{"id":29220,"date":"2023-10-24T19:29:40","date_gmt":"2023-10-24T19:29:40","guid":{"rendered":"https:\/\/microloannexus.com\/news\/stocks-making-the-biggest-moves-midday-spotify-coca-cola-draftkings-3m-and-more\/"},"modified":"2023-10-24T19:29:41","modified_gmt":"2023-10-24T19:29:41","slug":"stocks-making-the-biggest-moves-midday-spotify-coca-cola-draftkings-3m-and-more","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=29220","title":{"rendered":"Stocks making the biggest moves midday: Spotify, Coca-Cola, DraftKings, 3M and more"},"content":{"rendered":"<div>\n<div data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\">\n<p><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"xyz-data\">Check out the companies making headlines in midday trading. Spotify \u2014 Shares rallied more than 10% Tuesday after the company posted a surprise profit in the third quarter, its first quarterly profit in more than a year. The company cited cost-cutting measures, including lower market spend and layoffs, as well as increased subscription costs for the profit of $65 million euros. Coca-Cola \u2014 The soda maker climbed 3.1% after exceeding analysts&#8217; expectations in the third quarter. Coca-Cola earned 74 cents per share, adjusted, on revenue of $11.91 billion. Analysts surveyed by LSEG, formerly known as Refinitiv, forecast 69 cents in earnings per share on $11.44 billion in revenue. The company also raised its outlook. DraftKings \u2014 The sports betting stock climbed 5.9% following an upgrade to buy from neutral by MoffettNathanson. The firm said DraftKings has better finances than expected paired with outperforming revenue. General Electric \u2014 The industrial stock popped 7.5% after beating Wall Street expectations on both EPS and revenue for the third quarter. General Electric also raised its full-year guidance, noting increased demand within its aerospace business. 3M \u2014 The conglomerate jumped 5.8% after beating analysts&#8217; expectations in the quarter and raising its earnings outlook. Specifically, 3M said full-year adjusted earnings should come in higher than previously anticipated, due in part to success with restructuring and spending control. Barclays \u2014 U.S-listed shares tumbled 6.4%. The British bank reported a 16% decline in profit in the third quarter, which it attributed in part to lower investment banking revenue. Alphabet , Snap and Microsoft \u2014 The well-known technology stocks rose as investors readied for their earnings reports due after the market closes. Snap climbed more than 3%, while Google parent Alphabet added nearly 2%. Microsoft was up about 0.4%. Coinbase \u2014 A breakout in the price of bitcoin gave a 10% boost to Coinbase and pushed other crypto equities higher Tuesday. Bitcoin proxy Microstrategy gained 12%, while bitcoin miners Marathon Digital and Riot Platforms advanced 14% and 11%, respectively. Other trading platforms got a lift, too, with Robinhood up more than 2% and Block , which operates Cash App, up 3.5%. Redfin \u2014 The real estate stock surged 10.8% a day after Apollo Capital and affiliates agreed to commit as much as $250 million in financing to the real estate brokerage via a loan, according to a filing with the U.S. Securities and Exchange Commission. With the loan, the timing of Redfin&#8217;s debt maturing has been extended into 2028. TrueBlue \u2014 The workforce solutions provider tumbled 22.2% after posting a weak third-quarter report and guidance for the current quarter on Monday. The company missed consensus estimates from analysts polled by FactSet on both lines in the quarter, while fourth-quarter revenue guidance was also lower than expected. Hexcel \u2014 The aerospace stock dropped 5% after Hexcel on Monday missed third-quarter estimates on the top and bottom lines. Hexcel reported adjusted earnings of 38 cents per share on revenue of $419.5 million. Analysts polled by FactSet anticipated earnings of 43 cents per share on revenue of $427.1 million. Agilysys \u2014 Agilysys shares surged 21% in midday trading. The hospitality software developer topped earnings and revenue expectations in its latest quarter, according to FactSet. It also raised its full-year revenue guidance to $235 million to $238 million, greater than prior guidance of $230 million to $235 million. It also exceeded the FactSet consensus estimate of $233.7 million. Braze \u2014 The costumer engagement stock rose 3.4% on the heels of an upgrade to buy from neutral by D.A. Davidson. The firm listed resilient growth and a move to profitability among reasons to be optimistic about the stock, even in a tough spending environment. The Trade Desk \u2014 Shares advanced 3.2% after Loop Capital initiated coverage of the advertising technology stock with a buy rating. Loop said the company has one of the best long-term growth stories for technology and media investors. Planet Fitness \u2014 The gym chain added 3.9% after Baird named the stock a fresh pick. Baird said shares could have &#8220;compelling upside&#8221; if management can improve unit economics to catalyze a re-acceleration in growth starting in 2025. Criteo \u2014 The advertising technology stock traded 4.1% higher after KeyBanc initiated coverage with a buy rating. KeyBanc said the company has made progress in the retail media space that has been overlooked because of other factors. Rio Tinto \u2014 The metal and mining stock climbed 3% following Barclays&#8217; upgrade to overweight from equal weight. The bank said the company&#8217;s shares are at an attractive place. FMC \u2014 The chemical manufacturer shed 4.1% on the back of a downgrade to equal weight from overweight by Morgan Stanley. The bank warned that FMC could see sales growth slow. PVH \u2014 PVH shares popped 4.7% after JPMorgan upgraded the apparel stock to overweight from a neutral rating as the brand focuses on boosting desirability for its Calvin Klein and Tommy Hilfiger brands and implements a slew of &#8220;foundational&#8221; changes. \u2014 CNBC&#8217;s Sarah Min, Samantha Subin, Hakyung Kim and Tanaya Macheel contributed reporting.<\/span><\/span><\/span><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/10\/24\/stocks-making-the-biggest-moves-midday-spot-ko-dkng-mmm-more.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Check out the companies making headlines in midday trading. Spotify \u2014 Shares rallied more than 10% Tuesday after the company posted a surprise profit in the third quarter, its first quarterly profit in more than a year. The company cited cost-cutting measures, including lower market spend and layoffs, as well as increased subscription costs for<\/p>\n","protected":false},"author":1,"featured_media":29221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-29220","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks making the biggest moves midday: Spotify, Coca-Cola, DraftKings, 3M and more | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Check out the companies making headlines in midday trading. 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