Stocks making the biggest moves midday: Six Flags, Disney, Sonos and more

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Check out the companies making headlines in midday trading.

Six Flags — Shares dropped more than 22% after the theme park company sharply missed second-quarter earnings expectations. Six Flags reported earnings of 53 cents per share on revenue of $435 million. Analysts surveyed by Refinitiv forecast earnings of $1.01 per share on revenue of $519 million. The theme park operator attributed the miss to weak attendance, or a 22% drop in visitors.

Walt Disney – Disney shares jumped about 5.5% after the company posted better-than-expected results for the quarter on the top and bottom lines, helped by strong attendance at its theme parks and better-than-expected streaming numbers. The company also revealed a new pricing structure for its streaming service that includes an ad-supported tier.

Pharma stocks –Shares of Pfizer, GSK and Sanofi slipped 3.5%, 9.8% and 3.3% respectively as investors watched ongoing litigation around Zantac, a recalled heartburn medication. The drug was pulled from shelves in 2020 after the Food and Drug Administration found an impurity in Sanfoli's version that could cause cancer.

Ralph Lauren – Shares of Ralph Lauren climbed 4.5%, continuing a rally that began after the company reported earnings earlier in the week that beat Wall Street's expectations on the top and bottom lines.

Bank stocks – Shares of Goldman Sachs, Wells Fargo and JPMorgan gained about 2% Thursday, outperforming the broader market. The stocks may have been boosted by easing concerns about a recession after a second soft inflation report in a row.

Oil stocks – Oil and energy companies led the S&P 500 on Thursday, supported by a jump in crude futures. Devon Energy jumped more than 5.5%, notching the best performance