Check out some of the companies making the biggest moves at noon: American Airlines — America’s largest airline by passenger numbers increased 3%. American Airlines expects its deficit to widen this year and plans to slow capacity growth next year as record profits fail to offset rising fuel costs. Southwest Airlines — The Dallas-based airline rose 5%. Southwest now expects adjusted earnings per share of $2.60 to $2.85 this year, down from its July forecast of $3.25 to $4.25 per share. Procter & Gamble — The Ivory soap and Tide detergent maker rose 6% after outperforming both sales and bottom line profits in its fiscal first quarter. P&G’s adjusted earnings per share were $2.00, beating consensus estimates of $1.88, according to LSEG. Revenue was $23.28 billion, exceeding analysts’ expectations of $22.8 billion. Forgent Power Solutions – The power distribution company plunged 24% after announcing that finance chief Ryan Fiedler would step down from his post and move into an outside consulting role. Amy Ard, executive vice president of finance, has been named CFO to replace Mr. Fiedler. SAP SE — Shares of the German software company rose 4% after third-quarter earnings and revenue beat analysts’ expectations. Blackstone – The alternative asset manager rose 6% after third-quarter profits beat Wall Street expectations. Adjusted earnings were $1.32 per share, compared to analyst estimates compiled by LSEG of $1.26 per share. Total assets under management reached $1.368 trillion. Comcast – The Universal theme park owner rose 4% after Comcast beat analyst expectations in the third quarter. Adjusted earnings were $1.07 per share on revenue of $29.3 billion, beating LSEG consensus estimates of 98 cents per share and $29.28 billion. Free cash flow also came in at $4.21 billion, beating the Street consensus of $3.32 billion. TTM Technologies — The printed circuit board maker plunged 28%. The midpoint of its fourth-quarter earnings per share outlook was 1 cent below the Street consensus, but the earnings estimate was in line with expectations, according to FactSet data. Hexcel — The Connecticut-based maker of composite materials for the aerospace industry fell 11%. Third-quarter sales, operating profit, gross profit and operating margin all fell short of Street forecasts, according to FactSet’s Street Account service. Aevex — The defense company rose more than 7% after it disputed a Bloomberg News report that the U.S. Navy would not buy Aevex’s GARC boat drones due to performance issues. “Orders have not been suspended,” Avex said in a release. Lockheed Martin — Shares rose 5% after the major defense contractor reported better-than-expected third-quarter results. Lockheed also raised its profit and revenue outlook. Spotify — The audio streaming service soared 9% after its fourth-quarter revenue outlook beat analysts’ expectations. Spotify also announced an 11% year-over-year increase in monthly active users to 788 million. Energy stocks — Some of the groups rose as oil prices soared amid renewed geopolitical concerns in the Middle East. Kinder Morgan rose 4%. Metaplatform — Facebook parent company fell more than 7% after revenue beat analysts’ expectations. Third-quarter revenue was $64.6 billion, beating the LSEG consensus call of $63.37 billion. The company’s midpoint sales outlook for the fourth quarter also exceeded TheStreet’s expectations. CSX — The railroad rose 7% after third-quarter results beat expectations. CSX earned 57 cents per share on revenue of $4.02 billion, while analysts surveyed by LSEG had expected earnings of 53 cents per share and revenue of $3.96 billion. Union Pacific, which also reported results Thursday, rose nearly 3%. Lam Research — The semiconductor equipment maker fell more than 11%. Lam expects adjusted earnings for the fiscal second quarter to be $2.33 plus or minus 15 cents per share on revenue of $8.6 billion plus or minus $400 million. Analysts had expected earnings of $2.31 per share and revenue of $8.53 billion. Shares of QuantumScape – the company behind lithium metal battery technology rose almost 3%. QuantumScape announced plans for a 100 megawatt-hour solid-state battery production line for artificial intelligence data centers. — CNBC’s Fred Imbert, Darla Mercado, Davis Giangiulio, Sean Conlon, Sarah Ming, Michelle Fox, Paulina Ricos and Leslie Josephs contributed reporting.
