Earnings news remained the most potent driver of individual stocks during Thursday's midday trading. High-profile names like Caterpillar ( NYSE: CAT ) and Honeywell ( HON ) rallied in the wake of their strong quarterly reports.
Shopify ( SHOP ) represented another standout gainer, expanding its value by about a fifth. The advance was triggered by a better-than-expected bottom line.
Elsewhere, a substantial quarterly loss put pressure on Credit Suisse ( CS ), which was hurt by a multi-billion-dollar charge.
Gainers
Caterpillar ( CAT ) reported a Q3 profit that reached a company record, as strong pricing allowed it to post revenue growth of 21%. The results also beat analysts' consensus on both the top and bottom lines.
CAT's Q3 revenue totaled $15B, including $1.6B from higher prices and $1.4B from increased sales volume. Thanks to the earnings report, shares of the maker of construction equipment climbed 9% in intraday action.
A strong quarterly report lifted shares of Honeywell ( HON ) as well. The company beat projections with its quarterly results and provided an upbeat forecast. The results sent HON higher by about 4% in midday trading.
Shopify ( SHOP ) also experienced a rush of investor interest, inspired by its latest financial figures . Shares of the e-commerce platform soared more than 19% in midday action after it delivered a Q3 loss that was narrower than analysts had predicted.
The company's revenue figure rose 22% from last year to reach $1.4B. SHOP added that monthly recurring revenue came in at $107M, up 8% from the previous year.
Decliner
Credit Suisse ( CS ) plunged in the wake of its quarterly report . Shares of the Swiss bank dropped almost 20% in intraday action after the company reported a deep loss for Q3. The red ink came about mostly as a result of a $3.7B charge relate to the reassessment of deferred tax assets.
Looking at revenue, CS reported 4% growth from the previous quarter. However, the total was down 30% from the previous year, reflecting lower net revenue in the investment Bank and Wealth Management units.
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Hot Stocks: CAT, HON, SHOP surge following quarterly reports; CS plunges