Midday movers: Expedia, Lilly rise; Array, Elf Beauty fall
Investing.com -- U.S. stock futures were unchanged Friday, consolidating the previous day's gains after solid labor market data suggesting a U.S. recession was unlikely.
Here are some of the biggest U.S. stock movers today:
Paramount Global (NASDAQ: PARA) stock rose 0.3% after the entertainment company beat profit expectations, with its streaming business reporting its first quarterly profit in three years, while announcing it would cut 15% of its U.S. workforce as it attempts to cut costs.
Expedia (NASDAQ: EXPE) stock surged over 9% after the online travel company beat quarterly expectations even after it warned of a softening in travel demand in July.
Nvidia (NASDAQ: NVDA) stock fell 0.9%, with the chipmaker’s upcoming earnings report likely to be the next key catalyst for Big Tech stocks, according to Barclays strategists.
Array Technologies (NASDAQ: ARRY) stock slid 24% after the solar energy technology maker lowered its annual guidance.
ELF Beauty (NYSE: ELF) stock slipped 16% after the cosmetics company issued cautious guidance even as it raised annual sales and profit forecasts after topping first-quarter estimates.
SoundHound AI (NASDAQ: SOUN) stock fell 3.6% despite the artificial intelligence voice provider beating estimates for second-quarter revenue and raising its full-year revenue forecast.
Take-Two (NASDAQ: TTWO) stock climbed 3% as it expects net bookings to grow in fiscal years 2026 and 2027, as the videogame publisher gears up for the launch of its long-awaited "Grand Theft Auto VI" next year.
Walt Disney (NYSE: DIS) stock rose fell 0.9% ahead of its D23 fan convention later Friday, at which the entertainment giant is set to announce details of coming films.
Doximity (NYSE: DOCS) stock rose 32% after the digital platform for medical professionals reported fiscal first-quarter results that exceeded analyst expectations and provided an upbeat outlook.
Akamai Technologies (NASDAQ: AKAM) stock rose 11% after the cloud computing company reported better than expected quarterly results, with revenues passing the billion-dollar mark in the third quarter.
Eli Lilly & Co. (NYSE: LLY) rose 6%, extending gains following its recent earnings report, as analysts increased their price target on the stock.
The Trade Desk Inc. (NASDAQ: TTD) rose 8% after delivering solid results in the second quarter, along with strong guidance. Analysts were impressed by the ad tech company's ability to execute.
Additional reporting by Louis Juricic