Bausch Well being, Meta, Comcast, Qualcomm and extra

Try the businesses making headlines in noon buying and selling.

Bausch Health – Buying and selling within the pharmaceutical firm’s shares was halted after the inventory dipped 50%. A Delaware federal courtroom decide issued an oral order relating to patent litigation over Xifaxan, Bausch’s drug that treats irritable bowel syndrome and diarrhea. The order might pave the way in which for generic competitors for the drug within the late 2024 to 2025 timeframe, in accordance with JPMorgan. The financial institution downgraded Bausch on the litigation replace, dropping its ranking to impartial from obese.

Wingstop – The quick informal restaurant chain’s shares surged 22% following an earnings beat within the second quarter. Wingstop posted adjusted earnings of 45 cents per share, and topped estimates of 36 cents, in accordance with Refinitiv. The corporate missed income estimates however reaffirmed its steerage for the total yr.

Meta Platforms – Shares of the Fb dad or mum firm slid 6.6% on the back of disappointing quarterly results. Meta Platforms posted a miss on the highest and backside strains within the second quarter as digital promoting slowed. The corporate additionally issued a weak forecast for the present interval.

Comcast – The cable and leisure big’s shares slid greater than 8% regardless of the corporate posting robust quarterly earnings and income. Comcast failed to add broadband subscribers within the quarter for the primary time ever. The corporate stated it misplaced 30,000 broadband subscribers this month alone.

Qualcomm – Shares of the chipmaker fell 4% after the company issued guidance for the current quarter that was short of consensus expectations. Qualcomm’s forecast instructed that the corporate’s handset gross sales progress would sluggish throughout its fiscal fourth quarter, reflecting a decline in smartphone demand. Nonetheless, the corporate’s third-quarter earnings barely beat Wall Road expectations.

Stanley Black & Decker – Stanley Black & Decker’s shares plunged greater than 13% after the corporate reported quarterly earnings that missed each high and bottom-line Wall Road estimates. The corporate additionally minimize its full-year forecast.

Teladoc — Shares plummeted almost 20% after the telemedicine firm issued a weak outlook in its earnings report. Teladoc reported a $3 billion noncash goodwill impairment cost.

Charter Communications – Constitution fell greater than 8% after the cable firm was hit with a hefty authorized nice. A courtroom in Texas discovered the corporate responsible for $7 billion in damages and liable for an worker who robbed and murdered a buyer in 2019, the Wall Street Journal reported.

Photo voltaic shares – Shares of firms that make photo voltaic panels or give attention to clear vitality surged after Senate Majority Chief Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., introduced they’d reached a deal on an bold local weather invoice. Sunrun jumped 26%, and Sunnova was up 22%. First Solar gained 14%. Enphase rose 4% and Constellation Energy added 15%.

Etsy – Etsy jumped almost 10% after the e-commerce company beat estimates for quarterly earnings. The corporate’s quarterly income grew greater than 10% even amid robust financial situations.

Southwest – Shares of Southwest Airways slumped greater than 6% after the company said it expects capacity constraints for the rest of the year and issued a blended steerage. Its earnings report, nonetheless, beat analyst expectations.

Spirit Airlines – Shares of the low cost airline climbed 5% after JetBlue agreed to a $3.8 billion deal to buy Spirit. The deal comes after a bidding struggle between JetBlue and Frontier Airways. If the deal is accredited by regulators, the mixed airline could be the fifth largest within the U.S. Shares of JetBlue dipped 2%.

Honeywell – Honeywell gained greater than 3% after reporting quarterly earnings that beat analyst expectations for revenue and income. The corporate’s gross sales beat estimates in each section.

Harley-Davidson – Shares of Harley Davidson jumped about 7% after it reported quarterly outcomes that beat Wall Road’s expectations. The corporate additionally reiterated its full-year steerage, even after it had a two-week halt in manufacturing in the course of the quarter because of a problem with a provider.

Disclosure: Comcast is the proprietor of NBCUniversal, dad or mum firm of CNBC.

— CNBC’s Samantha Subin, Sarah Min, Jesse Pound and Tanaya Macheel contributed reporting