Biggest stock movers today: Netflix, American Airlines, Johnson & Johnson and more
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Nasdaq futures are down 1.3% in the trading session on Thursday following disappointing reports from tech behemoths such as Netflix (NASDAQ:NFLX), Tesla (TSLA), and IBM (IBM).
Here are some of Thursday's biggest stock gainers and losers:
Biggest stock movers

Johnson & Johnson (NYSE:JNJ) shares rose around 5% after it posted better-than-expected Q2 earnings and raised its full-year guidance after seeing a surge in sales in its medtech division. For 2023, Johnson & Johnson (JNJ) projects $98.8 billion to $99.8 billion in reported sales and $10.70â$10.80 in adjusted earnings per share, compared to $98.91 billion and $10.65 in the consensus.

Zions Bancorporation (NASDAQ:ZION) jumped 7% after the regional lender outperformed expectations in Q2 earnings with a solid rebound in customer deposits. Total deposits of $74.3 billion rose 7% Q/Q; customer deposits were $65.9 billion, up 3% from the prior quarter. Total loans and leases of $56.9 billion edged up from $56.3 billion in Q1.
Catalent's (NYSE:CTLT) stock rose 8% following news that activist investor Elliott Investment Management had purchased a substantial interest in the contract pharmaceutical producer. According to a WSJ story, Elliott is pressing for changes on the company's board and has been talking to possible director candidates about joining a slate of nominees for a proxy contest.
United Airlines (NASDAQ:UAL) stock gained more than 3% on the back of positive Q2 results and a bullish outlook for 2023. The company expects third-quarter adjusted EPS of $3.85 to $4.35 vs. consensus of $3.68 and raised its yearly adjusted EPS estimate to between $11 and $12 from $10 to $12 vs. consensus of $9.99.

Biggest stock losers

American Airlines Group (NASDAQ:AAL) shares fell nearly 6% despite upbeat Q2 results and increase in FY2023 outlook. The airlines expect Q3 EPS in the range of $0.85 - $0.95 vs. consensus of $.91 and raised FY2023 EPS in the range of $3 - $3.75 from $2.50 - $3.50 vs. consensus of $3.04.
Netflix's (NFLX) stock dropped around 9% after Q2 revenue missed market expectations. The streaming giant expects Q3 revenue of $8.52 billion, slightly less than the average forecast of $8.68 billion, and operating income of $1.89 billion on an operating margin of 22.2%.
Discover Financial Services (NYSE:DFS) stock fell roughly 14% after missing the consensus estimate for Q2 earnings as its provision for credit losses grew and net charge-offs climbed, indicating more regular card delinquencies. The company has halted share buybacks while it conducts an internal review of compliance, risk management, and corporate governance. It also said that it is in talks with regulators about a "card product misclassification" concern.

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