Stocks making the biggest moves midday: Spotify, RTX, General Electric and more

Check retired the companies making headlines successful midday trading.

3M – Shares of the chemic shaper roseate 5.5% pursuing the company's latest net report. 3M posted $7.99 cardinal successful revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. The institution besides raised its full-year net guidance and reaffirmed its gross guidance.

Spotify — The euphony streaming platform tumbled 14% pursuing weaker-than-expected gross and guidance. Spotify reported gross of €3.18 billion, beneath the statement estimation of €3.21 cardinal from analysts polled by Refinitiv. Full-year gross guidance was besides softer than analysts forecasted. The results travel the company's announcement that it volition raise prices for premium subscription plans.

Alaska Air — Shares of Alaska Air shed 12%, adjacent arsenic the hose bushed estimates connected apical and bottommost lines for the 2nd quarter. The hose reported $3 successful adjusted net per stock connected $2.84 cardinal successful revenue. Analysts surveyed by Refinitiv were expecting $2.70 successful net per stock connected $2.77 cardinal successful revenue. The airline's full-year net guidance of $5.50 to $7.50 per stock was astir in-line with the mean expert estimation of $6.65, according to FactSet.

RTX – Shares of the defence contractor sank much than 12% aft it disclosed an issue affecting a "significant portion" of its Pratt & Whitney engines that powerfulness Airbus A320neo models. Elsewhere, RTX reported second-quarter net that topped Wall Street expectations, posting $1.29 successful adjusted net per stock connected $18.32 cardinal successful revenue. Analysts polled by Refinitiv called for $1.18 successful net per stock and $17.68 cardinal successful revenue.

F5 — Shares of the unreality bundle institution rallied 5.7%. Late Monday, F5 posted a top- and bottom-line bushed successful its fiscal 3rd quarter. The institution reported adjusted net of $3.21 per stock connected gross of $703 million. Analysts called for $2.86 successful net per stock and gross of $699 million, according to Refinitiv.

NXP Semiconductors — Shares roseate 4% pursuing the chipmaker's quarterly net announcement Monday aft hours. NXP reported $3.43 successful adjusted net per stock connected $3.3 cardinal successful revenue. Analysts had estimated $3.29 net per stock and gross of $3.21 billion, according to Refinitiv. The company's projected third-quarter net besides topped analysts' estimates. 

General Electric — Shares of the concern elephantine popped much than 5% to deed a 52-week precocious aft the institution posted stronger-than-expected net for the 2nd quarter. GE reported adjusted net of 68 cents per stock connected gross of $16.7 billion. Analysts called for net of 46 cents per stock connected gross of $15 billion, according to Refinitiv. GE besides boosted its full-year nett guidance, saying it's getting a boost from beardown aerospace request and grounds orders successful its renewable vigor business.

Whirlpool — Whirlpool slid much than 3% a time aft reporting weaker-than-expected gross successful its 2nd quarter. The location appliance institution posted gross of $4.79 billion, little than the statement estimation of $4.82 billion, according to Refinitiv. It did bushed connected net expectations, reporting adjusted net of $4.21 per share, higher than the $3.76 estimate.

Biogen — Shares of the biotech institution declined 3.8% aft its second-quarter net announcement. Biogen posted adjusted net of $4.02 per stock connected gross of $2.46 billion. Analysts polled by Refinitiv anticipated net of $3.77 per stock and gross of $2.37 billion. Revenue for the biotech institution was down 5% twelvemonth implicit year. The institution besides announced it would slash astir 1,000 jobs, oregon astir 11% of its workforce, to chopped costs up of the motorboat of its Alzheimer's cause Leqembi. 

Progressive — The security company's shares mislaid astir 2% pursuing a downgrade by Morgan Stanley to underweight from adjacent weight. The steadfast cited excessively galore antagonistic catalysts arsenic its crushed for the downgrade. 

MSCI — Shares gained 9% aft the company's second-quarter net and gross came supra analysts' estimates. The concern probe institution posted $3.26 net per share, excluding items, connected gross of $621.2 million. Analysts polled by FactSet had expected $3.11 net per stock connected $602.5 million. 

General Motors — The automaker's banal dipped astir 4.5%. GM's latest quarterly results included a astonishment $792 cardinal complaint related to caller commercialized agreements with LG Electronics and LG Energy Solution. Separately, helium institution lifted its 2023 guidance for a 2nd clip this year. GM besides reported a second-quarter beat connected revenue, posting $44.75 cardinal compared to the $42.64 cardinal anticipated by analysts polled by Refinitiv.

UPS - Shares of UPS roseate astir 1% aft the Teamsters national announced a tentative labour deal with the shipping elephantine connected Tuesday.

Invesco — The concern absorption firm's shares fell 5% aft it posted adjusted net of 31 cents per stock successful the 2nd quarter, portion analysts polled by FactSet estimated 40 cents per share. President and CEO Andrew Schlossberg said the institution would absorption connected simplifying its organizational model, strengthening its strategical focus, arsenic good arsenic aligning its disbursal base. 

Xerox – Shares of the workplace products and solutions supplier gained much than 7% aft the institution raised its full-year operating borderline and escaped currency travel guidance. Xerox present anticipates adjusted operating borderline of 5.5% to 6%, compared to earlier guidance of 5% to 5.5%. It besides calls for astatine slightest $600 cardinal successful currency flow, compared to its erstwhile outlook of astatine slightest $500 million.

Packaging Corp of America — The packaging products company's banal surged much than 10%, reaching a caller 52-week high. In the 2nd quarter, the institution posted net of $2.31 per share, excluding items, beating analysts' estimates of $1.93 per share, according to Refinitiv. The institution cited little operating costs from efficiency, arsenic good arsenic little freight and logistics expenses. Its gross of $1.95 billion, meanwhile, came beneath analysts' estimates of $1.99 billion, according to FactSet.

Zscaler — Shares of the IT information institution popped 4.5% aft a BTIG upgrade to buy from neutral. "Our fieldwork leads america to judge that request successful the Secure Service Edge (SSE) has sustainably improved and that ample projects which were enactment connected clasp successful precocious 2022/early 2023 are starting to determination guardant again," BTIG said successful a note.

Sherwin-Williams – Shares added much than 3% after the institution reported grounds gross for the 2nd 4th to $6.24 billion. Analysts called for $6.03 cardinal successful revenue, according to FactSet. The institution notched adjusted net per stock of $3.29, portion analysts estimated $2.70 per share.

— CNBC's Yun Li, Samantha Subin, Sarah Min, Tanaya Macheel, Brian Evans and Alex Harring contributed reporting