Check out the companies making headlines for noon deals. Applovin – The mobile ad technology company jumped 11.9% after a first quarter result that beats analyst expectations. Applovin also announced that it will sell its mobile gaming business in a $400 million deal. CARVANA – Stocks rose 10.2% after the online used car market posted first quarter results that were better than expected. ARM Holdings – The US-registered stock of UK chip designers fell 6.2% after the company provided disappointing guidance this quarter. It overshadowed fourth quarter revenue and revenue that beat expectations. KENVUE – Consumer health stocks rose 4.1% shortly after a result that surpassed the company’s forecast in the first quarter. Adjusted revenue was 24 cents per share, exceeding the 23 cents predicted by analysts voted by FactSet. The company’s $3.74 billion revenue is also surpassed by a consensus estimate of $3.688 billion. Mercadolibre – Uruguay-based e-commerce and payments company U.S. List shares rose 6.5% following the company’s first quarter results. Mercadolibre won $9.74 per share with revenue of $5.94 billion. Analysts voted by FactSet had expected a profit of $8.27 per share against revenue of $5.47 billion. Cleveland-Cliffs – Steelmaker stock plummeted 15.8% after first quarter results missed analyst estimates. The company lost 92 cents per share excluding items, but analysts voted by FactSet sought a loss of 82 cents per share. The revenues were also not as expected. Fortinet – Cybersecurity companies have pulled 8.4% back 8.4% due to a lack of guidance for the whole year. The company is expected to reach between $2.43 and $2.49 per share. The midpoint of that range is just below the LSEG consensus estimate of $2.47 per share. Peloton – The digital workout company immersed 6.7% after announcing a sharper loss than planned in the third quarter. Peloton lost 12 cents per share, but analysts voted by LSEG were expecting a loss of 6 cents per share. CROCS – Footwear companies rose 9.8% after reporting bright revenue and revenue for the first quarter. However, the company announced it had withdrawn its year-round guidance “due to macroeconomic uncertainty resulting from global trade policies.” Drug Strains – Stocks of major drugmakers fell after Politico, citing people familiar with the issue. President Donald Trump reported that he plans to pursue a Medicare pricing plan that reduces drug costs. Eli Lilly and Regeneron fell 3.3% and 2.4% respectively, while Abbvie fell 1.3%. Amgen and Bristol Myers also moved more than 1% lower. Shopify – Commerce Technology Platform slid 0.5% after the company’s adjusted operating profit fell below analyst expectations. Warner Bros. Discovery – Media conglomerate stock rose 5.3% after CNBC’s David Faber cited the source and reported that the company was considering separating linear networks from cables. – CNBC’s Alex Hurling, Hakyung Kim and Lisa Kailay Han reported. Amendment: Peloton reported its third quarter financial results. An earlier version misrepresented this quarter.
Noon in stock making the biggest move: App, CVNA, Meri, Crocs
