Here are the companies making significant midday moves: Webtoon Entertainment — Shares surged by 31% after securing a deal to develop a digital comic platform for Disney. Additionally, Webtoon agreed to sell a 2% equity stake to the media giant. Emerson Electric — The engineering firm saw a decline of 4.5%. Management indicated at a JPMorgan conference that fourth-quarter orders are expected to fall within the lower end of their guidance range, attributing this to weaknesses in Europe and China. Hims & Hers Health — The telehealth company experienced a dip of about 7% following a warning letter from the U.S. Food and Drug Administration, which stated that the claims on its website regarding compounded semaglutide products are “false or misleading.” SolarEdge Technologies — The solar storage stock increased by 5.7%. Although the reason for this rise wasn’t clear, Tuesday’s gain brought the stock up over 11% for the week. Steel Dynamics — The metals company rose more than 5% due to better-than-expected third-quarter guidance. Steel Dynamics anticipates earnings per share between $2.60 and $2.64, surpassing a FactSet consensus of $2.58 per share. Dave & Buster’s Entertainment — The entertainment company’s second-quarter earnings fell short of expectations, causing shares to drop by 16%. Adjusted earnings were reported at 40 cents per share, missing the 91 cents anticipated by analysts surveyed by FactSet. Revenue was $557.4 million, compared to the $562.8 million consensus estimate. Novo Nordisk — Shares increased by 3% after Novo Nordisk announced that its experimental once-weekly weight-loss drug, Cagrilintide monotherapy injection, helped patients achieve an 11.8% weight reduction after 68 weeks. Adtran — Shares fell by more than 11% following the fiber networking and telecommunications company’s announcement of a $150 million convertible senior notes offering. Rocket Lab — The rocket company saw a 10% decline in shares after announcing plans to sell up to $500 million worth of common stock. Oscar Health — Oscar Health reported pricing an upsized $355 million in convertible senior subordinated notes in a private offering, leading to a 4% drop in shares. Denny’s — The American diner chain rose as much as 4.2% after investor JCP Investment Management and Jumana Capital disclosed an initial 9.4% stake to engage in discussions with Denny’s management. However, shares were down 4.5% by the end of the day. — Reporting contributed by CNBC’s Sean Conlon, Michelle Fox, Sarah Min, Lisa Han, Alex Harring, Yun Li, and Pia Singh.
Stocks making the biggest moves midday: WBTN, STLD, HIMS
