Stocks making the biggest moves midday: DIS, DXCM, MCD, ON

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Stocks making the biggest moves midday: DIS, DXCM, MCD, ON

Check out the companies making headlines in midday trading. McDonald’s — McDonald’s shares jumped more than 4% even after the fast-food giant posted quarterly earnings and revenue that fell short of Wall Street’s estimates. The company also reported a decline in same-store sales. Revvity — The life sciences company advanced 6% after posting a second-quarter earnings beat. Revvity’s adjusted earnings of $1.22 per share topped the FactSet estimate of $1.12 per share. The company’s revenue of $691.7 million was also higher than the $690.3 million analysts had expected. Akamai Technologies — Shares of the cloud security firm gained 1% following an upgrade to buy from neutral at Guggenheim. The investment firm sees a 32% upside as Akamai leverages its leadership position to provide more value for its customers. Tesla — The electric vehicle maker added 4.2% after getting crowned the top pick among U.S. auto stocks by Morgan Stanley analyst Adam Jonas. Tesla replaced Ford, whose shares slid around 2%. Stellantis — The automaker fell around 4.5%, hitting a new 52-week low, after Deutsche Bank downgraded the stock to hold from buy. The firm sees the company’s guidance at risk, citing an inability in a “tougher” environment to tackle key issues like inventory, pricing and lack of model age when compared to its peers. Walt Disney — Shares of the entertainment giant gained 2% after a big box office debut for “Deadpool & Wolverine.” The new Marvel movie topped $200 million at the domestic box office, a record opening weekend for an R-rated film. On Semiconductor — Shares jumped nearly 13% after the chip company reported financial results that topped expectations. Second-quarter adjusted earnings per share came in at 96 cents, versus the 92 cents expected consensus estimate, per FactSet. Revenue was $1.74 billion, versus the $1.73 billion expected from analysts. DexCom — Shares of the diabetes company were trading 5% higher, recouping some of their losses from Friday. The stock was pushed higher after DexCom announced its latest insulin pump software had been authorized for ***** by Health Canada. The stock plunged more than 40% in the previous session after DexCom reported disappointing second-quarter results and offered weak guidance. — CNBC’s Sean Conlon, Michelle Fox, Alex Harring, Jesse Pound and Samantha Subin contributed reporting.

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