Midday Market Movers: Telecoms Slide, Towers Rise, Teva Gains on FDA Approval

Teva Pharmaceutical shares climbed 6% following FDA approval of Weltruza, its monthly long‑acting injectable for adult schizophrenia. Avient fell more than 7% after CEO Ashish Khandpur resigned, to be succeeded by Mike Frank.

Archer Aviation edged up 3% after Barclays initiated coverage with an overweight rating and a $8 price target, implying roughly 69% upside. Delta Air Lines slipped nearly 2% on weaker‑than‑expected Q3 earnings, reporting $1.72 adjusted EPS on $17.59 billion revenue versus the $1.75 EPS and $17.67 billion forecast; the airline cited higher fuel costs for trimming its full‑year outlook.

Lumentum jumped about 7% after CEO Michael Hurlston said its optical components are sold out through 2029, warning it could meet only 30% of demand for certain products next year.

In managed care, Humana surged 12% after its top Medicare Advantage contract received an improved 2027 Star Rating, while Alignment Healthcare tumbled almost 14%.

Apple shares slipped close to 2% after Nikkei Asia reported cutbacks to iPhone 18 Pro component orders, trimming October production by 15% for both the Pro and Pro Max models.

Park Aerospace lost 9%; the firm posted $0.21 EPS on $20.8 million Q2 revenue, up from $0.12 EPS and $16.4 million a year earlier, keeping the stock up about 25% year‑to‑date.

Freeport‑McMoRan added 3% as gold prices rose, with December U.S. gold futures up 1.4% on the day.

Reporting contributed by CNBC’s Davis Giangiulio, Darla Mercado and Fred Imbert.

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