Midday Stock Market Buzz: GE Vernova, GoPro, Lamb Weston, and More
Exciting things are happening in the stock market. Let’s dive into the companies that are making sizable waves in midday trading.
GE Vernova Leaps as Power Demand Trumps Tariffs
Shares in GE Vernova have made a significant 14% jump. This boost is largely due to strong power demand, which has mitigated the impact of President Trump’s tariffs. Despite tariffs, GE Vernova’s impressive performance in the first half of the year has led the company to raise its full-year guidance. The company predicts that the tariff impact will likely hit on the lower end of their $300 million to $400 million range.
GoPro and Krispy Kreme: The New Reddit Darlings
It appears that Reddit’s retail traders have found fresh game. Shares in GoPro, the wearable camera company, and doughnut giant Krispy Kreme have been pushed up by 21% and 8%, respectively. This surge is potentially a result of a short squeeze, with both stocks carrying high levels of short interest. These two stocks are hot topics on Wall Street Bets, the online forum that famously fueled the GameStop frenzy earlier this year.
Lamb Weston Surges on Q4 Earnings Beat
The producer of everyone’s favorite side dish, Lamb Weston, saw a significant 16% boost after it beat fiscal fourth-quarter earnings and revenue expectations. The company reported adjusted earnings of 87 cents per share on revenue of $1.68 billion, comfortably beating analyst expectations. They also unveiled a new cost-saving program, aiming to achieve at least $250 million in annualized savings by the end of fiscal 2028.
Fiserv and Otis: A Dip on Lowered Guidance
It’s not all good news, though. Fintech company Fiserv saw a sharp 15% drop after they reduced their full-year organic revenue growth forecast to around 10%, down from the previously expected 10% to 12% range. Similarly, elevator maker Otis saw a 10% stock drop after lowering its annual sales forecast due to expected weak demand for new equipment.
Lennox International Boosts Full-Year Earnings Expectations
Lennox International, a climate control solutions provider, saw its shares rise by 9% after it increased its earnings expectations for the year. The company now predicts earnings of $23.25 to $24.25 per share for the year, up from a prior estimate of $22.25 to $23.50 per share.
Texas Instruments, Hilton Worldwide, SAP, and Enphase Energy: Mixed Bag
Chip stock Texas Instruments fell by over 11% following a third-quarter forecast that fell short of expectations, despite reporting second-quarter results that beat revenue and earnings estimates. Hilton Worldwide also slipped by 2% despite exceeding second-quarter earnings and revenue expectations. U.S.-listed shares of enterprise software company SAP fell by over 4% after missing second-quarter revenue estimates. Solar stock Enphase Energy dropped around 15% after issuing a third-quarter revenue forecast that fell short of Wall Street estimates, attributing the shortfall to the impact of tariffs on its gross margin.
This report was contributed by CNBC’s Yun Li, Spencer Kimball, Alex Harring, Lisa Han, and Fred Imbert.
