Midday movers: Palantir, Uber, Kenvue rise; Vulcan Materials falls

(Updated - August 6, 2024 12:30 PM EDT)

Investing.com -- U.S. stock futures rose Tuesday, rebounding after the previous session recession-inspired sharp losses.

Here are some of the biggest U.S. stock movers today:

• Palantir (NYSE: PLTR) stock rose 13% after the software services provider raised its annual revenue and profit forecast for the second time this year.

• Caterpillar (NYSE: CAT) stock rose 4% after the industrial giant reported a rise in quarterly adjusted profit, lifted by resilient demand for its larger excavators and other construction equipment against the backdrop of increased infrastructure spending in the U.S.

• Uber (NYSE: UBER) stock rose 10% as the ride-hailing firm beat estimates for second-quarter revenue and core profit, helped by steady demand for its ride-sharing and food-delivery services.

• Yum! Brands (NYSE: YUM) stock rose 4% despite the fast food giant, which includes Taco Bell and KFC, reporting a bigger-than-expected fall in same-store sales for the second quarter as sticky inflation discouraged lower-income Americans from dining out.

• Alphabet (NASDAQ: GOOGL) stock rose 0.1%, helped by the overall positive tone even as the tech giant lost its legal battle against the Department of Justice, with its Google unit being deemed a monopoly.

• Lucid Group (NASDAQ: LCID) stock rallied over 2% on better-than-expected revenue in the second quarter and after the EV manufacturer announced that its largest shareholder, Saudi Arabia’s Public Investment Fund (PIF), will invest up to $1.5 billion in cash.

• CrowdStrike (NASDAQ: CRWD) stock rose 3.5% after brokerage Piper Sandler raised its rating on the cybersecurity company to ‘overweight’ from ‘neutral’, saying the ramifications of the recent outage event will likely be short-lived and at negligible cost.

• Kenvue (NYSE: KVUE) stock rose 14% after the consumer health company beat estimates for second-quarter profit and revenue, helped primarily by better-than-expected sales in its essential health products unit that sells brands including Band-Aid, Listerine and Carefree.

• Vulcan Materials (NYSE: VMC) fell 3% after the construction aggregates produce lowering its guidance for full year operating profit.

• FIS (NYSE: FIS) rose 6% after beating second quarter EPS estimates and raising full year guidance. Management said results reflect the continued positive momentum of the business.

Additional reporting by Louis Juricic

You May Also Be Interested In

• Pelican Way Research shorts Hyliion Holdings (HYLN) on VFG deal concerns
• Hyliion Holdings (HYLN) call put ratio 6.3 calls to 1 put with a focus on July 5, 8 and 15 calls as share price down 7.1%
• Over 6 million children enrolled in Trump Accounts program