Stocks making the biggest moves midday: SoFi, McDonald’s, Western Digital, ON Semiconductor and more

by | Oct 30, 2023 | Financial

Check out the companies making headlines in midday trading. SoFi Technologies — Shares seesawed as traders digested the company’s latest quarterly results. SoFi posted a massive third-quarter revenue beat and raised its outlook for the full year. The company reported $531 million in revenue, exceeding an LSEG estimate of $512.1 million. Its revenue was boosted by higher-than-expected student loan originations for the quarterly period, SoFi said. Shares were last down 1%. They were up as much as 14%. McDonald’s — Shares gained 2.3% after the company beat on both top and bottom lines for the third quarter. Global same-store sales grew 8.8% in the quarter, topping analysts’ estimates. Although McDonald’s recorded a dip in U.S. traffic, the company’s U.S. same-store sales rose 8.1%. General Motors , Stellantis — Shares of the two automakers fell slightly Monday as the autoworkers strike appeared to be coming to a close. Stellantis reached a deal with the union on Saturday, while GM made an agreement Monday, sources told CNBC. Shares of Ford , which struck a deal last Wednesday , were down 2%. Spirit Realty Capital — The real estate investment stock popped 6.6% after announcing it would be acquired by Realty Income for $9.3 billion in an all-stock deal. Realty Income shares dr …

Article Attribution | Read More at Article Source

Share This