Stocks making the biggest moves midday: Amazon, Marvell, PayPal, Salesforce & more
HS 28/08/2026
Here are some of the companies making headlines in midday trading. Workday — Shares jumped 6% after the enterprise artificial intelligence platform posted second-quarter results that topped estimates. The company earned $2.75 per share on an adjusted basis and posted revenue of $2.65 billion. Analysts polled by LSEG sought $2.61 per share and $2.64 billion. Salesforce — The software company’s stock continued its post-earnings rally. Shares gained 3% on Friday, adding to the stock’s advance of more than 22% from a day earlier. The company beat estimates on the top and bottom lines in the second quarter and posted a $2.6 billion gain on strategic investments, including its stake in AI startup Anthropic. Nvidia — Shares of the chip giant dropped more than 3%. Nvidia’s stock saw a rally of nearly 9% in the prior session, helping to lift the S & P 500 and the Nasdaq Composite to their best daily performances since Aug. 4. Amazon — Shares of the e-commerce giant popped nearly 4% after Evercore ISI hiked its price target on the stock to $355 from $315. Analyst Mark Mahaney said, “For the first time, survey evidence [shows] that agentic AI is actually additive for Amazon Retail.” Strategy , Coinbase — The crypto stocks fell 7% and 6%, respectively, as bitcoin prices pulled back. The flagship cryptocurrency traded around 3% lower at $77,597.90 as of 12:18 p.m. ET. ServiceNow — The enterprise software platform’s stock popped 3%, heading for a second straight winning day. Finance chief Gina Mastantuono spoke at Deutsche Bank’s technology conference this week and said that ServiceNow’s AI business is on track for its full-year target of $1.5 billion. PayPal — Shares plunged nearly 16% for the company after Bloomberg reported Thursday night, citing people familiar with the matter, that buyout firm Advent and payment processor Stripe decided to not pursue PayPal. The deal would have been one of the largest leveraged buyouts, the sources told the outlet. Affirm — Shares jumped 5% after the buy now, pay later company reported $1.17 billion in revenue for the fiscal fourth quarter, topping an LSEG estimate of $1.11 billion. The company’s first-quarter guidance for revenue is also above estimates. Gap — Shares popped nearly 13% after the retail company announced Michael Francis will take the helm at Old Navy, starting Nov. 2. He succeeds Haio Barbeito, who has been the CEO since 2022. Adjusted earnings for Gap in the second quarter topped estimates, coming in at 52 cents per share versus the LSEG consensus estimate of 48 cents. Elastic N.V. – Shares jumped over 17% for the data analytics company after full-year guidance topped analysts’ expectations. The company sees adjusted earnings per share in a range of $3.29 to $3.37. Analysts polled by LSEG were looking for $3.24 per share in terms of guidance. Marvell Technology — Shares dropped 10% after Marvell called for current quarter adjusted earnings of $1.10 per share, plus or minus 5 cents, while analysts polled by LSEG anticipated $1.07 per share. The company also sees non-GAAP gross margin for the period in a range of 57.5% to 58.5%, versus the StreetAccount consensus call for 58.5%. Rubrik — Shares dropped over 11% for the security and AI operations company. Rubrik’s non-GAAP gross margin for the second quarter came in at 81%, versus the 81.7% StreetAccount consensus estimate. The company beat on the top and bottom lines, however. Rubrik said it saw 20 cents in earnings per share, excluding items, and on $427 million in revenue for the quarter, while analysts penciled in 4 cents a share and $396 million, per LSEG. Autodesk — Shares dropped 4% for the maker of 3D design software after its earnings projections failed to beat estimates. Autodesk sees adjusted earnings per share ranging from $3.04 to $3.09 in the third quarter, while analysts polled by LSEG were looking for $3.14 per share. — CNBC’s Fred Imbert, Alex Harring and Darla Mercado contributed reporting
