Check out the biggest movers at midday: Valmont Industries — Agricultural products and infrastructure rose 12% after better-than-expected first-quarter results. The company cited strong demand for beets in North American utilities. The lower limit of the full-year profit forecast has also been raised. PITNEY BOWES — The postal equipment and services giant soared 8% after reporting preliminary first-quarter results. First-quarter revenue of $477 million beat the FactSet consensus of $465.9 million, and adjusted earnings per share of about 47 cents also beat expectations. OFG Bancorp — Shares of the Puerto Rico-based financial services company rose more than 5% following strong first-quarter results. OFG’s total core revenue increased to $185.8 million in the first quarter from $178.3 million in the year-ago period. Given the strong trends, the company continues to buy back its own shares and announced a 17% increase in dividends during the quarter. Robert Half — The staffing company’s shares rose 4% after Prime Minister William Blair called the valuation “too compelling to ignore” and lifted the stock to outperform the market. UnitedHealth — Shares soared more than 9% after UnitedHealth reported first-quarter profit and revenue that beat analysts’ expectations. The company had adjusted earnings per share of $7.23 and revenue of $11.72 billion. Analysts had expected revenue of $109.57 billion and earnings per share of $6.57. UnitedHealth also raised its full-year profit outlook. 3M — Shares fell 2% after the manufacturing giant reported a lackluster outlook and mixed first-quarter results. The company expects earnings per share to be between $8.50 and $8.70. Analysts’ expected guidance, compiled by FactSet, was around $6.50 per share. Amazon — The online retailer rose 1.8% after Amazon agreed to invest up to $25 billion in Anthropic as part of an expansion deal to build out its AI infrastructure. This is on top of the $8 billion Amazon has already invested in the artificial intelligence startup in recent years. Meanwhile, Anthropic said in an announcement Monday that it is committed to spending more than $100 billion on Amazon Web Services technology over the next 10 years. Apple — The tech stock fell less than 2% after Apple announced that Tim Cook would step down as CEO effective Sept. 1. Cook will assume the role of executive chairman, and will be replaced by insider John Ternas, who previously served as senior vice president of hardware engineering. Alaska Air Group — Shares fell more than 1% after the airline withdrew its 2026 forecast, citing uncertainty over fuel costs. In the first quarter, Alaska Airlines had revenue of $3.3 billion and an adjusted loss of $1.68 per share. Both numbers were lower than estimates. Analysts had expected the company to report a loss of $1.35 per share on revenue of $3.31 billion, according to LSEG. GE Aerospace — Shares fell nearly 6% as GE Aerospace lowered its outlook for flight departures, overshadowing strong first-quarter profits and sales. Zions Bancorp — Shares fell 2.4% after the regional bank posted $662 million in net interest income in the first quarter, below the $674.5 million expected by analysts surveyed by StreetAccount. However, LSEG reported earnings per share of $1.56, beating the consensus estimate of $1.42. Steel Dynamics — The steelmaker rose 3.7%% after reporting mixed first-quarter results. Revenue of $5.2 billion exceeded the $5.1 billion expected by analysts surveyed by LSEG. However, earnings per share were $2.78, slightly below expectations of $2.79 per share. DR HORTON — Shares rose 7.2% after the homebuilder reported second-quarter earnings of $2.24 per share, beating the $2.15 per share estimates of analysts surveyed by LSEG. However, quarterly sales came in at $7.56 billion, lower than expectations of $7.6 billion. Tractor Supply — The company fell 9% after the rural lifestyle retailer reported disappointing earnings and earnings. First-quarter earnings were 31 cents a share, below the 34 cents expected by analysts polled by FactSet. Revenue was $3.59 billion, below the FactSet consensus estimate of $3.63 billion. Quest Diagnostics — Shares of the clinical testing services company soared 5.2% following the latest results. Quest Diagnostics’ adjusted first-quarter earnings were $2.50 per share, beating analysts’ estimates of $2.37 per share polled by FactSet. Revenue of $2.9 billion exceeded consensus estimates of $2.83 billion. —CNBC’s Christina Cheddar Burke, Lisa Kailai Han and Davis Giangiulio contributed reporting.
