Stocks making the biggest moves midday: RH, Carnival, Universal Health Services and more
Check out the companies making headlines in midday trading Thursday.
RH — Shares of RH fell 10.6% after the high-end furniture chain slashed its full-year outlook and said consumer demand for its products could continue to soften in the back half of 2022. That pulled other home retail stocks down. Wayfair slid 6%, and Williams-Sonoma lost 3.9%.
Walgreens Boots Alliance — Shares of the drugstore chain fell 5% despite an earnings beat in the company’s most-recent quarter. Walgreens said that a slowdown in demand for Covid-19 vaccines weighed on profits but reiterated its forecast for the full year.
Carnival — Cruise lines fell broadly, building on sharp losses from the previous session. Shares of Carnival slipped 3%. Norwegian Cruise Line Holdings’ dipped 5%, and Royal Caribbean’s dropped 3.7%. Earlier this week, Morgan Stanley cut Carnival’s price target in half and said it could go down to zero.
Universal Health Services — Universal shares fell 5.6% after the hospital and health-care services company announced it is cutting its full-year guidance. The company reported lower patient volumes and revenues in its acute care hospitals.
Pfizer — The stock climbed 2.9% after Pfizer and BioNTech said they would provide 105 million doses of the Covid vaccine in a $3.2 billion deal with the U.S. government. Shares of BioNTech jumped 7.8%.
Spirit Airlines — The airline stock jumped 4% as the battle for Spirit Airlines heated up between JetBlue and Frontier Group. Spirit postponed a shareholder vote on its proposed merger with Frontier Group to July 8. JetBlue shares fell 6%.
Xerox Holdings — Xerox shares declined more than 1% after CEO John Visentin died at age 59. Chief operations officer and president Steve Bandrowczak was named interim CEO.
— CNBC’s Tanaya Macheel and Samantha Subin contributed reporting