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LivestreamMenuHere are some of the companies making headlines in midday trading. Travelers — The insurer popped almost 8% after it reported a huge beat on second-quarter earnings. Travelers earned $10.04 per share, while analysts polled by LSEG expected a profit of $5.42 per share. Revenue of $11.53 billion also exceeded analyst estimates. Travelers’ surge helped lift the iShares U.S. Insurance ETF (IAK) , which was 2% higher on the day. Allstate and Hartford Insurance also rose more than 2% in sympathy. GSK — U.S. traded shares of the biopharmaceutical company slid more than 2% after GSK said it would cease further development of its chronic cough treatment camlipixant. Late-stage clinical trials were mixed, and the company said that “based on the aggregate data, the limited efficacy demonstrated is unlikely to transform patient care.” Nebius Group – The artificial intelligence infrastructure company advanced more than 4%. Nebius announced it has raised $775 million in debt financing. This debt is backed by the company’s graphics processing units infrastructure and contracted cash flows from an agreement with an investment-grade customer, the company said. Nebius will deploy the proceeds toward the global buildout of its AI cloud platform. Netflix — The streaming giant dropped more than 7% after its in-line results for the second quarter failed to impress investors. Netflix earned 80 cents per share on revenue of $12.56 billion. Analysts polled by LSEG expected a profit of 79 cents per share on revenue of $12.59 billion. The company, however, also said it would cut back how often it releases its “What We Watched” reports — which give investors a look at engagement on the platform. Semiconductors — The iShares Semiconductor ETF (SOXX) slid nearly 1%, heading for its fifth losing day in the past six sessions and its worst week since April 2025. Taiwan Semiconductor Manufacturing lost almost 2%, while Astera Labs fell 4%. Credo Technology was off more than 3%. Alphabet — The Google parent company slid for a second day in a row, down 2%, after Bloomberg reported on Thursday that Google is months behind delivering its latest Gemini AI model. Alphabet tumbled almost 4.5% on Thursday after the news. Intuitive Surgical — Shares fell more than 12% after the maker of surgical robotic tools posted second-quarter results. The company earned an adjusted $2.80 per share on revenue of $2.89 billion. Analysts polled by LSEG expected a profit of $2.50 per share on revenue of $2.82 billion. Intuitive Surgical also maintained its full-year outlook for procedures using its da Vinci robotic system. It expects growth around 14%. SpaceX — The stock fell more than 4% after it aborted the launch of its Starship mega rocket. In a post on X, CEO Elon Musk said some of the engines didn’t start, forcing an automatic launch abort, but he promised the company will try again in the coming days. BP , ConocoPhillips — Shares of the energy companies were up roughly 1% after CNBC’s Brian Sullivan reported that they will announce new investments in Iraq on Friday. Details of the individual commitments were not immediately available, but people familiar with the matter told Sullivan the investment by the companies will be in billions of dollars, and even potentially tens of billions. Alcoa — The aluminum producer slipped 3% even after reporting second-quarter results that beat analyst expectations. Alcoa earned $2.12 per share, excluding certain items, on revenue of $3.97 billion. Analysts had forecast a profit of $2.06 per share on revenue of $3.94 billion, per LSEG. The company also lowered its 2026 production outlook for alumina, which is used in aluminum smelting. Software stocks — A slew of names were lower as the iShares Expanded Tech-Software Sector ETF (IGV) fell more than 1% and was on pace for its sixth week lower in seven. Synopsys and Cadence Design Systems were down 8% and 9%, respectively, while Palantir Technologies and Microsoft dropped about 2% each. Fifth Third Bancorp — Shares slid 2% after the regional bank reported a slight earnings miss in its second-quarter financial report. However, Fifth Third reported net interest income in-line with expectations that was up 48% from the same quarter a year ago. — CNBC’s Fred Imbert, Nick Wells and Darla Mercado contributed reporting.
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