Stocks making the biggest moves midday: Broadcom, Tesla, Noodles & Co. and more

div > div.group > p:first-child"> Broadcom — Shares of the chipmaker jumped more than 9 percent after the company reported better-than-expected earnings. Broadcom posted earnings per share of $5.55, while analysts polled by Refnitiv expected a profit of $5.23. The company said its results were impacted by slower demand out of China, but noted much of that was reflected in its quarterly guidance.

Adobe —Adobe shares dipped 5.1 percent as the company's weak earnings guidance overshadowed its strong quarterly numbers. The company said it expects second-quarter earnings around a median of $1.77 per share, below a Refinitiv estimate of $1.88. Adobe's fiscal first-quarter earnings topped analyst expectations, however.

Jabil —Shares of the manufacturing services company rose as much as 2 percent on the back of strong earnings. Jabil reported quarterly earnings of 64 cents per share. Tesla — Tesla shares dropped 4 percent after the company unveiled its Model Y crossover. The electric carmaker's SUV launch reignited worries for some Wall Street analysts that Tesla would need to raise long-awaited cash later this year. The launch of the electric carmaker's new SUV comes a few weeks following Tesla's announcement of cut jobs and store closures to make profits.

Source: News Formal (newsformal.com)

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