Midday movers: Expedia, Lilly rise; Array, Elf Beauty fall

(Updated - August 9, 2024 12:35 PM EDT)

Investing.com -- U.S. stock futures were unchanged Friday, consolidating the previous day's gains after solid labor market data suggesting a U.S. recession was unlikely.

Here are some of the biggest U.S. stock movers today:

• Paramount Global (PARA) stock rose 0.3% after the entertainment company beat profit expectations, with its streaming business reporting its first quarterly profit in three years, while announcing it would cut 15% of its U.S. workforce as it attempts to cut costs.

• Expedia (NASDAQ:EXPE) (EXPE) stock surged over 9% after the online travel company beat quarterly expectations even after it warned of a softening in travel demand in July.

• Nvidia (NASDAQ:NVDA) stock fell 0.9%, with the chipmaker’s upcoming earnings report likely to be the next key catalyst for Big Tech stocks, according to Barclays strategists.

• Array Technologies (ARRY) stock slid 24% after the solar energy technology maker lowered its annual guidance.

• ELF Beauty (ELF) stock slipped 16% after the cosmetics company issued cautious guidance even as it raised annual sales and profit forecasts after topping first-quarter estimates.

• SoundHound AI (NASDAQ:SOUN) (SOUN) stock fell 3.6% despite the artificial intelligence voice provider beating estimates for second-quarter revenue and raising its full-year revenue forecast.

• Take-Two (NASDAQ:TTWO) stock climbed 3% as it expects net bookings to grow in fiscal years 2026 and 2027, as the videogame publisher gears up for the launch of its long-awaited "Grand Theft Auto VI" next year.

• Walt Disney (NYSE:DIS) stock rose fell 0.9% ahead of its D23 fan convention later Friday, at which the entertainment giant is set to announce details of coming films.

• Doximity (DOCS) stock rose 32% after the digital platform for medical professionals reported fiscal first-quarter results that exceeded analyst expectations and provided an upbeat outlook.

• Akamai Technologies (NASDAQ:AKAM) stock rose 11% after the cloud computing company reported better than expected quarterly results, with revenues passing the billion-dollar mark in the third quarter.

• Eli Lilly&Co. (NYSE:LLY) rose 6%, extending gains following its recent earnings report, as analysts increased their price target on the stock.

• The Trade Desk Inc . (NASDAQ:TTD) rose 8% after delivering solid results in the second quarter, along with strong guidance. Analysts were impressed by the ad tech company's ability to execute.

Additional reporting by Louis Juricic