Stocks making the biggest moves midday: Fortinet, Shopify, Lyft and more

Check out the companies making headlines in midday trading. Fortinet – The cybersecurity stock was the biggest advancer in the S & P 500 on Wednesday, surging 26% after Fortinet posted a strong second-quarter report, as well as upbeat current quarter guidance. The cybersecurity company posted adjusted quarterly earnings of 57 cents per share on revenue of $1.43 billion. Analysts polled by LSEG had anticipated earnings of 41 cents per share on revenue of $1.40 billion.

Novo Nordisk – Shares tumbled 8% after the Wegovy drugmaker posted disappointing second-quarter results and lowered its operating profit outlook for the full year. While the stock has run up more than 25% year to date thanks to optimism around its weight-loss drugs, the latest report is raising concerns it is seeing pressure from Eli Lilly's Zepbound and Mounjaro. V.F. Corporation – The stock jumped around 12% following the company's better-than-expected first-quarter earnings results.

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Shopify shares soar 22% after earnings top expectations, upbeat forecastThe company said it saw strong demand for its services, which include software for online merchants, despite “a mixed consumer spend environment.”
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Shopify shares soar 22% after earnings top expectations, upbeat forecastThe company said it saw strong demand for its services, which include software for online merchants, despite 'a mixed consumer spend environment.'
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