A look at companies garnering attention in midday trading: Ryanair — Shares fell 15.4% after the low-cost carrier reported weaker-than-expected first-quarter results. The company said it expects quarterly profit after tax to fall 46% and that summer fares will be lower than expected. Crowdstrike — Cybersecurity stocks plunged about 13.5% as investors fully digested Friday’s massive outage that led to the cancellation of thousands of flights. Guggenheim downgraded Crowdstrike shares to “neutral” from “buy” on Sunday, noting that the company may be facing delays in new business, at least in the short term. IQVIA Holdings — Shares soared more than 9.2% after the medical technology company reported better-than-expected second-quarter results. The company had adjusted earnings of $2.64 a share on revenue of $3.81 billion. Analysts surveyed by FactSet had expected earnings of $2.56 per share on revenue of $3.79 billion. Nvidia — Shares rose about 4.8%. Reuters reported Monday, citing sources, that the company is working on a version of its Blackwell chip for the Chinese market. The report added that the new version would comply with current U.S. export controls. Verizon — Shares fell about 6% after the telecommunications company’s quarterly earnings missed expectations. In the second quarter, the company posted sales of $32.8 billion, below the FactSet consensus estimate of $33.05 billion. Adjusted earnings were $1.15 per share, in line with expectations. Tesla — Shares of the electric car maker surged more than 5% ahead of the company’s earnings release on Tuesday. CEO Elon Musk said Monday that the company plans to produce humanoid robots in-house as soon as next year. China EV Stocks — Shares of Chinese EV companies surged after the People’s Bank of China said on the 7th that it would cut reverse repo rates to 1.7% from 1.8%. The one-year loan prime rate was also cut to 3.35%, and the five-year LPR to 3.85%. Following the news, Xpeng rose 6.5%, while Nio and Li Auto rose more than 5% and 4%, respectively. Mattel — The toy maker’s shares surged more than 15%. Reuters reported, citing sources, that private equity firm L Catterton has approached Mattel with a takeover bid. The people stressed that it is not certain that the firm’s approach will encourage Mattel to consider a sale. Semiconductor Stocks — Investors rushed to buy shares of semiconductor makers that had plummeted last week. The VanEck Semiconductor ETF (SMH) rose nearly 4%, trying to recover from last week’s 9.6% drop. ON Semiconductor and KLA Corp. rose more than 6% each, while ASML Holdings Inc. rose more than 5%.—CNBC’s Alex Harring, Hakyung Kim, Lisa Kay-Lai Han and Darla Mercado contributed to this report.
RYAAY, CRWD, IQVIA, etc.
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