Stocks making the biggest moves midday: Groupon, Wynn Resorts, Plug Power, Illumina and more

by | Nov 10, 2023 | Financial

Check out the companies making headlines in midday trading. Groupon — Shares plunged 39.5%, a day after the online marketplace company posted third-quarter revenue and global gross billings that fell short of expectations. Separately, it approved an $80 million, fully backstopped rights offering to shareholders. Wynn Resorts — The resort-and-casino stock dropped 7.3% as analysts focused on EBITDAR, which includes restructuring, tied to its operations in Macao. This overshadowed an otherwise strong report, with the company outperforming Wall Street expectations on both lines. Diageo — Shares slid 13.7% after the U.K.-based drink manufacturer forecast a challenging environment ahead. Diageo said growth should slow in the first half of the fiscal year due to softness in Latin America and the Caribbean. Illumina — The beaten-down biotechnology stock plunged 13.6% after it slashed its adjusted earnings guidance for the full year to a range of 60 cents to 70 cents per share. Analysts had estimated 80 cents per share, according to LSEG, formerly known as Refinitiv. Illumina’s revenue also came out lower than analysts’ estimates, although the company had beat on adjusted earnings per share in the third quarter. Plug Power — Shares of the clean energy company tumbled more than 34%, reaching a new 52-week low, after third-quarter earnings and revenue missed analysts’ estimates. RBC and JPMorgan downgraded shares on the …

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