Stocks making the biggest moves midday: CL, TEAM, DECK, VRTX
Check out the companies making headlines in midday trading: Colgate-Palmolive — Shares slipped 4% after the household products company reported fourth-quarter revenue that missed analysts’ expectations and forecast weak 2025 sales given negative effects from foreign exchange rates. KLA Corporation — The stock climbed 2% after the semiconductor company posted a top- and bottom-line beat in the fiscal second quarter. KLA reported adjusted earnings of $8.20 per share on revenue of $3.08 billion. This came above the $7.75 per share and $2.94 billion in revenue that analysts expected, per LSEG. Vertex Pharmaceuticals — The biotech stock jumped 7% after the U.S. Food and Drug Administration approved Vertex Pharmaceuticals’ non-opioid painkiller pill. Vertex is the first drugmaker in decades to get U.S. approval for a new type of pain medicine. Vertex’s new pill is a new alternative for pain relief that comes without the risk of addiction. Deckers Outdoor — The Ugg and Hoka parent tumbled about 17%. Deckers raised its full-year revenue guidance to $4.9 billion, but it fell short of the $4.93 billion expected by analysts polled by LSEG. Fiscal third-quarter results surpassed Wall Street’s estimates on the top and bottom lines, however. AbbVie — Shares of the pharmaceutical company soared 6% after AbbVie beat expectations on the top and bottom lines in the fourth quarter. The company reported adjusted earnings of $2.16 per share, while analysts surveyed by FactSet called for earnings of $2.12 per share. The company also reaffirmed a high single-digit compound annual revenue growth rate through 2029. Atlassian — Shares surged about 16%, hitting a new 52-week high , after the software company posted better-than-expected fiscal second-quarter results. For the period, Atlassian posted adjusted earnings of 96 cents per share on revenue of $1.29 billion. Analysts surveyed by LSEG had anticipated earnings of 76 cents per share and $1.24 billion in revenue. Walgreens Boots Alliance — The struggling pharmacy chain saw shares plunge more than 7% after the company announced it will suspend its quarterly cash dividend. Walgreens said in a press release that it is in the middle of “long-term turnaround efforts” and is aiming to fortify its balance sheet by reducing debt and improving free cash flow. Chevron — The oil giant shed 3.8% after it missed on earnings in the fourth quarter. Chevron reported adjusted earnings of $2.06 per share, while analysts had forecast $2.11 per share, according to LSEG. The weakness was attributed to its refining business, which posted its first loss in four years. Meanwhile, revenue came in at $52.23 billion, topping the consensus call for $46.75 billion. Beazer Homes — Shares lost 16% after Beazer Homes posted fiscal first-quarter earnings that were below consensus expectations. Beazer’s earnings of 10 cents per share missed the 31 cents expected by analysts, per FactSet. Its revenue of $468.9 million exceeded the $464.4 million consensus estimate, however. Eastman Chemical — Shares added 9% after the chemicals company exceeded fourth-quarter estimates, reporting adjusted earnings of $1.87 per share, while analysts polled by FactSet were looking for $1.57 per share. The top end of Eastman’s full-year earnings outlook also surpassed consensus expectations. Palantir Technologies — Shares of the defense tech company popped 4% to reach a new 52-week high. Palantir is slated to report its quarterly results on Monday. Shares are up more than 420% over the past 12 months. — CNBC’s Sean Conlon, Michelle Fox Theobald and Hakyung Kim contributed reporting.
