Stocks making biggest moves midday: Scholastic, AutoNation, Herc

Check out the companies making headlines in midday trading.

Scholastic — The publisher jumped 14.2% after announcing it would increase its share repurchase amount by $100 million. Traders also appeared to cheer the company’s quarterly results. Scholastic posted $2.26 in earnings per share on revenue of $428.3 million.

American Express — Shares slipped about 4% after the company reported second-quarter revenue of $15.05 billion, falling short of the $15.48 billion expected from analysts polled by Refinitiv. However, American Express’ earnings per share beat expectations.

Herc — Herc dropped more than 5% after Bank of America double-downgraded shares to underperform from buy. Analyst Sherif El-Sabbahy said the effect from the ongoing writers and actors strike in Hollywood will hurt the equipment rental stock.

AutoNation — AutoNation tumbled 7% during midday trading. The car dealer reported second-quarter results that exceeded expectations on the top and bottom lines. AutoNation posted adjusted earnings of $6.29 per share on revenue of $6.89 billion. Analysts expected per-share earnings of $5.91 on revenue of $6.78 billion.

Knight-Swift Transportation — Knight-Swift Transportation gained more than 2% in midday trading. The move comes even after Knight-Swift reported second-quarter earnings and revenue that were weaker than expected. The company also issued lackluster guidance.

PPG Industries — Shares rose 1.7% after PPG Industries posted strong second-quarter results. The supplier of paints, coatings and other materials posted adjusted earnings of $2.25 on revenue of $4.87 billion. Analysts polled by StreetAccount expected earnings of $2.14 per share and revenue of $4.84 billion. The company also raised its current-quarter and full-year earnings guidance.

Capital One Financial — Capital One Financial rose about 1% after the financial company topped earnings expectations for the second quarter. Capital One reported adjusted earnings of $3.52 per share, which topped a Refinitiv estimate of $3.23 per share. However, its revenue missed expectations. Total deposits also decreased 2% at the end of the second quarter.

Intuitive Surgical — The health-care stock declined 1.6% after Intuitive Surgical posted weaker-than-expected systems revenue for the second quarter. The company posted systems revenue of $392.7 million, lower than the $415.9 million, according to a consensus estimate from StreetAccount.

Sunnova Energy International — Shares fell more than 3% following a downgrade from BMO Capital Markets. The firm said although it is “constructive” on growth in the long term, the current macro environment for the residential solar industry in the U.S. remains challenging.

CSX — CSX slid more than 4% after the transportation company reported disappointing second-quarter revenue. The company reported revenue of $3.7 billion, which was weaker than $3.74 billion expected by analysts polled by Refinitiv. Earnings per share came in line with consensus at 49 cents.

— CNBC’s Michelle Fox, Alex Harring and Hakyung Kim contributed reporting.