Stocks making the biggest moves midday: NKE, SBUX, GEHC
Check out the companies making headlines in midday trading: Etsy — The e-commerce company saw shares tumbling 9%. Etsy Chief Financial Officer Lanny Baker said the company is “staying nimble in the face of uncertainty” around the tariff announcements and “the fluid state of consumer confidence in our core markets. Separately, Etsy posted better-than-expected revenue for the first quarter. Seagate Technology — The data storage stock surged almost 9% after the company posted strong earnings for the fiscal third quarter and offered upbeat current-quarter guidance. Seagate earned $1.90 per share, excluding items, on $2.16 billion in revenue, while analysts surveyed by FactSet anticipated $1.74 per share on $2.12 billion of revenue. Snap — Shares of the tech company lost nearly 15% after Snap declined to provide a forecast , citing macroeconomic uncertainties that could weigh on advertising demand. Snap still reported better-than-expected revenue for the first quarter. Super Micro Computer — The server maker saw its shares plunge more than 14% following weaker-than-expected preliminary results for the fiscal third quarter, which ended on March 31. Super Micro last year struggled with delayed financial filings and short seller reports. Oddity Tech — The beauty retailer and owner of Il Makiage popped 23% after boosting its outlook . For the current fiscal year, Oddity now forecasts revenue between $790 million and $798 million, up from a prior range of between $776 million and $785 million. The company’s fiscal first-quarter results also came in above expectations. Oddity CFO Lindsay Drucker Mann told CNBC that the company has “a lot of offsetting abilities” to manage tariffs. Starbucks — Shares of the coffee chain tumbled nearly 7% after fiscal second-quarter results fell short of estimates on the top and bottom lines. Starbucks reported adjusted earnings of 41 cents per share on $8.76 billion of revenue. Analysts were looking for 49 cents in earnings per share and $8.82 billion in revenue, according to LSEG. The company said it also expected some challenges from tariffs and volatile coffee prices for the rest of its fiscal year. Brinker International — Shares of Brinker International, which owns chains such as Chili’s and Maggiano’s Little Italy, slipped 2%. The decline follows a 15% fall on Tuesday. Even as the company posted a fiscal third-quarter beat and raised its full-year revenue guidance, some investors had sold the stock on fears that Brinker’s growth is unsustainable. Goldman Sachs stuck with its buy rating on the stock. Yum China — Shares slid 7% after Yum China, the fast-food company spun off from Yum Brands, reported lackluster financial results. The company posted first-quarter adjusted earnings of 77 cents per share, topping the 79 cents per share expected by analysts polled by FactSet. Revenue of $2.98 billion came in above the estimated $3.09 billion. GE HealthCare Technologies — The medical technology and pharmaceutical solutions provider rose 4% after GE HealthCare reported better-than-expected first-quarter results. The company posted adjusted earnings of $1.01 per share on revenue of $4.78 billion, while analysts polled by LSEG expected 91 cents per share in earnings and revenue of $4.66 billion. Nike — Shares dipped about 3% after the athletic apparel manufacturer received a downgrade from Wells Fargo to equal weight from overweight. The firm said tariff headwinds and recession risks could contribute material risk to Nike’s earnings. First Solar — Shares of the solar panel manufacturer tumbled 9%. First Solar posted first-quarter earnings per share of $1.95, missing the $2.49 per share analysts polled by LSEG had called for. First Solar also guided for second-quarter and full-year earnings that were below expectations. — CNBC’s Jesse Pound, Michelle Fox Theobald, Alex Harring and Lisa Han contributed reporting.