"Spotify, RTX, and General Electric: Midday Review of Stocks with Strong Momentum"

## Stocks making headlines in midday trading Shares of 3M rose 5.5% after the chemical manufacturer reported higher-than-expected revenue for the quarter. Spotify tumbled 14% following weaker-than-expected revenue and guidance. Alaska Air beat estimates on top and bottom lines for the second quarter, but shares still fell 12%. RTX disclosed an issue affecting a significant portion of its engines, causing shares to sink more than 12%. F5 rallied 5.7% after posting a beat in its fiscal third quarter. NXP Semiconductors saw a 4% increase in shares following its quarterly earnings announcement. General Electric's stock reached a 52-week high after the company reported stronger-than-expected earnings for the second quarter. Whirlpool slid more than 3% after reporting weaker-than-expected revenue. Biogen declined 3.8% after its second-quarter earnings announcement. Progressive lost nearly 2% after a downgrade by Morgan Stanley. On the other hand, MSCI gained 9% after reporting second-quarter earnings and revenue above estimates. General Motors dipped about 4.5% after reporting a surprise $792 million charge related to new commercial agreements. UPS rose about 1% after reaching a tentative labor deal with the Teamsters union. Invesco shares fell 5% after posting lower-than-expected earnings for the second quarter. Xerox gained more than 7% after raising its full-year operating margin and free cash flow guidance. Packaging Corp of America surged more than 10% after beating analysts' estimates for earnings in the second quarter. Zscaler saw a 4.5% jump in shares after a BTIG upgrade to buy from neutral. Sherwin-Williams added more than 3% after reporting record revenue for the second quarter. CNBC's Yun Li, Samantha Subin, Sarah Min, Tanaya Macheel, Brian Evans, and Alex Harring contributed to this report. ### Conclusion: The midday trading session showcased a mix of positive and negative news for various stocks. This volatile market environment could have implications for new businesses looking to enter or navigate the stock market. Here are some key takeaways: 1. ***Revenue performance matters:*** Companies like 3M, General Electric, and NXP Semiconductors experienced stock price increases after reporting higher-than-expected revenue. This highlights the importance of delivering strong financial results, as it can boost investor confidence and drive stock performance for new businesses. 2. ***Earnings announcements can have mixed outcomes:*** While some companies like F5 and Sherwin-Williams saw their stocks rise after beating earnings expectations, Biogen and Invesco faced declines following their earnings announcements. As a new business, it is crucial to carefully manage investor expectations and provide accurate guidance to minimize potential negative reactions in the market. 3. ***Operational issues and surprises impact stock prices:*** RTX and General Motors faced significant declines after disclosing issues in their operations. For new businesses, it is essential to maintain transparency and communicate any challenges or surprises proactively to avoid damaging stock prices. 4. ***Industry-specific factors play a role:*** Companies such as Spotify, Whirlpool, and Progressive faced stock drops due to weaker-than-expected revenue, downgrade by analysts, or industry-specific challenges. New businesses must stay informed about industry trends, competition, and economic factors that can impact their market performance. Overall, new businesses should recognize the importance of financial performance, effective communication, and staying attuned to industry dynamics. By focusing on these areas, they can better position themselves for success in a volatile stock market environment. Article First Published at: https://www.cnbc.com/2023/07/25/stocks-making-the-biggest-moves-midday-spot-rtx-ge.html