FIVN - Hot Stocks: CVX FIVN rise on earnings; DXCM drop; RAD climbs on activist chatter

With another round of quarterly results stirring trading in Friday's midday action, Chevron ( NYSE: CVX ) and Five9 ( FIVN ) both received buying interest following the release of strong earnings reports.

Elsewhere, DexCom ( DXCM ) had the opposite reaction to its quarterly update. Disappointing results and guidance sent the stock lower.

In other news, speculation about potential activist interest encouraged buying in beleaguered drug store chain Rite Aid ( RAD ).

Gainers

Chevron ( CVX ) jumped 8% in midday trading after the company's quarterly profit soared past expectations . The oil giant's Q2 profit rose to $11.62B, or $5.95 per share, a record bottom-line result for the firm. The result was up from $3.08B, or $1.60 per share, last year.

On the revenue side, CVX said its top-line figure jumped 83% from last year to $68.7B. This topped analysts' consensus estimate by $11B.

Meanwhile, earnings news fueled gains in Five9 ( FIVN ). Shares of the cloud contact center software provider climbed more than 10% following better-than-expected results and raised guidance.

FIVN exceeded projections for both its top and bottom lines. Meanwhile, it raised its 2022 revenue forecast to $780.5M-$782.5M, compared to an analyst consensus of $772M.

Elsewhere, Rite Aid ( RAD ) represented another standout gainer in midday trading. Shares climbed 8% on chatter in Dealreporter that the company remains a ripe target for activist attention .

Decliner

The release of disappointing quarterly results spurred selling in DexCom ( DXCM ). The diabetes medical device maker reported earnings and revenue that missed expectations.

DXCM also tightened its 2022 revenue forecast to $2.86B-$2.91B, below the $2.93B that analysts were expecting. Based on the quarterly update, DXCM plunged nearly 6% in midday action.

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