Stocks making the biggest midday moves: Microsoft, Alphabet, Boeing and more

Here are the stocks making headlines on Wednesday, July 26.

Microsoft — The Xbox owner saw its shares slide 4% after issuing quarterly revenue guidance that fell short of analysts’ expectations. The soft revenue outlook was partly due to weakness in the segment that contains Windows software. Microsoft did report earnings and revenue that beat Street estimates for the calendar second quarter, however.

Alphabet — Shares of the Google parent rose more than 6% after Alphabet beat analysts’ revenue and profit in the second quarter. The parent company of YouTube reported $1.44 in earnings per share on $74.6 billion of revenue. Analysts surveyed by Refinitiv were expecting $1.34 per share on $72.82 billion of revenue.

Boeing — The aerospace company’s shares jumped almost 6% and hit a new 52-week high after its second-quarter earnings announcement. Boeing’s revenue of $19.75 billion topped analysts’ estimates of $18.45 billion, according to Refinitiv. The company also reported an 82-cent-loss per share, while Refinitiv analysts had estimated a loss of 88 cents per share.

WW International — Shares of the weight loss company soared more than 18% after an upgrade to overweight from Morgan Stanley. The bank highlighted WW International’s recent acquisition of Sequence, which analyst Lauren Schenk said will aid growth by providing exposure to weight loss drugs.

Texas Instruments — Shares dropped 5% as investors focused on the company’s guidance for the current quarter. Texas Instruments said to expect between $1.68 and $1.92 in earnings per share in the current quarter, meaning much of the range was below the $1.91 estimate of analysts polled by FactSet. Meanwhile, the company guided revenue to between $4.36 billion and $4.74 billion against a FactSet consensus estimate of $4.59 billion. However, the company’s second quarter results exceeded analysts’ expectations.

Visa — The credit card stock slipped more than 1% despite Visa beating estimates for its fiscal third quarter. The company reported $2.16 in adjusted earnings per share on $8.12 billion of revenue. Analysts surveyed by Refinitiv were looking for $2.12 in earnings per share on $8.06 billion of revenue. The company did report that payments volume growth was slowing slightly.

Chubb — Shares of the insurance company jumped more than 5% after a stronger-than-expected second-quarter report. The company posted $4.92 in adjusted earnings per share, above the $4.41 expected by analysts, according to Refinitiv. The net premiums written for property and casualty lines came in at $10.68 billion, above estimates of $10.64 billion.

Spotify — The music streaming company’s shares gained 3.2% Wednesday. Shares closed 14% lower Tuesday after Spotify’s second-quarter results missed analysts’ expectations. Deutsche Bank wrote in a Wednesday note that the post-earnings selloff created an attractive entry point for investors.

PacWest – Shares of the community bank surged more than 27% afterit agreed to be acquired by Banc of California in all-stock deal, which includes $400 million in equity from Warburg Pincus and Centerbridge. The combined holding company will operate under the Banc of California name. Shares of Banc of California rose less than 1%.