Here’s a look at the companies making headlines in midday trading: UnitedHealth — Shares plummeted 7.2% after the healthcare giant cut its earnings guidance due to ongoing headwinds from a cyberattack earlier this year. UnitedHealth lowered the upper end of its full-year profit forecast, which now ranges from $27.50 to $27.75 per share, compared with previous guidance of $27.50 to $28.00 per share. UnitedHealth’s third-quarter revenue and profit still came in better than expected. Walgreens Boots Alliance — Shares of Walgreens Boots Alliance soared 11.9% after the drugstore chain beat fourth-quarter profit and revenue estimates. Walgreens also plans to close about 1,200 stores over the next three years, which would be “immediately accretive” to its adjusted profits and cash flow, the company said. ASML – Shares of ASML fell more than 16% after the Dutch semiconductor equipment maker released its earnings report ahead of schedule and gave a weaker-than-expected 2025 sales outlook. A more gradual recovery. Other chip stocks also fell, with Nvidia, Advanced Micro Devices and Broadcom each falling at least 4%. Wolfspeed — Shares of Wolfspeed rose 23% on news that the North Carolina-based chip maker will receive up to $750 million in U.S. government grants for its new factories in North Carolina and New York. Investors including Apollo and Baupost will provide an additional $750 million in funding for its more than $6 billion plan. Bank of America — Shares of Bank of America rose 2% as the bank beat analysts’ expectations for third-quarter profit and revenue on better-than-expected trading results. Net interest income, one of the main ways banks make money, fell 2.9% to $14.1 billion, beating StreetAccount’s forecast of $14.06 billion. Enphase Energy — The stock fell 6.8% after RBC Capital Markets downgraded its rating to sector perform from outperform. Enphase should grow slower than consensus forecasts, the company said. Johnson & Johnson reported adjusted earnings of $2.42 per share on revenue of $22.47 billion. Meanwhile, analysts surveyed by LSEG expected earnings of $2.21 per share and revenue of $22.16 billion. The company also raised its guidance for 2024 profits and sales. Energy – Energy stocks fell as oil prices fell about 5%, with the sector last down more than 2%. APA fell the most, down 6%. Diamondback Energy fell 4.3%, while Occidental Petroleum, Valero Energy and Halliburton all fell more than 3%. Coty — Shares of CoverGirl parent company plunged 11% after the company lowered its first-quarter guidance and warned of slowing U.S. growth trends. The bank reported earnings of $1.51 per share on revenue of $20.32 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.31 per share on revenue of $19.48 billion. Charles Schwab — Shares of the brokerage rose more than 8% as third-quarter results beat analysts’ expectations. The company reported a profit of 77 cents, excluding one-time items, on revenue of $4.85 billion. PNC Financial — The Pittsburgh-based regional bank’s shares rose more than 3% on better-than-expected earnings. Earnings per share were $3.49, beating LSEG’s estimate of $3.30 per share. The company reported revenue of $5.43 billion, above expectations of $5.39 billion. Boeing Co. — Shares of Boeing Co. rose about 2.1% after the plane maker said it may raise more than $25 billion in debt and equity to increase liquidity. —CNBC’s Yun Li, Alex Harring, Hakyung Kim, Michelle Fox, Pia Singh and Sarah Min contributed reporting.
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