Novo Nordisk, Sofi Tech, Paypal, Unitedhealth, Spotify: Stocks Making The Biggest Moves Today

U.S. equities edged lower in Tuesday's midday trade as investors wait for the crucial Federal Reserve policy meeting outcome on Wednesday. This comes at a time when there is growing pressure from President Donald Trump on Fed Chair Jerome Powell to cut interest rates.

The SPDR S & P 500 ETF (SPY), which mirrors the S & P 500 index, was down 0.07% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq 100, gained 0.11%.

Here are the top stocks making the biggest moves in Tuesday's midday trade:

Novo Nordisk A/S (NVO)

Ozempic and Wegovy maker Novo Nordisk's shares plunged more than 20% in Tuesday's midday trade after the company cut its 2025 sales growth forecast from 13%-21% to 8%-14%. Even at the higher end of the new projections, the outlook is nearly half of the 26% growth Novo reported in 2024.

NVO stock is down 37% year-to-date.

SoFi Technologies Inc. (SOFI)

SoFi Technologies' shares gained over 12% in Tuesday's midday trade after the company's second-quarter (Q2) earnings surpassed Wall Street expectations.

SoFi reported earnings per share (EPS) of $0.08 on a revenue of $854.9 million, ahead of an estimated EPS of $0.06 on a revenue of $804.2 million, according to Stocktwits data.

SOFI stock is up 54% for the year.

PayPal Holdings Inc. (PYPL)

PayPal shares tumbled over 8% after the company reported a slowdown in its transaction margin dollars, a key profitability metric.

PayPal's transaction margin dollars grew 7% year-on-year to $3.84 billion, but on a sequential basis, this is a decline from the 8% growth the company registered in the first quarter (Q1).

PYPL stock is down over 16% for the year.

UnitedHealth Group Inc. (UNH)

UnitedHealth's shares fell over 5% after the health insurance giant's Q2 results disappointed Wall Street. It posted earnings per share (EPS) of $4.06, lower than the expected $4.48, according to Stocktwits data.

UNH stock is down nearly 47% for the year.

Spotify Technology SA (SPOT)

Spotify's shares were down over 10% after the music streaming giant posted a loss of $0.49 per share on revenue of $4.86 billion, lower than a Wall Street estimate of an EPS of $2.3 and revenue of $5.01 billion, according to Stocktwits data.

SPOT stock is up more than 40% for the year.

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