Stocks making the biggest moves midday: Beyond Meat, Chegg, PNC Financial, Dish & more

Stocks making the biggest moves at midday: Beyond Meat, Chegg, PNC Financial, Dish and more

PNC Financial, Citizens Financial, M&T Bank — Shares of regional banks were under significant pressure Tuesday after Moody's downgraded several smaller institutions. The rating agency also said some larger banks are under review for downgrades. Shares of downgraded M&T Bank and Webster Financial both fell 2%. Citizens and PNC around 3% each after their ratings were reviewed for downgrades. Major banking stocks such as Goldman Sachs and JPMorgan Chase were also lower on the day.

Organon — Shares rise 8% on better-than-expected second-quarter earnings. The healthcare company reported earnings per share of $1.31. Analysts polled by StreetAccount had expected 97 cents a share. Organon reported revenue of $1.61 billion, beating analysts' expectations of $1.57 billion.Beyond Meat - The plant-based meat company fell 16% in midday trading after missing second-quarter sales due to weak US demand. Beyond Meat reported an adjusted loss of 83 cents per share on revenue of $102.1 million, while Refinitiv had forecast 86 cents and $108.4 million.

Chegg - Education technology shares added more than 6%. Chegg reported second-quarter revenue of $183 million, topping the $177 million expected by analysts at Refinitiv. The company also highlighted some plans focused on artificial intelligence, allaying some concerns about the technology's growing threat to Chegg's business model.

Novo Nordisk — Shares of the pharmaceutical surged 18% after new study data showed Wego's Novo Nordisk weight loss drug reduced the risk of major cardiovascular events by 20%.EchoStar, Dish — Shares of Dish rose more than 8% after billionaire Charlie Ergen announced he was consolidating his telecom empire, roughly 15 years after the EchoStar spinoff. EchoStar shares fell less than 1%.Datadog - Shares fell 19% after the software company cut its full-year outlook. The company said it now expects revenue to be between $2.05 billion and $2.06 billion, up from a previous range of $2.08 billion to $2.10 billion.

Eli Lilly — Shares jump 16% after better-than-expected second-quarter earnings. The company reported adjusted earnings of $2.11 per share on revenue of $8.31 billion, while analysts polled by Refinitiv were forecasting earnings per share of $1.98 on revenue of $7.58 billion. Eli Lilly also raised its full-year guidance on strong sales from diabetes treatment Mounjaro and other drugs.

Palantir Technologies — The data analytics company fell 7% after reporting second-quarter results. Palantir reported earnings of 5 cents per share on revenue of $533 million, which was in line with the expectations of analysts polled by Refinitiv.Fox Corp. – The media giant gained 4.2% after reporting revenue that was in line with Street expectations. Fox's second-quarter revenue was $3.03 billion, in line with analysts' expectations in a FactSet poll. The company also increased its semi-annual dividend for Class A and Class B shares.

International Flavors & Fragrances — Shares fell more than 18% on second-quarter results that missed analysts' expectations. The fragrance and cosmetics company reported revenue of $2.93 billion, missing analysts’ estimates of $3.07 billion, according to StreetAccount. The company also lowered its outlook for the coming quarter, citing higher manufacturing absorption costs and lower volume due to customer stockouts.

See Corp. — The packaging company's shares lost 7% after See missed second-quarter revenue expectations. Sealed Air reported revenue of $1.38 billion, citing weakness in its end markets, while analysts polled by FactSet had expected $1.41 billion. The company also cut its earnings and revenue estimates. 

In the fast-moving world of the stock market, noon often brings significant changes in stock prices and market trends. Today we take a closer look at some of the stocks making the biggest moves at midday. From plant protein giants to online education providers and financial institutions, there is a diverse range of companies attracting investor attention.

Beyond Meat, a pioneer in the plant-based protein industry, is back in the spotlight as its stock sees a significant move in midday trading. With growing consumer interest in sustainable and healthier food alternatives, Beyond Meat products have gained significant popularity. Investors are keeping a close eye on any updates on new product launches, partnerships and developments that could affect the company's future growth trajectory.

Chegg, a leading player in the online education sector, is also among the stocks making significant moves today. As the demand for online education solutions continues to grow, Chegg has positioned itself as a platform for students seeking academic help. The midday performance of the company's stock reflects broader trends in the education technology sector, which has seen accelerated growth of late.

PNC Financial, a major player in the financial services industry, is attracting investors' attention with its midday stock move. As the economy undergoes shifts and changes, financial institutions like PNC play a key role in asset management, lending and providing financial advice. Investors are likely to closely monitor a company's performance to assess its ability to navigate an evolving economic environment.

Dish Network, a major player in the telecommunications and media industry, is another stock on the move at noon. With technology and entertainment consumption habits constantly evolving, companies like Dish Network are adapting to new trends and challenges. Whether it's streaming services, satellite TV, or 5G connectivity, the movement of Dish's stock could indicate its strategic decisions and market positioning.

Other significant drivers

In addition to the stocks listed above, there are several other companies making notable moves at midday. These include companies from various industries such as technology, healthcare and consumer goods. Investors are advised to stay informed of the latest developments and news that could affect these stocks and the broader market.

As the midday trading session unfolds, stocks in various sectors are experiencing significant moves that are attracting the attention of investors and analysts alike. From Beyond Meat's innovative approach to food production to Chegg's role in shaping the future of online education, each company's stock movement tells the story of its industry's trends and its own strategic choices. In addition, PNC Financial and Dish Network emphasize the importance of adapting to the changing economic and technological environment. By staying informed about these midday stock movements and the factors that influence them, investors can make more informed decisions about their portfolios.