Check out some of the biggest movers at midday: BJ’s Wholesale — Shares rose 4% after the wholesale retailer reported better-than-expected second-quarter results. BJ’s earned $1.36 per share, excluding certain items, on sales of $6.09 billion. Analysts polled by FactSet had expected earnings of $1.17 per share and revenue of $5.97 billion. The company also raised its fiscal year earnings per share guidance to $4.40 to $4.60 to $4.60 and $4.80. Ross Stores — Shares rose more than 4% after the retail company reported second-quarter results that beat analysts’ expectations. Ross Stores also announced third-quarter profit forecasts that exceeded expectations. Cryptocurrency Stocks — This group was broadly higher as Bitcoin continued its rally on Friday, with the digital currency on pace to end the week up more than 20%. Robinhood stock soared 12%, Coinbase stock rose more than 8% and Strategy stock rose 6%. Bitcoin rose after the White House hosted crypto leaders and urged Congress to pass the Clarity Act, a bill that focuses on crypto infrastructure and a clear layout for federal agencies to regulate cryptocurrencies. BROADCOM — Shares rose nearly 1% after Bloomberg News reported, citing sources, that the company plans to raise more than $60 billion in debt for a deal to back Anthropic. OSI Systems — Shares fell about 10% after fourth-quarter earnings fell short of expectations. The electronic systems and components maker reported adjusted earnings of $3.78 per share and revenue of $484.1 million, while analysts surveyed by FactSet had called for $3.77 per share and $529.7 million. OSI’s earnings outlook for the fiscal year ending June 2027 also fell short of Street expectations by a narrow margin. Boston Beer Co. — Shares fell 3% after the maker of Twisted Tea announced that Chief Financial Officer Diego Reynoso would step down on Sept. 14. He will join Ingredion as its new head of finance. OI Glass — Shares of the glass container maker rose 10%. Citi upgraded the stock to buy from neutral and raised its price target to $9 from $8, implying a 41% upside from Thursday’s closing price. Moderna — The biotech stock resumed its winning ways Friday, rising more than 10%. Shares soared nearly 177% Wednesday after Merck and Moderna’s cancer vaccines showed positive results in late-stage trials. Moderna shares took a breather Thursday, with the stock down about 24% as investors booked profits and sold shares. Merck recently rose 2%. InnovAge — Senior care service provider’s stock rose 2%. KeyBanc upgraded the stock from sector weight to overweight after analysts met with management and visited one of Innovation’s centers. “While we believe INNV’s turnaround is complete, significant opportunities remain to optimize the business and accelerate growth,” said analyst Matthew Gilmore. Parsons — Shares of the national security-focused tech provider rose 4% after Baird raised his price target to $57 from $48 and upgraded the stock to outperform from neutral. The new price target suggests an upside of about 24%. —CNBC’s Nick Wells and Darla Mercado contributed reporting.
