Stocks making the biggest moves midday: JetBlue, Eli Lilly, Pure Storage, Salesforce and more
Take a look at the companies making headlines in midday trading.
JetBlue Airways
The airline said it sees a smaller decline in its full-year revenue guidance than it originally expected, according to a regulatory filing. Higher-than-anticipated bookings in November and December resulted in JetBlue upgrading its forecast. Shares rose 8%.
roku
Shares rose 11% after Needham analyst Laura Martin said the streaming company will likely be bought for a “huge premium” over the next year as Republicans take control of regulatory agencies.
dollar tree
Shares of the discount retailer rose 2.5% after Dollar Tree reported better-than-expected third-quarter earnings and announced that Chief Financial Officer Jeff Davis would step down. Dollar Tree posted adjusted earnings of $1.12 per share, while analysts surveyed by FactSet were looking for $1.07 per share.
Tough
– The pet supply retailer fell nearly 4% after reporting a profit of just 1 cent per share, missing analyst expectations of 8 cents per share, according to LSEG. Chewy’s revenue of $2.88 billion was in line with estimates.
Eli Lilly
Shares rose almost 3%. Eli Lilly’s anti-obesity drug Zepbound produced greater weight loss than Novo Nordisk’s Wegovy, its main competitor, in the first clinical trial comparing the two injections.
sales force
Salesforce shares rose about 8% after the company posted a revenue increase in the third quarter and posted subscription revenue numbers that exceeded analyst estimates. Salesforce posted revenue of $9.44 billion, higher than the $9.35 billion expected by analysts surveyed by LSEG.
Pure storage
Shares of the data storage management company rose nearly 24% after Pure Storage announced a contract with one of the “top four” unnamed AI hyperscalers. Pure Storage also beat Wall Street estimates for the fiscal third quarter.
Marvel Technology
The chipmaker rose 23% after the company beat third-quarter estimates and issued better-than-expected revenue guidance, prompting several Wall Street firms to raise their price targets for the stock. JPMorgan cited current AI and cyclical tailwinds coming next year as a major catalyst for the stock’s future gains.
Okta
Authentication software shares rose more than 4% after third-quarter results and fourth-quarter guidance beat expectations. Okta reported adjusted earnings of 67 cents per share for the third quarter, above the 58 cents projected by analysts, according to LSEG.
Campbell
Shares of the packaged food company fell 6% after Campbell’s posted quarterly net sales that missed expectations. The company also announced expert Mick Beekhuizen as its new CEO.
standing locker
Shares of the sneaker giant fell more than 6% after the company reported a loss in profits and revenue. Foot Locker also cut its full-year guidance, citing a steeper promotional environment and weak consumer demand.
PSQ Holdings
Online marketplace owner PublicSquare saw its shares fall more than 30% after the company announced a registered direct offering of $36.2 million in common stock. The drop followed a big rally in the previous session. The stock rose 270.4% to $7.63 after the company announced that Donald Trump Jr., the president-elect’s eldest son, will join PSQ’s board of directors.
CNBC’s Yun Li, Jesse Pound and Hakyung Kim contributed reporting.
0 Comment