Check out the companies making the biggest moves midday: Cigna — Shares of the health insurance company after management said during an earnings call that it expects its pharmacy benefit services division to face margin pressure in the next few years. Cardinal Health — The drug and medical equipment distributor surged more than 12% on the heels of better-than-expected fiscal first-quarter results. Cardinal Health posted adjusted earnings of $2.55 per share on $64 billion in revenue, above the $2.18 per share and $59 billion in revenue that analysts were estimating, according to LSEG data. Cardinal also raised its full-year earnings guidance. CVS — The pharmacy benefit manager and drug store chain fell more than 4%. Management on its latest quarter earnings call warned that it is “taking a cautious outlook” on its Medicaid state business “in light of the broader pressures across the industry.” CVS also said it expects “modestly lower growth’ in its Caremark PBM business “as we continue our work to transition our contracts towards drug level pricing over the next few years.” Bristol-Myers Squibb — The maker of Opdivo, a cancer immunotherapy treatment, climbed 5% after third-quarter results topped Wall Street and it raised the low end of full-year guidance. The drugmaker now expects to earn $6.40-$6.60 per share excluding one-time items in all of 2025 vs prior guidance of $6.35-$6.65. Perimeter Solutions — The maker of retardant chemicals used to fight wildfires soared 26% after third-quarter EBITDA of $186.3 million topped a single FactSet compiled estimate of $138.5 million. Revenue of $315.4 million exceeded a $238.3 million Street forecast. Viavi Solutions — The network test and equipment manufacturer rallied 20% and hit a 52-week high following its latest financial results. Viavi Solutions’ fiscal first-quarter adjusted earnings was 15 cents a share, topping the 13 cents expected from analysts polled by FactSet. Revenue came in at $299.1 million, beating the $294.3 million consensus estimate. Guidance for the second quarter also exceeded analysts’ expectations. Glaukos — The pharmaceutical company surged 19.7% after posting a third-quarter adjusted loss of 16 cents per share, which was more narrow than the 26 cents analysts polled by FactSet had penciled in. Glaukos’ $133.5 million revenue also beat the estimated $122.4 million. The company also guided for revenue of between $490 million and $495 million for the fiscal year 2025, which was above the $484.5 million consensus forecast. FormFactor — The semiconductor testing company jumped about 23.6% after it reported third-quarter results that beat expectations. FormFactor earned an adjusted 33 cents per share on revenue of $202.7 million. Analysts polled by FactSet expected a profit of 25 cents per share on revenue of $200 million. Terex — The stock fell 18% after the industrial equipment manufacturer posted lower-than-expected revenue for the third quarter. The company reported revenue of $1.39 billion versus a FactSet estimate of $1.41 billion. Net sales in the company’s aerials and materials processing businesses also missed expectations. Metsera — The biotech company rallied more than 24% after it received an unsolicited takeover offer from Novo Nordisk for $77.75 per share. That offer represents a 48.9% premium from Wednesday’s close. Alphabet — The search giant gained 4% after strong results that were boosted by revenue from Google Cloud and YouTube advertising. Alphabet earned $3.10 per share, on an adjusted basis, more than the $2.33 per share expected by analysts polled by LSEG. Revenue of $102.35 billion exceeded the $99.89 billion consensus estimate. Meta Platforms — The Instagram parent slumped more than 9% after raising its capital expenditures outlook to invest more in artificial intelligence. Meta expects to spend between $70 billion and $72 billion, up from previous guidance of $66 billion to $72 billion. The forecast overshadowed better-than-expected earnings and revenue in the third quarter. Microsoft — The Windows and Xbox owner fell 3% after finance chief Amy Hood said capital spending will accelerate this fiscal year. Microsoft posted better-than-expected results in its fiscal first quarter as revenue from its Azure cloud business soared 40%. Eli Lilly — Shares rose 3.5% as the anti-obesity drugmaker posted third-quarter earnings and revenue that topped estimates . Adjusted earnings came in at $7.02 per share versus analysts’ expected $5.69, while revenue was $17.60 billion against analysts’ $16.01 billion, according to FactSet. Lilly hiked its full-year revenue outlook to between $63 billion and $63.5 billion. Carvana — Shares of the e-commerce auto retailer dropped more than 12% after reporting $263 million in net income for the third quarter, beneath the consensus forecast of $309 million from analysts surveyed by FactSet. Quarterly revenue was above where Wall Street expected. FMC — The insecticide and herbicide chemical maker plunged 42% after slashing its quarterly dividend to 8 cents per share from 58 cents, and cutting its earnings and revenue guidance for the fourth quarter and full year. Third-quarter adjusted earnings exceeded expectations, coming in at 89 cents per share versus the 85 cents per share that analysts polled by FactSet estimated. Cleveland-Cliffs — Shares tumbled 11% after the steelmaker said it will sell 75 million shares in a secondary offering to pay down debt. eBay — The online marketplace dropped more than 13% after issuing a disappointing fourth-quarter earnings forecast. Third-quarter results beat on the top and bottom lines, with Ebay earning an adjusted $1.36 per share, more than the $1.33 per share expected by analysts polled by LSEG. Revenue of $2.82 billion also topped the $2.73 billion consensus estimate. Chipotle Mexican Grill — The quick-service Mexican food chain tumbled more than 15% after Chipotle cut its same-store sales forecast for the third straight quarter after a decline in foot traffic. The company now expects fiscal 2025 same-store sales to weaken by a low-single digit percentage rate. Sprouts Farmers Market — Shares plunged 26% after the natural and organic grocery chain reported third-quarter same-store sales and revenue that disappointed estimates compiled by FactSet. Fourth-quarter earnings per share and same-store sales guidance also missed expectations. Align Technology — The dental device maker jumped 6% after posting revenue of $995.7 million, topping analysts’ estimates of $976.4 million, according to FactSet. Align also reported better-than-expected adjusted earnings of $2.61 per share versus estimates of $2.40 per share. C.H. Robinson Worldwide — The logistics company rallied more than 20% on better-than-expected third-quarter earnings. C.H. Robinson earned an adjusted $1.40 per share, beating a StreetAccount-compiled estimate of $1.30 per share, and also authorized an additional $2 billion share buyback. — CNBC’s Sean Conlon, Michelle Fox, Pia Singh, and Liz Napolitano contributed reporting
