Earnings Movers | Celestica Jumps 18%; Cadence Design, Philips Rise 10%; AstraZeneca Gains 3%; Merck Sinks 5%; PayPal Drops 8%

Celestica raised its full-year revenue forecast for the third time in a row as demand grows for its cloud-computing segment. The shares jumped 18% on Tuesday.

Cadence Design raised its annual sales and profit forecast, after the U.S. lifted export curbs on chip design software to China earlier this month, allowing the company to resume sales to the key market. Shares of the company rose 10% on Tuesday.

Drugmaker Merck on Tuesday announced job and cost cuts it said will save $3 billion a year as it posted lower second-quarter results due to continuing weak demand for its Gardasil vaccine in China. Merck shares fell over 5% on TUesday.

Royal Philips increased its profitability outlook as the impact of the trade war was not as severe as it feared. The Dutch medical-technology firm now expects its full-year adjusted operating earnings margin to be between 11.3% and 11.8%, a 50 basis points increase from the previous outlook, according to a statement Tuesday.

US-listed shares of Philips gained 10% on Tuesday.

PayPal Holdings stock dropped 8% Tuesday after it reported second-quarter 2025 results. The company reported a quarterly revenue growth of 5% year-over-year to $8.29 billion, topping the analyst consensus estimate of $8.08 billion. 

Total payment volumes rose by 6% year-over-year, reaching $443.5 billion in the quarter. However, payment transactions declined by 5%, totaling 6.2 billion.

AstraZeneca stock rose more than 3% as it beat second-quarter earnings expectations on Tuesday, helped by strong sales of key cancer, heart and kidney disease drugs, but maintained its full-year forecast as pricing pressures and global trade risks remain challenges.