Check out the companies making the biggest moves in midday trading: Crocs — Shares tumbled more than 10% despite the shoemaker beating fiscal second-quarter expectations and raising its fiscal year forecast. The company’s second-quarter margins were weaker than expected, and estimates for the third quarter were also light. Year to date, Crocs stock has gained more than 16%. Microsoft — Shares jumped 15% after the tech giant reported quarterly revenue of $90.01 billion, topping estimates of $87.62 billion, per LSEG. Azure growth of 43% at constant currency beat StreetAccount estimates of 40.2% growth. The company also said Azure revenue in the 2026 fiscal year surpassed $100 billion for the first time. Meta Platforms — Shares tumbled more than 9% after the company posted earnings per share of $6.18 for the latest quarter, missing analysts’ estimates by $1.04 per share, according to LSEG. It also forecast third-quarter revenue between $61 billion and $64 billion, the lower end of which is lighter than the $63.15 billion estimated by analysts. MarketAxess — Shares jumped 30% after New York Stock Exchange-parent Intercontinental Exchange agreed to buy the bond trading platform for $167 per share, or more than $5 billion. The cash deal represents a premium of nearly 33% from Wednesday’s close, and it’s expected to be completed in the first half of 2027. Quanta Services — Shares jumped nearly 15% after Quanta Services beat FactSet consensus on revenue and earnings. The provider of infrastructure solutions also increased its guidance for full-year adjusted earnings per share, revenue and adjusted EBITDA. Yum Brands — The Taco Bell owner’s stock rose 4% after management outlined a plan to recover from the impact of the cyclosporiasis outbreak on its results. The company’s same-store sales fell 2% in the U.S. so far this quarter, but the company said trends were improving. The multistate outbreak has been linked to some iceberg lettuce served at its locations. Fair Isaac — The FICO credit score developer’s stock plunged more than 16% on mixed results for the fiscal third quarter. While earnings beat a FactSet consensus estimate, revenue came in just below expectations. The lack of a timeline on when the company’s direct license program will launch also put pressure on the stock. “With respect to the DLP, not a lot of new news. We’re literally waiting on certification from one of the [government-sponsored enterprises] so that we can go live,” said CEO William Lansing in a conference call. C.H. Robinson Worldwide — The logistics provider’s stock plunged 15% after North American Surface Transportation adjusted gross margin in the latest quarter narrowed to 13.1% compared with a consensus estimate of 14.7% among analysts surveyed by FactSet. Cash from operations of $35.9 million trailed a consensus forecast of $141.1 million. PBF Energy — The oil refiner’s stock jumped more than 15% to an all-time high after second-quarter gross margin per barrel of $23.40 topped analysts’ consensus estimate $19.11, according to FactSet data. Cash from operations totaled $1.59 billion against a Street forecast of $901 million, and capital spending was far below what analysts had expected. Teladoc Health — Shares plunged 29% after the virtual healthcare services company’s second-quarter revenue fell short of expectations. Teladoc reported revenue of $606.9 million, compared with the $615.4 million expected from analysts polled by FactSet. It also lowered its full-year revenue guidance. Norwegian Cruise Line — The cruise operator cut its full-year forecast, sending shares down 7%. Norwegian Cruise Line now expects full-year earnings of $1.50 per share, versus its prior guidance of $1.45 to $1.79 per share. Analysts had expected earnings per share guidance of $1.66, per FactSet. Bristol Myers Squibb — Shares added more than 1% following the biopharmaceutical company’s beat on the top and bottom lines. Bristol Myers Squibb saw second-quarter adjusted earnings of $2.04 per share on revenue of $12.97 billion. Analysts polled by LSEG had expected EPS of $1.59 on revenue of $11.75 billion. Starbucks — The coffee retailer saw its shares gain 3% after raising its full-year outlook and reporting growth in same-store sales of 7.9%. Earnings came in at 85 cents per share on an adjusted basis, beating analysts’ estimates of 66 cents per share, according to LSEG. Starbucks reported $9.32 billion in revenue for the quarter, versus $9.16 billion expected. Carvana — The online used-car retailer’s shares fell 12% after the company’s full-year earnings guidance of between $2.7 billion and $3 billion missed Wall Street’s expectations. Estimates included forecasts of $3 billion to $3.2 billion from Deutsche Bank and $4.45 billion from Morgan Stanley. Chipotle Mexican Grill — The burrito chain’s shares rose 13% as the company’s quarterly earnings showed a beat on the top and bottom lines. Chipotle also forecast same-store sales for the full year will increase by a low-single-digit percentage, which is higher than its previous outlook of flat same-store sales for the year. Lam Research — Shares of the semiconductor equipment manufacturer climbed more than 18% on the back of better-than-expected fiscal fourth-quarter results. Lam earned $1.82 per share, excluding items, on revenue of $6.72 billion. Qualcomm — The chipmaker saw its shares fall 3% on mixed quarterly results. Adjusted earnings of $2.21 per share were slightly off the analyst estimate of $2.23 per share, according to LSEG. Revenue of $9.95 billion beat the estimate of $9.67 billion. Align Technology — The Invisalign maker’s shares fell almost 3% after the company reported quarterly earnings and revenue that just narrowly beat analysts’ estimates, per FactSet. The lower end of the company’s third-quarter revenue guidance, between $1 billion and $1.02 billion, was lighter than the $1.02 billion analysts estimated. Baxter International — Shares popped roughly 16% on the back of the medical technology company’s latest results. Baxter posted adjusted earnings of 56 cents per share, topping the 37 cents expected from analysts polled by FactSet. Revenue came in at $2.96 billion, versus the $2.08 billion consensus estimate. The company also raised its full-year guidance for EPS and revenue growth. Cigna — Shares shed 3% following the health insurer’s second-quarter earnings report. Cigna posted adjusted earnings of $7.78 per share on revenue of $71.67 billion. Analysts polled by LSEG had expected EPS of $7.60 on revenue of $70.34 billion. While the company raised its full-year adjusted EPS guidance by 10 cents, it was in line with expectations, per FactSet. Altria — The tobacco giant’s stock lost 8% after second-quarter adjusted earnings came in at $1.48 per share, missing the FactSet consensus forecast of $1.50 per share. The company also boosted its 2026 capital expenditures to between $375 million and $450 million. It previously anticipated capex of $300 million to $375 million. Sirius XM — Shares fell 5% on the back of the satellite radio provider’s earnings miss. The company posted EPS of 70 cents, versus the 78 cents expected from analysts polled by FactSet. — CNBC’s Scott Schnipper, Fred Imbert, Tanaya Macheel, Christina Cheddar Berk and Ananya Chetia contributed reporting
