Stocks Surge Following Strong Earnings Reports
- Newell Brands and 3M saw an increase in their stock prices on Friday.
- In contrast, Saia and DexCom experienced declines in their stock values.
- Overall, the stock market showed mixed results with significant moves in these companies.
NEW YORK – In a notable trading session on Friday, several stocks experienced significant price movements, primarily driven by positive earnings reports. Bristol-Myers Squibb Co. (BMY) saw a rise of $4.31, closing at $49.58, after the biopharmaceutical giant exceeded analysts' expectations for second-quarter earnings and revenue. Similarly, Colgate-Palmolive Co. (CL) gained $3.71 to reach $100.20, buoyed by strong financial results that surpassed Wall Street forecasts. 3M Co. (MMM) also enjoyed a substantial increase, climbing $19.97 to $123.36, following a successful earnings report that outperformed analysts' predictions. Charter Communications Inc. (CHTR) experienced a remarkable surge of $54.96, closing at $370.19, as the cable provider reported earnings and revenue that exceeded expectations for the second quarter. Norfolk Southern Corp. (NSC) added $26 to its stock price, reaching $248.90, after reporting earnings that beat analyst forecasts. Conversely, some companies faced challenges in the market. Saia Inc. (SAIA) saw a significant decline, dropping $96.16 to $392.95, as its second-quarter earnings fell short of Wall Street's expectations. DexCom Inc. (DXCM) also faced a downturn, with shares falling $44.82 to $63.03 after the medical device maker revised its revenue forecast downward for the year. In contrast, Newell Brands Inc. (NWL) rose $2.58 to $8.92, as the company raised its earnings forecast for the year, reflecting a positive outlook amidst mixed results in the market.