An Advanced Micro Devices computer chip.<\/p>\n
Ashley Pon | Bloomberg | Getty Images<\/p>\n
Here are the companies making headlines in midday trading:<\/p>\n
TeslaTesla shares fell more than 5% for their biggest one-day decline since May as traders booked profits from some of the best-performing stocks of 2020. The stock was also headed for its first consecutive weekly decline since May.<\/p>\n
IntelShares of the semiconductor company sank more than 15% after the company said in its earnings report that its gross margin shrank and it was experiencing production delays with its next-era chips. The report led to a flurry of downgrades from analysts, including those at Bernstein and Barclays.<\/p>\n
Honeywell Shares of the industrial name fell more than 2% after the company said it expects to face ongoing sales challenges in certain areas of its business due to the pandemic. The comments came during the company's second-quarter earnings release. Honeywell reported an adjusted profit of $1.26 per share, which topped Street expectations, with revenue also coming in ahead of estimates.<\/p>\n
Advanced Micro DevicesThe chipmaker's stock jumped 16% after rival Intel said it was experiencing product delays. AMD is already selling 7-nanometer processors, while Intel said it is delaying its version by about six months.<\/p>\n
Boston Beer Co.Boston Beer rallied more than 20% in midday trading after the company reported more than doubled the consensus earnings estimate of $2.43 per share. The brewer reported second-quarter earnings of $4.88 per share. The Sam Adams parent bested sales forecasts as well, aided by a surge in at-home demand for its products despite widespread bar and restaurant closures.<\/p>\n
Under Armour Shares of the athletic apparel company added 2% after Deutsche Bank penned a \"catalyst call buy\" on the stock. The brokerage wrote that Under Armour will continue to see better profits as consumers pursue healthier lifestyles and brick-and-mortar locations reopen.<\/p>\n
MattelMattel was down about 5% in midday trading despite better-than-expected financial figures. The company said Thursday evening that it lost 26 cents per share for its latest quarter, smaller than the 34 cents a share loss that Wall Street was expecting. Sales were also better than expected thanks to strength in Mattel's flagship Barbie brand, which grew up 35%.<\/p>\n
CNBC's Jesse Pound, Fred Imbert and Pippa Stevens contributed reporting.<\/p>\n
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Stocks making the biggest moves midday: Advanced Micro Devices, Tesla, Intel & more - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" An Advanced Micro Devices computer chip. Ashley Pon | Bloomberg | Getty Images Here are the companies making headlines in midday trading: TeslaTesla shares fell more than 5% for their biggest one-day decline since May as traders booked profits from some of the best-performing stocks of 2020 Continue reading