U.S. midday trading updates lift SoFi, Royal Caribbean and JetBlue shares

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U.S. midday trading updates

Highlights

Pentair shares surge 13% after beating third-quarter estimates and revising its full-year sales decline to 3%, from a previous 4% to 7% fall.
SoFi Technologies jumps 15% by raising 2023 revenue guidance to $5.04 billion, outpacing FactSet consensus of $4.87 billion, and boosting adjusted EBITDA outlook.
JetBlue Airways spikes over 20% after projecting wider Q4 margins despite warning fuel costs will increase 85% from a year earlier.

Guidance upgrades and earnings beats drive gains

As reported by CNBC, several companies are posting outsized midday moves after updating investors on full-year expectations and third-quarter performance.

Pentair shares jump 13% after the water treatment company lifts full-year revenue guidance. Pentair now expects total sales to fall about 3%, compared with an earlier forecast for a 4% to 7% decline, while third-quarter results beat estimates on both revenue and earnings.

SoFi Technologies climbs 15% after raising full-year guidance. The company now expects revenue of $5.04 billion, up from a previous range of $4.75 billion to $4.85 billion and above the FactSet consensus of $4.87 billion; it also raises its adjusted EBITDA outlook.

Royal Caribbean advances 8% after reporting third-quarter earnings above analyst expectations. The cruise operator earns $6.57 per share, excluding certain items, ahead of the LSEG consensus forecast of $6.38, and also raises full-year earnings guidance for 2026.

PayPal adds 2% after posting third-quarter adjusted earnings of $1.45 per share, above the LSEG estimate of $1.31, and lifting its full-year profit forecast. United Parcel Service rises 3% after beating Wall Street expectations for the third quarter and increasing full-year guidance, including a revenue outlook of about $92.6 billion.

JetBlue Airways jumps more than 20% after saying it expects wider fourth-quarter margins even as fuel prices are projected to rise 85% from a year earlier. Celestica gains 12% after lifting full-year guidance, while Cadence Design Systems rises 8% after third-quarter results top estimates and the company increases its full-year revenue growth outlook.

AI-linked names and weaker outlooks split the market

Technology and infrastructure stocks tied to artificial intelligence are also moving higher. Dell Technologies gains 8% after announcing an expansion of cybersecurity capabilities across AI environments, including its Resilience Operations for AI service and the PowerProtect AI assistant.

Other AI infrastructure names climb after improved sentiment tied to Anthropic's preliminary filing on Monday to go public and a separate lender agreement to finance the purchase of $63 billion in Broadcom technology by Anthropic. Nebius Group surges 11%, Western Digital and Bloom Energy rally 8%, and Astera Labs advances 9%. Nvidia rises 1% after saying it will invest $3 billion in Meta, while Meta Platforms slips 0.8% after announcing plans Monday to raise up to $95 billion to support AI infrastructure investment.

On the downside, Xylem falls almost 12% after cutting full-year guidance and lowering its adjusted earnings outlook to $5.40 to $5.45 per share from a prior range of $5.55 to $5.70. The company also misses third-quarter profit and revenue estimates, according to FactSet data.

Boeing drops 9% after reporting mixed third-quarter financial results, with a wider-than-expected loss despite revenue above the LSEG consensus estimate. Whirlpool loses 2% after posting weaker-than-expected earnings and revenue for the third quarter and cutting full-year revenue guidance to $14.5 billion from $15.0 billion.

In our earlier article, we examined how the S&P 500’s push toward the 8,000 level was increasingly hinging on exceptionally strong third-quarter earnings after an AI-driven rally in megacaps. We also noted the headwinds from higher oil prices, elevated Treasury yields, and political uncertainty, alongside concerns about narrow market breadth and concentration risk if a small group of leaders disappoints.

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