Midday movers: Bristol-Myers, 3M and Deckers rise; Dexcom falls

(Updated - July 26, 2024 11:27 AM EDT)

Investing.com -- U.S. stock futures rose Friday, rebounding after hefty losses in megacap tech this week, as inflation data was in-line with consensus.

Here are some of the biggest U.S. stock movers today:

3M Company (NYSE:MMM) stock rose 17% after the industrial conglomerate raised the low end of its full-year adjusted profit forecast expecting to benefit from restructuring measures and increasing demand for electronics.

Bristol-Myers Squibb (NYSE:BMY) stock rose 8% after the drugmaker posted better-than-expected second-quarter results, driven by growth from new products like anemia treatment Reblozyl and heart drug Camzyos as well as from its top-seller, blood thinner Eliquis.

Apple (NASDAQ:AAPL) stock rose 0.2%, boosted by the positive overall tone despite its smartphone shipments in China falling by 6.7% in the second quarter of 2024, according to data from market research firm Canalys.

Novo Nordisk (NYSE:NVO) stock fell 0.4% despite the drugmaker’s blockbuster Wegovy weight loss drug receiving backing from the European Union’s medical regulator backing to reduce heart risks.

Deckers Outdoor (NYSE:DECK) stock soared 8% after the athletics shoes and apparel company raised its annual profit forecast following a first-quarter results beat.

Dexcom (NASDAQ:DXCM) stock slumped 41% after the medical device maker cut its annual revenue forecast, saying it had fewer new customers than expected.

Baker Hughes (BKR) stock rose 4.5% after the oilfield services firm beat estimates for second-quarter profit, helped by a strong international performance.

Charter Communications (NASDAQ:CHTR) (CHTR) stock soared 15% after the cable company beat second-quarter earnings expectations.

Walmart (NYSE:WMT) stock fell 0.6% after Reuters reported that the retail giant plans to potentially spend $200 million on self-driving forklifts as part of broader efforts to automate more warehouse operations.

Saia , Inc. (NASDAQ:SAIA) fell 20% after reporting disappointing second quarter results despite high expectations heading into the print.

Aon plc (NYSE:AON) rose 7%, the most in three years, after second quarter revenue beat the average analyst estimate. Results reflect organic revenue growth of 6% in its Commercial Risk Solutions.

Biogen (NASDAQ:BIIB) fell 6% after the European Medicines Agency adopted a negative opinion on the Marketing Authorization Approval for its treatment for early Alzheimer’s disease.

Norfolk Southern (NYSE:NSC) rose 10% after delivered solid second quarter results, with improvement in its operating ratio and expenses.

Additional reporting by Louis Juricic

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