Molina Healthcare, Ford, Honeywell, and More

The S&P 500 and Nasdaq rallied from earlier losses and were higher at midday, as was the Dow, after the government reported stronger-than-expected economic growth in the second quarter. 

Molina Healthcare (MOH) shares took off as the medical insurer reported revenue from premiums soared 17%, and expects it will grow that much for the full year.

Shares of Keurig Dr Pepper (KDP) also jumped as higher prices boosted the soft drink maker’s profit and sales.

Viking Therapeutics (VKTX) shares skyrocketed after the biotech firm announced it was moving its experimental weight-loss treatment to a late-stage trial earlier than anticipated. 

Edwards Lifesciences (EW) shares cratered as the medical technology firm slashed its full-year guidance for sales of a heart device.

Shares of Ford Motor (F) plunged after the automaker’s earnings came in below estimates on warranty costs, and it continued to post big losses on electric vehicles (EVs).

Honeywell International (HON) shares dropped after the company lowered its 2024 profit guidance on management’s outlook for the rest of the year, including the impact of acquisitions.

Oil and gold futures were down. The yield on the 10-year Treasury note declined. The U.S. dollar rose versus the pound, but fell to the euro and yen. Prices for most major cryptocurrencies tumbled.