Midday Market Movements: Key Stocks on the Rise and Fall
- Hasbro shares rose over 5% after strong Q3 results and an increased revenue outlook.
- Equifax saw a nearly 12% jump following better-than-expected earnings, despite cutting 2026 revenue guidance.
- General Motors shares fell nearly 7% despite reporting Q3 results above expectations and announcing a $20 billion stock buyback program.
Several companies experienced significant stock movements during midday trading. Hasbro’s shares gained more than 5% following the toy manufacturer’s announcement of better-than-expected third-quarter results, along with a raised revenue growth outlook for the full year.
Northrop Grumman also saw a nearly 5% increase in share value after reporting earnings of $7.89 per share for the third quarter, surpassing the LSEG estimate of $7.18. However, its revenue of $11.12 billion fell slightly short of the $11.14 billion consensus.
Equifax’s stock surged nearly 12% as the consumer credit bureau reported adjusted earnings of $2.26 per share, exceeding the FactSet consensus of $2.20. Nonetheless, the company revised its revenue guidance downwards for 2026, despite revenue of $1.69 billion meeting expectations.
Dream Finders Homes shares rose over 8% after the homebuilder completed the acquisition of Beazer Homes, an announcement made on August 7. Arcus Biosciences also gained more than 8% after releasing data from its trial of casdatifan, a treatment for a specific kidney cancer, indicating broad patient benefits across therapy lines.
Conversely, General Motors’ stock declined nearly 7%, despite the automaker reporting third-quarter results that surpassed analyst expectations. GM raised its free cash flow outlook and narrowed its full-year guidance for 2026 while announcing a new $20 billion stock buyback program without a specified timeline for the repurchase.
Shares of GE Aerospace fell 4% despite the company increasing its full-year guidance for 2026. However, their free cash flow of $2.04 billion was below the anticipated $2.2 billion, as reported by StreetAccount. Meanwhile, 3M shares climbed 5% after reporting adjusted earnings of $2.50 per share, exceeding the LSEG estimate of $2.38.
Steel Dynamics saw a 1.5% drop in shares after delivering mixed third-quarter results, where revenue exceeded expectations, but earnings per share and profit margins did not. On a positive note, the company’s customer backlog rose 50% year over year, extending into 2027 due to strong demand.
Finally, Solstice Advanced Materials shares increased by 4% following a report from The Financial Times that activist investor Starboard Value had acquired a stake in the company.
News Courtesy of CNBC
