Microsoft Corporation Headquarters in Issy-les-Moulineaux, near Paris, France, April 18, 2016.
Charles Platio | Reuters
Check out the companies leading the headlines in lunch trading on Thursday.
Microsoft – Shares of technology giant fell 0.6% after Microsoft cut its earnings and revenue guidelines for the fourth fiscal quarter. Microsoft cited unfavorable exchange rates as the reason for the move.
Meta Platforms, Facebook’s parent company, rose 4.8 percent after Cheryl Sandberg announced she was stepping down as chief operating officer. Chief Development Officer Javier Olivan will take office this fall.
GameStop – Shares of the video game retailer rose 9.4% after the company released its quarterly results. GameStop reported revenue of $ 1.38 billion in its first fiscal quarter, just over $ 1.27 billion in the quarter a year ago. But it also reported a net loss of $ 157.9 million, worse than the net loss of $ 66 million in the previous quarter.
Chewy – The e-commerce company for pets rose 23.3% after reporting unexpected earnings in the previous quarter. Chewy shared earnings of 4 cents per share on $ 2.43 billion in revenue. Analysts expected a loss of 14 cents per share on $ 2.42 billion in revenue, according to Refinitiv.
MongoDB – Shares of the database platform provider rose 17.8% after the company’s results for the previous quarter exceeded analysts’ expectations. MongoDB reported an unexpected gain of 20 cents per share on revenue of $ 285 million. Analysts expected a loss of 9 cents per share on revenue of 267 million dollars.
Generac – Shares of the generating company jumped more than 9.7% after UBS named it the best choice. The investment firm said the downside of Generac’s core business was already reflected in the market, and the company’s boost to clean energy gave shares a significant boost.
Hewlett Packard Enterprise – Hewlett Packard Enterprise fell 5.5% after analysts’ forecast forecasts for revenue and profit for the previous quarter. The company reported earnings of 44 cents per share on revenue of $ 6.71 billion, compared to Refinitiv’s consensus estimates of 45 cents per share on revenue of $ 6.78 billion.
PVH – The clothing company added 2.5% after surpassing Wall Street’s forecast for the upper and lower lines for the previous quarter. Tommy Hilfiger and Calvin Klein reported earnings of $ 1.94 per share on $ 2.12 billion in revenue, compared to estimates of $ 1.61 cents per share on $ 20.9 billion in revenue.
Hormel Foods – Shares of Hormel Foods fell 5.2% after the company cut its earnings targets for fiscal 2022. The food company expects earnings per share to fluctuate between $ 1.87 and $ 1.97, after previously directed for earnings between $ 1.87 per share and $ 2.03 per share.
– Jesse Pound and Yun Lee from CNBC contributed to the report
Add Comment