Check out the companies making the biggest moves midday: Rogers — The maker of circuit materials surged 10% on better-than-expected earnings guidance. The company sees full-year earnings around $3.80 per share, excluding certain items, above a FactSet consensus of $3.65 per share. Liquidia, United Therapeutics — The U.S.
District Court in Delaware found Liquidia infringed on a United Therapeutics patent, according to StreetAccount. The court also denied a motion to strike United's challenge to prior art status of another patent. Liquidia shares plunged about 25% on the news before trading was halted on the name. United Therapeutics, meanwhile, surged 15%.
Jabil — The electronics maker fell more than 7% even after reporting fiscal fourth-quarter results that beat the Street. Jabil earned $4.40 per share on an adjusted basis and posted revenue of $10.62 billion. Analysts polled by LSEG expected a profit of $4.07 per share on revenue of $9.71 billion. First-quarter and fiscal year earnings guidance also exceeded estimates.
Concentrix — The stock rose 5% after it reported adjusted earnings in the fiscal third quarter that came in above expectations. Non-GAAP earnings per share and revenue guidance for the current quarter were also below estimates, according to analysts polled by FactSet, and the company said on its earnings conference call that its AI transition is putting pressure on revenues.
Moderna — The pharmaceutical company declined 7% after Citi downgraded the stock to sell. Analysts at the bank have a price target that is 60% below the stock's closing price on Tuesday, and they said the stock's current valuation can't be justified. FormFactor — Shares were higher by 8% after Deutsche Bank initiated coverage of the semiconductor testing company with a buy rating.
Analysts said that the company is levered to rising chip testing intensity, and that it's benefiting as FormFactor has cemented itself as "the second source of probe cards for Nvidia's GPUs at TSMC." Cal-Maine Foods — The egg producer slid 2% after it reported a wider-than-expected loss in its fiscal first-quarter earnings report.
The company lost $1.26 per share, compared to analysts polled by FactSet's expectation for a loss of 77 cents per share