Shares of Arch Capital, Edwards Lifesciences, and Cohu are the standout movers today.
Insurance, reinsurance, and mortgage insurance provider Arch Capital (NASDAQ:ACGL) is replacing Twitter in the S&P 500 from November 1. Earlier, the company delivered robust third-quarter numbers with the top line rising 28% year-over-year to $2.47 billion, comfortably surpassing estimates by $20 million.
Additionally, EPS at $0.28 outperformed expectations by $0.08.
Shares of healthcare products provider Edwards Lifesciences (NYSE:EW), on the other hand, are slumping today after its Q3 numbers missed the cut.
Revenue increased marginally by 0.8% over the prior year to $1.32 billion but lagged expectations by $10 million. EPS of $0.61 too failed to beat expectations by $0.01. For full-year 2022, the company now expects to notch an EPS between $2.40 and $2.50.
Rounding off the movers list is semiconductor equipment provider Cohu (NASDAQ:COHU) which is up in double digits today on the back of a strong third-quarter showing.
The company’s top line decreased by 8.2% year-over-year to $206.7 million but managed to outperform expectations by $1.4 million.
Further, EPS at $0.74 came in ahead of consensus by $0.06. The company continues to see strong recurring business momentum coupled with a more than 87% contract renewal rate annually.
Cohu shares have now climbed ~31% over the past month alone.
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