion in revenue, exceeding forecasts of $1.63 per share and $11.55 billion. Revenue rose 9%, driven by Eliquis sales.

Norfolk Southern gained 10.9% on Q2 adjusted earnings of $3.06 per share, beating the $2.86 estimate, with revenue in line with expectations.

WW International fell 12.5% after a Morgan Stanley downgrade, citing obesity medications as a long-term headwind.

Charter Communications rose 16.6% on better-than-expected Q2 revenue of $13.69 billion and adjusted EBITDA of $5.67 billion, surpassing forecasts of $13.59 billion and $5.48 billion.

Coinbase gained 4.9% as Bitcoin rose over 4%.

Southwest Airlines slipped 3% after a Deutsche Bank downgrade to hold from buy, following a profit slide in Q2 and major business changes, including eliminating open seating.


Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.