Stocks Show Mixed Performance Amid Earnings Reports and Corporate Announcements
- ON Semiconductor and Inspire Medical have seen a rise in stock prices on July 29, 2024.
- Conversely, Integra and Enstar Group experienced declines in their stock values.
- This marks a notable shift in the market dynamics for these companies.
NEW YORK (AP) — On Monday, several stocks experienced significant movements following earnings reports and corporate announcements. ON Semiconductor Corp. saw a notable increase, rising $8.10 to $78.27 after surpassing analysts’ expectations for its fiscal second-quarter earnings and revenue. Similarly, Inspire Medical Systems Inc. gained $7.82 to reach $133.61, buoyed by an upward revision of its revenue forecast for the year. Revvity Inc. also enjoyed a strong day, climbing $10.44 to $125.59 after reporting better-than-expected second-quarter financial results. Guardant Health Inc. rose $2.28 to $35.28 following the FDA's approval of its Shield blood test for colon cancer screening, marking a significant milestone for the cancer testing company. Additionally, Crown Holdings Inc. increased by $1.10 to $86.78, announcing a substantial $2 billion stock buyback program aimed at enhancing shareholder value. Conversely, Integra LifeSciences Holdings Corp. faced a downturn, falling $6.01 to $25.42 after it revised its earnings forecast downward for the year. Enstar Group Ltd. experienced a sharp decline, dropping $21.14 to $327.17 as a consortium led by Sixth Street agreed to acquire the investment holding company for approximately $5.1 billion. Meanwhile, Palantir Technologies Inc. saw a slight decrease of 10 cents, closing at $27.08, despite securing a multi-year contract with Tree Energy Solutions.