Stocks Surge and Slide in Midday Trading: Key Players In Focus

NEW YORK, NY — Stocks showed significant volatility in midday trading as several companies reported earnings and made major announcements. AeroVironment, a defense contractor, experienced a notable rally, climbing 21.6% after it reported better-than-expected results for its fiscal fourth quarter.

AeroVironment earned $1.61 per share, excluding certain items, with revenue reaching $275.1 million. Analysts, according to FactSet, had anticipated a profit of $1.38 per share on revenue of $241.5 million. The company also provided a fiscal 2026 revenue forecast that surpassed estimates.

Bumble, an online dating service, surged by 25% after announcing a plan to reduce its workforce by 30%. This move is expected to save the company $40 million annually, with most savings to be reinvested. Bumble also increased its revenue guidance for the current quarter, projecting between $244 million and $249 million, up from previous estimates of $235 million to $243 million.

On the other hand, SiTime, a fabless chipmaker, saw its shares drop by 15.7% following a filing for a $350 million common stock offering. Worthington Enterprises also reported strong results, with stock rising 2% and hitting a 52-week high after exceeding financial expectations.

Yum Brands, the parent company of KFC, Taco Bell, and Pizza Hut, saw a more than 3% rise in its stock value after JPMorgan upgraded it to overweight from neutral, citing strong cash flow as a potential driver for growth.

In contrast, shares of Paychex fell more than 9% after the company’s quarterly results disappointed investors, posting adjusted earnings in line with expectations but falling short on operating income.

Cybersecurity firm BlackBerry experienced a 12% increase after reporting first-quarter figures that beat analysts’ expectations and raising its full-year guidance.

Meanwhile, BP‘s shares rose more than 1% after a Wall Street Journal report suggested Shell was in talks to acquire BP for around $80 billion. However, Shell later denied any negotiations were happening.

FedEx shares fell by 3.3% after it issued a weaker-than-expected earnings forecast for the current quarter. Flagstar, a regional bank, dropped nearly 4% after the Democratic primary victory of Zohran Mamdani in New York City. Mamdani’s campaign included proposals to freeze rent for regulated housing, which concerns Flagstar due to its loan exposure in the area.

Lastly, QuantumScape saw its shares soar more than 30% following an announcement about integrating its Cobra separator process into battery production, which aims to enhance efficiency and speed.