Cadence, Rambus climb after earnings beats; Universal Health cuts guidance

According to CNBC, Cadence Design Systems rose more than 4% after the chip design company reported second-quarter adjusted earnings of $2.11 per share, above the LSEG consensus estimate of $2.05, on revenue of $1.58 billion that matched expectations. Rambus gained slightly after posting second-quarter adjusted earnings of 77 cents per share on revenue of $207 million, topping estimates of 72 cents per share and $198 million, respectively. Universal Health Services fell more than 4% after lowering full-year guidance to adjusted earnings of $22.28 to $23.65 per share from $22.64 to $24.52 per share for the year ending December. Welltower climbed 4% after raising full-year guidance for normalized funds from operations to $6.36 to $6.44 per share, above the FactSet consensus of $6.30. The company formerly known as LendingClub, now Happen, advanced 4% after setting full-year earnings guidance of $1.80 to $1.90 per share and forecasting loan originations of $12.2 billion to $12.6 billion. F5 gained almost 2% after third-quarter adjusted earnings of $4.73 per share and revenue of $865 million beat Street estimates. Cincinnati Financial lost almost 4% after second-quarter operating earnings of $1.43 per share and net premiums of $2.64 billion fell short of estimates. Nucor slipped 1% after second-quarter results beat expectations, while Principal Financial Group dropped 3% even after adjusted operating earnings of $2.42 per share topped estimates.