In midday trading, several companies were making headlines due to various market activities and announcements. McDonald’s saw a decline of more than 5% following a statement from the U.S. Centers for Disease Control and Prevention, which linked an E. coli outbreak to the chain’s Quarter Pounder burgers. This outbreak resulted in 10 hospitalizations and one death.
Walmart’s stock increased by almost 1%, reaching a new all-time high despite a general downtrend in the broader market. The retailer’s shares have outpaced the S&P 500, climbing by 57% this year compared to the index’s nearly 22% rise.
Boeing’s stock fell nearly 3% after reporting its largest quarterly loss since 2020, with a third-quarter loss exceeding $6 billion, including more than $4 billion from its commercial airplane sector.
Qualcomm experienced a decline of nearly 3% after reports from Bloomberg suggested that British chip designer Arm Holdings intended to cancel its license agreement with the company. Arm Holdings’ shares also decreased by 6%.
Stride’s stock surged by more than 33% following the announcement of its fiscal first-quarter results, which included a net income of $40.9 million and revenue of $551.1 million. This marked a significant increase from the previous year’s figures of $4.9 million in net income and $480.2 million in revenue.
Hilton Worldwide Holdings saw a drop of 2.7% after reporting third-quarter revenue of $2.87 billion, falling short of the $2.91 billion expected by analysts. However, Hilton exceeded forecasts with adjusted earnings of $1.92 per share but offered weak guidance for the current quarter.
Spirit Airlines’ shares rose by 35% following a report in The Wall Street Journal indicating that Frontier Airlines is seeking to renew a bid for Spirit.
Enphase Energy experienced a 13% decline after posting weaker-than-expected earnings. The company reported adjusted earnings of 65 cents per share on $380.9 million in revenue, below the predictions of 77 cents per share and $392 million by analysts. Enphase’s fourth-quarter revenue guidance also fell short of expectations.
AT&T’s shares increased by 4% after reporting third-quarter earnings that exceeded analysts’ estimates, with adjusted earnings of 60 cents per share compared to the expected 57 cents, although revenue missed Wall Street’s forecast.
Texas Instruments gained more than 3% after beating analysts’ forecasts in the third quarter, reporting earnings of $1.47 per share and revenue of $4.15 billion, surpassing estimates of $1.38 per share and $4.12 billion in revenue.
Coca-Cola’s stock fell by 2% following the company’s announcement that currency headwinds are expected to impact its results next year. Nevertheless, Coca-Cola exceeded analysts’ estimates for the third quarter.
Seagate Technology’s shares declined by about 8% despite issuing revenue guidance for the fiscal second quarter that was in line with expectations. The company projected current-quarter earnings of $1.85 per share, above the expected $1.72 per share.
Winnebago Industries’ shares dropped nearly 9% after reporting fiscal fourth-quarter adjusted earnings of 28 cents per share, missing analysts’ forecast of 89 cents per share, according to FactSet.
