{"id":10219,"date":"2023-08-08T18:10:11","date_gmt":"2023-08-08T18:10:11","guid":{"rendered":"https:\/\/isafespend.com\/news\/stocks-making-the-biggest-moves-midday-beyond-meat-chegg-pnc-financial-dish-and-more\/"},"modified":"2023-08-08T18:10:13","modified_gmt":"2023-08-08T18:10:13","slug":"stocks-making-the-biggest-moves-midday-beyond-meat-chegg-pnc-financial-dish-and-more","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=10219","title":{"rendered":"Stocks making the biggest moves midday: Beyond Meat, Chegg, PNC Financial, Dish and more"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">PNC Financial<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">Citizens Financial<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">M&amp;T Bank<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Regional bank stocks were broadly under pressure Tuesday after Moody&#8217;s downgraded the credit in several smaller institutions. The ratings agency also said some larger banks were under review for a downgrade. Shares of M&amp;T Bank and Webster Financial, which had their credit rating downgraded, fell 2% each. Citizens and PNC fell about 3% each after their ratings were put on review for a downgrade. Larger bank stocks, such as <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-5\">Goldman Sachs<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\">JPMorgan Chase<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, were also lower on the day.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-7\">Organon <span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>\u2014 The stock advanced 8% on better-than-expected earnings for the second quarter. The health-care company reported earnings per share of $1.31. Analysts surveyed by StreetAccount expected 97 cents per share. Organon posted $1.61 billion in revenue, beating analysts&#8217; expectations of $1.57 billion.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\">Beyond Meat<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 The plant-based meat company fell 16% during midday trading after missing on second-quarter revenue, citing weak U.S. demand. Beyond Meat posted an adjusted loss of 83 cents per share on $102.1 million in revenue, while Refinitiv forecast 86 cents and $108.4 million.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-9\">Chegg<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 The education technology stock added more than 6%. Chegg reported second-quarter revenue of $183 million, topping the $177 million expected by analysts, per Refinitiv. The company also highlighted some artificial intelligence-focused plans, alleviating some fears of the technology&#8217;s rising threat to Chegg&#8217;s business model.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-10\">Novo Nordisk<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares of the pharmaceutical company rallied 18% after new trial data showed Novo Nordisk&#8217;s weight loss drug Wegovy cut the risk of major cardiovascular events by 20%.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-12\">EchoStar<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-13\">Dish<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Dish shares rallied more than 8% after billionaire Charlie Ergen announced he would consolidate his telecommunications empire, about 15 years after EchoStar was spun off. EchoStar shares slipped less than 1%.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-14\">Datadog<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares tanked 19% after the software company cut its full-year guidance. The company said it now expects revenue to range between $2.05 billion and $2.06 billion, versus a previous range of $2.08 billion to $2.10 billion.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-15\">Eli Lilly<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares jumped 16% after Eli Lilly reported\u00a0better-than-expected earnings\u00a0in the second quarter. The company posted an adjusted $2.11 per share on revenue of $8.31 billion, while analysts polled by Refinitiv forecast earnings per share of $1.98 and $7.58 billion in revenue. Eli Lilly also raised its full-year guidance on strong sales from its diabetes treatment Mounjaro and other drugs. Additionally, Eli Lilly got a lift on Novo Nordisk&#8217;s cardiovascular study showing its obesity drug was highly effective. The study could cause insurers to cover weight-loss drugs.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-17\">Palantir Technologies<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 The data analytics company slid 7% after posting its second-quarter results. Palantir reported earnings of 5 cents per share on revenue of $533 million, which came out in line with expectations from analysts polled by Refinitiv.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-19\">Fox Corp<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>. \u2014 The media giant gained 4.2% after reporting revenue that was in line with the Street&#8217;s expectations. Fox&#8217;s revenue was $3.03 billion for the second quarter, matching expectations from analysts surveyed by FactSet. The company also raised its semiannual dividend for Class A and Class B shares.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-20\">International Flavors &amp; Fragrances<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 The stock declined more than 18% on second-quarter results that missed analysts&#8217; expectations. The fragrance and cosmetics company reported revenue of $2.93 billion, falling shorter than analysts&#8217; estimates of $3.07 billion, according to StreetAccount. The company also lowered its guidance for the upcoming quarter, citing higher manufacturing absorption costs and lower volume driven by customer destocking.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-21\">See Corp.<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 Shares of the packaging company lost 7% after See missed revenue expectations for the second quarter. Sealed Air reported $1.38 billion in revenue, citing weakness in its end markets, while analysts surveyed from FactSet expected $1.41 billion. The company also lowered its earnings and revenue guidance.<\/p>\n<p><em>\u2014 CNBC&#8217;s Samantha Subin, Jesse Pound, Alex Harring and Hakyung Kim contributed reporting.<\/em><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/08\/08\/stocks-making-the-biggest-moves-midday-beyond-meat-chegg-pnc-financial-dish-more.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PNC Financial, Citizens Financial, M&amp;T Bank \u2014 Regional bank stocks were broadly under pressure Tuesday after Moody&#8217;s downgraded the credit in several smaller institutions. The ratings agency also said some larger banks were under review for a downgrade. Shares of M&amp;T Bank and Webster Financial, which had their credit rating downgraded, fell 2% each. Citizens<\/p>\n","protected":false},"author":1,"featured_media":10220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-10219","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks making the biggest moves midday: Beyond Meat, Chegg, PNC Financial, Dish and more | iSafeSpend<\/title>\n<meta name=\"description\" content=\"PNC Financial, Citizens Financial, M&amp;T Bank \u2014 Regional bank stocks were broadly under pressure Tuesday after Moody&#039;s downgraded the credit in several\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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