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Stocks making the biggest moves midday: RH, Carnival, Universal Health Services and more

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Check out the companies making headlines in midday trading Thursday.

RH — Shares of RH fell 10.6% after the high-end furniture chain slashed its full-year outlook and said consumer demand for its products could continue to soften in the back half of 2022. That pulled other home retail stocks down. Wayfair slid 6%, and Williams-Sonoma lost 3.9%.

Walgreens Boots Alliance — Shares of the drugstore chain fell 7.3% despite an earnings beat in the company’s most-recent quarter. Walgreens said that a slowdown in demand for Covid-19 vaccines weighed on profits but reiterated its forecast for the full year.

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Carnival — Cruise lines fell broadly, building on sharp losses from the previous session. Shares of Carnival slipped 2.5%. Norwegian Cruise Line Holdings’ dipped 3.9%, and Royal Caribbean’s dropped 3.1%. Earlier this week, Morgan Stanley cut Carnival’s price target in half and said it could go down to zero.

Universal Health Services — Universal shares fell 6.1% after the hospital and health-care services company announced it is cutting its full-year guidance. The company reported lower patient volumes and revenues in its acute care hospitals.

Pfizer — The stock climbed 3.1% after Pfizer and BioNTech said they would provide 105 million doses of the Covid vaccine in a $3.2 billion deal with the U.S. government. Shares of BioNTech jumped 5%.

Spirit Airlines — The airline stock jumped 6.4% as the battle for Spirit Airlines heated up between JetBlue and Frontier Group. Spirit postponed a shareholder vote on its proposed merger with Frontier Group to July 8. JetBlue shares fell 6.6%.

Xerox Holdings — Xerox shares declined more than 1.5% after CEO John Visentin died at age 59. Chief operations officer and president Steve Bandrowczak was named interim CEO.

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— CNBC’s Tanaya Macheel and Samantha Subin contributed reporting

Source: CNBC

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