Stocks making the biggest moves midday: Topgolf Callaway, Insmed, J.M. Smucker, SolarEdge & more
Check out the companies making the biggest moves midday: Topgolf Callaway Brands — The stock popped 5%, adding to its nearly 15% surge in the previous session. Topgolf got a boost on Monday after a director disclosed the purchase of additional shares. Insmed – Shares surged more than 26% after the global biopharmaceutical company announced positive results from a Phase 2b study of treprostinil palmitil inhalation powder, a once-daily treatment for pulmonary arterial hypertension. United Therapeutics , in turn, dropped more than 15%. J.M. Smucker – The food company pulled back 13% after its fiscal fourth-quarter revenue of $2.14 billion missed the FactSet consensus estimate of $2.18 billion. The company’s guidance also missed expectations. Taiwan Semiconductor – U.S.-listed shares of the chipmaker rose more than 1% after its revenue for May increased 39.6% year over year. Revenue for January through May was 42.6% higher than the same period a year ago. SolarEdge , Sunrun — Solar stocks got a boost after The Wall Street Journal reported that a group of major tech companies are lobbying lawmakers to preserve clean energy subsidies, as President Donald Trump’s spending bill goes through the Senate. SolarEdge popped 12%, while Sunrun gained 4%. Separately, UBS hiked its price target on SolarEdge to $20 from $17. Casey’s General Store – The retail stock jumped more than 11% thanks to stronger-than-expected fiscal fourth-quarter results. Casey’s earned $2.63 per share on $3.99 billion in revenue. Analysts expected a profit of $1.94 per share and $3.93 billion in revenue, per FactSet. The company also hiked its dividend by 14%. Apple – The iPhone maker’s stock rose slightly, recovering some of Monday’s losses following its annual Worldwide Developers Conference on Monday. While the company announced a notable software update dubbed Liquid Glass, it failed to reveal any significant artificial intelligence updates, underwhelming investors . Tesla – Shares of the electric vehicle maker advanced more than 3%, adding to Monday’s more than 4% advance. Trump said Monday that he wishes Tesla CEO Elon Musk “well” and has no plans to discontinue Starlink at the White House. The pair had a public feud last week. However, Musk responded to a video of the president’s remarks on X with a heart emoji . Calavo Growers – The avocado distributor plummeted more than 17% after its earnings and revenue for the fiscal second quarter came in weaker than expected. Calavo Growers posted adjusted earnings of 40 cents per share on $190.5 million in revenue. Analysts polled by FactSet were looking for a profit of 53 cents per share and $192.8 million in revenue. McDonald’s – The fast food chain dropped more than 1% after Redburn Atlantic double downgraded the stock to a sell rating on declining foot traffic. The Wall Street firm also cited concerns around GLP-1 obesity drugs, pricing and tempered growth expectations.
