U.S. equities declined in Tuesday’s midday trade after surging during the morning session, after President Donald Trump threatened to impose higher tariffs on the European Union and India.
U.S. equities declined in Tuesday’s midday trade after surging during the morning session, after President Donald Trump threatened to impose higher 35% tariffs on the European Union, and “substantially” higher levies on India than the 25% he announced earlier.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was down 0.33% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, declined 0.45%.
Here are the top stocks making the biggest moves in Tuesday’s midday trade:
Palantir Technologies Inc. (PLTR)
Palantir shares surged nearly 7% in Tuesday’s midday trade as investors digested the company’s second-quarter (Q2) results. Palantir posted its first billion-dollar quarter, with its earnings and revenue both beating Wall Street expectations.
‘Mad Money’ host Jim Cramer said Palantir stock is “dramatically undervalued.”
PLTR stock is up 127% year-to-date.
Pfizer Inc. (PFE)
Pfizer shares surged more than 4% in midday trade after the pharmaceutical giant beat Wall Street expectations with its Q2 results. Pfizer reported earnings per share (EPS) of $0.78 on revenue of $14.7 billion, compared to an estimated EPS of $0.58 on revenue of $13.56 billion.
PFE stock is down 8% year-to-date.
Hims & Hers Health Inc. (HIMS)
Hims & Hers’ shares tumbled over 9% on Tuesday after the company’s Q2 revenue missed Wall Street expectations. The telehealth company’s revenue came in at $545 million, lower than a Koyfin-compiled estimate of $552 million. The revenue miss was largely on account of GLP-1 subscriber losses during the quarter, and regulatory changes forcing Hims to shift away from mass compounding.
HIMS stock is up 137% year-to-date.
Intel Corp. (INTC)
Intel shares surged more than 4% in Tuesday’s midday trade after President Trump revealed that he will announce new import tariffs on semiconductor imports next week. Intel, along with rival Taiwan Semiconductor Manufacturing Co. (TSMC) is among the beneficiaries of the U.S. Chips and Science Act, announced in 2022.
INTC stock is up 1% year-to-date.
UnitedHealth Group Inc. (UNH)
UnitedHealth shares gained 4% in Tuesday’s midday trade as investors digested earnings of the company and its peers, including CVS Health Corp. (CVS) and Humana Inc. (HUM).
An analysis by the Wall Street Journal noted that health insurers are planning to scale back benefits and cut down plans, driving up the investor sentiment.
UNH stock is down 51% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<