Meta, Microsoft, Applied Digital, Shake Shack, Arm: Stocks Making The Biggest Moves Today

U.S. equities gained in Thursday’s midday trade after earnings of big technology companies boosted investor sentiment.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.44% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, gained 0.3%.

Here are the top stocks making the biggest moves in Thursday’s midday trade:

Meta Platforms Inc. (META)

Meta Platforms shares surged more than 12% in Thursday’s midday trade after the company’s second-quarter earnings blew past Wall Street expectations.

Meta reported earnings per share (EPS) of $7.14 on revenue of $47.52 billion, while Wall Street expected an EPS of $5.88 on revenue of $44.81 billion.

META stock is up 33% year-to-date.

Microsoft Corp. (MSFT)

Microsoft shares surged more than 4% on Thursday, pushing the company’s market capitalization beyond the $4 trillion mark.

The Windows-maker’s EPS stood at $3.65 on revenue of $76.44 billion, compared to an expected earnings of $3.37 on revenue of $73.86 billion.

MSFT stock is up 27% year-to-date.

Applied Digital Corp. (APLD)

Applied Digital shares skyrocketed more than 35% on Thursday after a slew of price target hikes from brokerages following the company’s fourth-quarter earnings, according to The Fly. The common theme was the optimism following CoreWeave Inc.’s deal extension, which confirms Applied Digital's “elite datacenter infrastructure provider status.”

APLD stock is up 77% year-to-date.

Shake Shack Inc. (SHAK)

Shake Shack shares tumbled 12% after the company’s revenue guidance for the current quarter came in weaker than expected.

The burger chain reported second-quarter results that beat Wall Street expectations – it posted an EPS of $0.44 on revenue of $356 million, ahead of the estimated EPS of $0.38 on revenue of $354 million.

SHAK stock is down 4% year-to-date.

Arm Holdings Plc. (ARM)

Arm Holdings shares tumbled more than 13% on Thursday after the company’s current quarter guidance disappointed investors. The chip designer guided for an EPS in the range of $0.29 and $0.37, while Stocktwits data showed Wall Street expects an EPS of $0.34.

ARM stock is up 15% year-to-date.

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Also See: Microsoft Hits $4 Trillion Market Capitalization, Becomes Second Company After Nvidia To Hit The Milestone