Crocs record revenue, AbbVie's Humira sales, Bristol-Myers competition: Top stocks

Crocs stock falls after reporting record revenue, citing slowing Q2 sales in its Hey Dude brand. Pharmaceutical company AbbVie sees better-than-expected Q2 sales of its arthritis medication Humira, Lastly, Bristol-Myers Squibb is finding generics to be competing with its own drugs, hurting its sales figures. Yahoo Finance Live anchors Brad Smith and Julie Hyman examine several trending stocks in the morning session.

Video transcript

BRAD SMITH: We are about 30 minutes into the trading day here, and let's take a look at how stocks are moving right now. First and foremost, Wall Street taking yesterday's quarter basis point rate hike as the Fed's last, sending stocks higher. Markets also feeling the impact of results season, metal surging on second quarter results. A different story over at Chipotle and McDonald's, though.

JULIE HYMAN: Looking at other individual stocks on the move, Crocs falling today after reporting a record-high revenue in its second quarter, $1.07 billion. The footwear brand also beat on adjusted earnings per share, up 11% to 3.59 where analysts-- $3.59 where analysts expected a decline in earnings in the quarter. But the company did see a slowdown in its Hey Dude brand. Its wholesale revenue declined in the second quarter. That could be weighing on investor sentiment.

BRAD SMITH: And AbbVie is climbing this morning. The company beating street expectations for second-quarter earnings, driven by a lower than expected fall in sales of its arthritis drug, HUMIRA. Global HUMIRA sales fell over 25% to $4.01 billion. That's just above analysts' expectations of $3.94 billion in sales. The company also released its annual profit forecast and raised that as the pharmaceutical giant and company sees sales growth in its newer drugs.

JULIE HYMAN: And speaking of drug makers, Bristol-Myers Squibb also falling today after reporting a miss on revenue and earnings per share in its second quarter. Also it slashed its full-year outlook, driven by a dip in sales for two of its top drugs, blood cancer treatment REVLIMID and blood thinner ELIQUIS, which are facing generic competition. The company is also citing an increase in patients receiving its cancer drugs for free from its patient assistance foundation as a blow to sales.