Midday Stock Movers: Hanesbrands, Mercury Systems, Sonos, Intel, and More

Midday Stock Movers Overview

A range of companies saw significant midday stock price movements driven by earnings reports, corporate developments, leadership moves, and market speculation.

AST SpaceMobile
The satellite communications company’s stock surged 11% following the announcement of ambitious plans to execute 45 to 60 satellite launches by 2026. The company expects at least five orbital launches by the end of the first quarter of next year. Investors reacted positively to the growth outlook in the satellite sector, seeing it as a step toward expanding global connectivity services.

Mercury Systems
Defense contractor Mercury Systems jumped over 24% after releasing fiscal fourth-quarter results that exceeded analyst expectations. The company reported adjusted earnings of 47 cents per share on revenue of $273.1 million, compared to analyst forecasts of 22 cents per share and revenue of $244 million. The beat reflects strong demand for its aerospace and defense solutions.

Hillenbrand
Shares of the industrial manufacturing firm rose 15% following stronger-than-expected fiscal third-quarter earnings. Hillenbrand reported earnings of 51 cents per share on revenue of $598.9 million, surpassing analyst expectations of 50 cents per share on $572.4 million revenue. The company also raised the lower end of its full-year earnings guidance, signaling confidence in its performance trajectory.

Sonos
The audio equipment manufacturer’s stock gained over 12% after a regulatory filing revealed that CEO Thomas Conrad purchased 92,300 shares on the prior Friday. Insider buying is often viewed as a vote of confidence in the company’s future, sparking bullish investor sentiment.

Cardinal Health
The health-care services provider saw its stock decline over 6% on mixed fiscal fourth-quarter results. While earnings beat expectations, revenue fell short of analyst estimates, dampening enthusiasm.

Hanesbrands & Gildan Activewear
Hanesbrands’ stock soared more than 25% on reports from the Financial Times that the company was close to a deal to be acquired by Gildan Activewear for nearly $5 billion. In contrast, Gildan’s stock fell 5%, likely reflecting acquisition-related concerns such as cost, debt load, or integration challenges.

Sinclair
Sinclair Broadcast Group’s shares climbed over 16% after the company announced a strategic review of its operations. The review could potentially lead to a merger or spinoff of its Ventures business, opening the door for corporate restructuring aimed at unlocking shareholder value.

On Holding AG
U.S.-listed shares of Swiss sportswear company On Holding rose 8% after posting second-quarter revenue of 749 million Swiss francs, exceeding analyst estimates of 705 million francs. The company also raised its full-year revenue guidance, reflecting strong consumer demand.

Celanese
Chemical manufacturer Celanese dropped 11% after its CEO warned of weak and uncertain demand, overshadowing an otherwise positive second-quarter earnings beat. This cautious outlook tempered investor optimism.

BigBear.ai
The IT service management company plunged over 23% after reporting disappointing second-quarter results. Losses widened to 71 cents per share, far above the estimated 6 cents per share loss, and revenue of $32.5 million fell well below the forecast of $40.6 million.

Circle Internet Group
The stablecoin issuer gained over 4% after reporting strong revenue growth in its first quarterly earnings as a publicly traded company. The results reassured investors of the firm’s market position in the crypto payments space.

Intel
Intel shares rose 3% after former U.S. President Donald Trump called CEO Lip-Bu Tan a “success,” just days after previously demanding his resignation. The mixed political commentary has kept Intel in the headlines, but the market responded positively to the latest remarks.