U.S. midday trading highlights earnings beats, crypto gains and Utz buyout surge

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Midday trading highlights earnings, crypto, Utz

Highlights

Genuine Parts drops nearly 3% after denying transaction talks, while O’Reilly Automotive gains almost 4% on earlier Bloomberg acquisition rumors.
Utz Brands soars about 90% after agreeing to a $14.25 per share cash buyout by Germany's Intersnack Group, with deal closing expected in Q4.
Roundhill Memory ETF jumps 11% as Micron Technology, Western Digital, and Seagate Technology each gain about 12% ahead of AI-related tech earnings.

Corporate updates drive major share swings

As reported by CNBC, a broad set of individual stocks is moving sharply at midday as companies release earnings, update guidance and respond to merger speculation.

Genuine Parts falls nearly 3% after management says it is not in talks with any competitor about a potential transaction. Earlier this month, Bloomberg News reported, citing people familiar with the matter, that O’Reilly Automotive was interested in acquiring Genuine Parts' auto parts business; O’Reilly is last up nearly 4%.

Equifax drops 7% after issuing third-quarter guidance below Wall Street expectations, calling for adjusted earnings of $2.15 to $2.25 per share on revenue of $1.68 billion to $1.71 billion. FactSet consensus anticipates earnings of $2.26 per share and revenue of $1.71 billion.

Hasbro rises 7% after reporting a second-quarter earnings and revenue beat and lifting its full-year 2026 adjusted EBITDA guidance. The company says growth is led by Magic: The Gathering, with quarterly revenue exceeding $500 million for the first time in the product's more than 30-year history.

MSCI tumbles 9% after posting second-quarter results below expectations, earning an adjusted $4.94 per share on revenue of $867 million, versus StreetAccount estimates of $4.99 per share and $870.7 million in revenue. Novartis adds 2% after the Swiss drugmaker reports second-quarter core earnings and revenue above expectations and says it remains on track to meet its full-year guidance and midterm outlook.

General Motors gains more than 5% after reporting adjusted earnings of $3.57 per share on revenue of $48.03 billion, ahead of LSEG expectations for $3.20 per share on $47.01 billion. Danaher falls 13% after forecasting third-quarter core revenue growth of 2% to 3% and cutting full-year non-GAAP core revenue guidance to 3% to 4% from 3% to 6%, even as second-quarter earnings and revenue top estimates, according to FactSet data.

3M jumps more than 8% after posting second-quarter adjusted earnings and revenue above expectations and raising full-year guidance. Crown Holdings climbs more than 5% after reporting second-quarter earnings of $2.49 per share, excluding items, on revenue of $3.67 billion, ahead of FactSet expectations for $2.16 per share and $3.37 billion in revenue, while Steel Dynamics rises 3% after an earnings beat despite recording an additional non-cash impairment charge of $16 million.

Utz Brands soars about 90% after agreeing to a buyout by Germany's Intersnack Group for $14.25 a share in cash. The deal is expected to close in the fourth quarter, subject to regulatory approval.

AI, chips and crypto stocks gain momentum

Technology- and digital-asset-linked names are also leading midday moves as investors position around artificial intelligence demand, chip pricing and bitcoin's rebound.

Memory chip stocks rally ahead of key technology reports due later this week that are expected to offer signals on the state of the AI trade. The Roundhill Memory ETF, ticker DRAM, jumps 11%, while Micron Technology, Western Digital and Seagate Technology each add about 12%.

Coinbase Global rises almost 12% and Robinhood gains 9% as bitcoin touches its highest level since June 16. Bitcoin miner TeraWulf also advances 8% as the move lifts broader crypto-related equities.

Nebius Group climbs 15% after Nvidia discloses a 9.3% stake in the Amsterdam-based AI cloud company, which has developed into one of Europe's leading neocloud providers of AI compute. Taiwan Semiconductor Manufacturing gains almost 5% after Nikkei Asia reports, citing sources, that the foundry plans to raise chipmaking service prices by up to 10% next year.

In our earlier article on Coinbase (COIN) technical outlook, we noted the stock had climbed into a strong short- to medium-term bullish setup, trading above key moving averages while flashing overbought readings. The analysis highlighted a likely consolidation range of roughly $160.92–$184.51, with support near $166.57 and a key breakout level at $184.51 that could signal further upside if cleared.

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