Stocks making the biggest moves midday: AMZN, RDDT, PINS, SYY
Check out the companies making headlines in midday trading: Amazon — The e-commerce giant said it would sunset its Fresh and Go brick-and-mortar store, marking a pivot in its grocery strategy . Amazon shares rose more than 1% in midday trading, while shares of rival grocers were lower. Kroger and Albertsons shares were both down about 3%. Micron — The memory and storage stock jumped about 5%, on pace to close at a new closing high, after starting construction of an advanced wafer fabrication facility in an existing NAND manufacturing plant in Singapore. Planned investment totals about $24 billion over 10 years, with wafer output set to start in the second half of 2028. Reddit — The social networking platform dropped 8% after its chief technology officer disclosed the sale late last week of almost $3 million of stock, according to a filing with the Securities and Exchange Commission. Pinterest — The social media platform’s stock fell almost 10% after it announced plans to cut about 15% of its workforce as it puts more resources behind artificial intelligence-focused roles and strategy. Sysco — Shares jumped 9% after the wholesale food products distributor reported an earnings beat and updated its full-year guidance. Sysco is now guiding for full-year earnings to come in at the higher end of its prior range of $4.50 to $4.60 per share. Its fiscal second-quarter earnings were 99 cents per share, versus the 98 cents anticipated from analysts polled by FactSet. Revenue also topped expectations. Roper Technologies — The software stock fell 13% and hit a 52-week low after the company issued weaker-than-expected guidance. Roper’s fourth-quarter revenue also missed expectations. United Parcel Service — The package delivery company gained 3% after reporting fourth-quarter results that beat expectations. UPS also said it would cut an additional 30,000 jobs this year and shutter at least 24 facilities as it winds down its partnership with Amazon. UnitedHealth , Humana , CVS Health — The medical insurance stocks dropped after the Centers for Medicare & Medicaid Services released a proposal to raise 2027 Medicare Advantage payment rates by just 0.09%, far lower than expectations for a 4% to 6% increase, according to FactSet. Shares of UnitedHealth Group and Humana dropped about 20%, each. Shares of CVS Health slid 13%. Corning — The glass manufacturer rallied 16% after CEO Wendell Weeks told CNBC in an exclusive interview that Meta Platforms has committed to paying Corning up to $6 billion through 2030 for fiber-optic cable in its AI data centers. General Motors — The automaker jumped almost 9% after it reported better-than-expected adjusted earnings for the fourth quarter and issued a 2026 outlook that also exceeded analyst forecasts. On top of that, GM increased its quarterly dividend by 20% and announced a $6 billion stock buyback program. American Airlines — The Fort Worth-based airline fell more than 5% after fourth-quarter results fell short of expectations. Still, the airline is projecting strong performance in 2026, seeing first-quarter revenue rising 7% to 10% from the year-ago period. For the full year, adjusted profit is expected to be between $1.70 and $2.70 per share. Nucor — The steel manufacturer is down 2% after an earnings report that missed expectations. The company said fourth-quarter adjusted earnings were $1.73 per share and revenue was $7.69 billion. That’s below the FactSet consensus of $1.91 in earnings per share and $7.91 billion in revenue. Sanmina — The electronics manufacturing services provider slid more than 19% after its latest earnings report. Sanmina posted adjusted earnings of $2.38 per share on revenues of $3.19 billion, though the results were not comparable due to thin coverage. — CNBC’s Itzel Franco, Michelle Fox, Scott Schnipper, Davis Giangiulio, Fred Imbert and Katie Tarasov contributed reporting.
