U.S. midday movers highlight gains in Rogers, court-driven swings in Liquidia and United Therapeutics

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U.S. midday movers and swings

Highlights

Liquidia plunges about 25% and United Therapeutics jumps 15% after a U.S. District Court finds Liquidia infringes on United's patent.
Rogers rises 10% after providing full-year earnings guidance of about $3.80 per share, exceeding the FactSet consensus of $3.65 per share.
Moderna drops 7% as Citi downgrades the stock to sell and sets a price target 60% below Tuesday’s closing price, citing unjustified valuation.

Earnings, ratings and court ruling drive intraday moves

As reported by CNBC, citing StreetAccount, a U.S. District Court in Delaware finds that Liquidia infringes on a United Therapeutics patent and also denies a motion to strike United’s challenge to the prior art status of another patent. Liquidia shares plunge about 25% before trading is halted, while United Therapeutics jumps 15%.

Rogers climbs 10% after the circuit materials maker issues better-than-expected earnings guidance. The company says it sees full-year earnings of about $3.80 per share, excluding certain items, above a FactSet consensus of $3.65 per share.

Moderna falls 7% after Citi downgrades the stock to sell. Analysts at the bank set a price target that is 60% below the stock’s Tuesday closing price and say the current valuation cannot be justified.

FormFactor rises 8% after Deutsche Bank initiates coverage with a buy rating. The bank says the semiconductor testing company is positioned to benefit from rising chip testing intensity and from its role as a second source of probe cards for Nvidia GPUs at TSMC.

Mixed signals from quarterly reports pressure other names

Jabil drops more than 7% even after posting fiscal fourth-quarter results that beat Wall Street expectations. The electronics manufacturer reports adjusted earnings of $4.40 per share on revenue of $10.62 billion, ahead of LSEG estimates for $4.07 per share and $9.71 billion, while first-quarter and full-year earnings guidance also tops forecasts.

Concentrix gains 5% after reporting fiscal third-quarter adjusted earnings above expectations. Even so, non-GAAP earnings per share and revenue guidance for the current quarter come in below analysts’ estimates from FactSet, and the company says on its earnings conference call that its AI transition is putting pressure on revenue.

Cal-Maine Foods slips 2% after reporting a wider-than-expected fiscal first-quarter loss. The egg producer posts a loss of $1.26 per share, compared with analysts’ expectation for a loss of 77 cents per share, according to FactSet.

Our earlier article on rising interest rates and oil-driven pressure on equities explained how elevated Treasury yields and higher crude prices were weighing on stock valuations, even as oversold signals hinted at selective entry points. It also noted that investors were leaning toward defensive positioning rather than a broad risk-on shift, with policy tightening expectations and geopolitical energy risks keeping markets sensitive to news catalysts.

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