Shares of real estate technology company Compass (NYSE:COMP) jumped 10.2% in the afternoon session after the company reported record-breaking financial results for its second quarter, outperforming a declining real estate market. The real estate technology company announced its GAAP Net Income grew by 90.3% year-over-year to a record $39.4 million. Compass also expanded its market share to a new high of 6.09%, attracting a record 832 principal agents during the quarter. The company's total transactions surged by 20.9%, a stark contrast to the wider market, which experienced a 0.9% contraction. This performance was underpinned by a 21.1% rise in revenue to $2.06 billion. Following the strong report, a UBS analyst raised the price target on the stock, reflecting renewed confidence.
Shares of biopharmaceutical company Bristol Myers Squibb (NYSE:BMY)
fell 4.2% in the afternoon session after the company lowered its full-year earnings forecast, overshadowing second-quarter results that beat revenue expectations. The drugmaker trimmed its adjusted earnings per share guidance for 2025, attributing the cut to a $0.57 per share charge from a partnership with BioNTech. This charge also hit second-quarter net income, which fell compared to the prior year. Beyond the one-time charge, the company's results revealed underlying weakness, as sales from its older drugs declined 14% due to generic competition. Specifically, revenue from the cancer drug Revlimid plunged 38% year-over-year. Even though Bristol-Myers raised its annual sales forecast, the reduced profit outlook appeared to sour investor sentiment.
Shares of freight delivery company Landstar (NASDAQ:LSTR)
fell 3.3% in the morning session after the company reported second-quarter financial results that revealed a significant drop in year-over-year profitability, leading to several analyst price target cuts.
Shares of online marketplace Etsy (NASDAQ:ETSY)
jumped 5.5% in the morning session after the company reported second-quarter financial results that showed revenue growth despite a drop in gross merchandise sales.
Shares of health coverage company Centene (NYSE:CNC)
fell 3.3% in the morning session after JPMorgan cut its price target on the managed care company to $30 from $48. This move by JPMorgan followed Centene's recent second-quarter earnings report, where the company posted a loss of $0.16 per share, missing analyst estimates. The poor results were largely attributed to a significant reduction in the company's net 2025 Marketplace risk adjustment revenue transfer estimate, an issue that first came to light when Centene withdrew its full-year guidance on July 1st. The company's performance prompted a series of downgrades from Wall Street, with firms like UBS, Wells Fargo, and Morgan Stanley also cutting their price targets, signaling widespread concern over the company's ability to restore its earnings trajectory.
Shares of clinical research company Medpace Holdings (NASDAQ:MEDP)
fell 3.3% in the morning session after UBS downgraded the stock to 'Sell' from 'Neutral', sending shares lower. The investment bank expressed concerns that Medpace's near and mid-term financial targets appeared "overly ambitious" given a weak industry environment. UBS noted that meeting its objectives would require record bookings in the second half of the year, which seemed challenging due to several negative factors. These factors included weak biotech capital markets, fewer clinical trial starts, and muted hiring. The downgrade came despite a slight increase in the firm's price target on the stock to $305 from $300. Recent news of significant stock sales by the company's President and CFO also may have contributed to investor concerns.
Shares of semiconductor packaging and testing company Amkor Technology (NASDAQ:AMKR) jumped 19.3% in the morning session after the company reported strong second-quarter financial results that significantly beat analyst expectations and provided a robust outlook. The semiconductor packaging and test services provider posted earnings per share of $0.22, surpassing the forecasted $0.16. Revenue reached $1.51 billion, which was also ahead of the $1.42 billion consensus estimate. The company noted a 14% sequential increase in sales, with double-digit growth across all its end markets, highlighting strong demand in Artificial Intelligence (AI) and high-performance computing (HPC). In response to the strong quarter and positive guidance, analysts at Needham raised their price target on the stock to $28, while UBS increased its target to $25, with both firms maintaining their Buy ratings.
According to Fiscal.ai data, Wall Street expects the parcel delivery firm to post earnings of $1.57 per share on revenue $20.85 billion for the second quarter.
Shares of clothing and footwear retailer Boot Barn (NYSE:BOOT)
jumped 3.1% in the morning session after analysts at JPMorgan Chase & Co. and Piper Sandler raised their price targets on the stock, signaling confidence in the company's outlook.
Shares of footwear conglomerate Wolverine Worldwide (NYSE:WWW)
jumped 3% in the morning session after analyst firm UBS raised its price target on the footwear company to $30 from $22, while maintaining its Buy rating on the stock. The investment firm pointed to expectations of a robust second quarter for the company. This optimism was reportedly fueled by strong momentum from its Saucony brand and solid performance from the Merrell brand. UBS also forecasted that Wolverine would likely exceed consensus earnings per share (EPS) estimates by 4 cents for the quarter.
JPMorgan maintained its ‘Overweight’ rating on the shares, according to TheFly, and said its fieldwork indicates a strong close to the quarter resulting from steady demand.
Shares of animal health company Elanco (NYSE:ELAN)
jumped 3% in the pre-market session after the company received approval from the European Commission for its canine dermatitis treatment, Zenrelia.
