Check out the companies making headlines in midday trading. Deckers Outdoor — Shares lost nearly 6.7% after Truist downgraded the footwear company to hold over concerns that demand for core products is declining, noting softened direct-to-consumer trends for Hoka in February. Cava — Shares jumped 5.7% after Argus upgraded the Mediterranean food chain to buy from hold, saying investors should buy the dip. Cava has a “long runway to growth,” the firm said. Shares are up 44% year to date, but they have dropped 11% this month. Nvidia — Shares rose about 2% as the “Magnificent Seven” leader tried to move the company out of correction territory . The stock is 11% below a record high reached earlier this year. Vital Farms — William Blair initiated Vital at outperform, leading shares more than 2% higher before ending the trading day at roughly 0.4% higher. The consumer brand is “well positioned in the large and growing U.S. clean label food industry,” the firm said. Block — Shares of the payment company dropped 1.8%. The move came as Treasury yields rose on the back of hotter-than-expected inflation data. It overshadowed Mizuho upping its price target on shares to $106. Zillow Group — The stock slipped nearly 6% even after Jefferies named the online housing website company a new top idea at the firm. Shares have fallen more than 21% over the past month since the National Association of Realtors announced a settlement to potentially lower real estate commission rates on March 15. Wednesday’s moves came as rates jumped after the latest consumer price index data release. GoodRx Holdings — The telemedicine stock added nearly 3.9% following an upgrade at KeyBanc to overweight from sector weight. The firm said it sees opportunities for GoodRx to beat on earnings and raise guidance throughout the year. Delta Air Lines — Shares of Delta Air Lines were little changed, outperforming the broader market, after posting a first-quarter profit . The airline also said that it is experiencing strong leisure and business bookings ahead of the peak travel period. Earnings came in at 45 cents per share, 9 cents ahead of the 36 cents expected by analysts polled by LSEG. Albemarle — The chemicals manufacturer fell 1.2%. The stock was trading higher earlier in the morning after Bank of America upgraded shares to a buy rating, citing rising lithium prices as a catalyst. Alibaba — Shares rose 2.2% on news that Jack Ma, co-founder of the China-based e-commerce company, touted Alibaba’s management and talked about the potential for AI in an internal memo to employees. Taiwan Semiconductor Manufacturing — Shares added 0.6% after the company posted 34.3% year-on-year revenue growth in March — its fastest pace of growth since November 2022 — reflecting strong demand for its AI-powering chips. — CNBC’s Samantha Subin, Michelle Fox Theobald and Lisa Kailai Han contributed reporting. Correction: Taiwan Semiconductor Manufacturing posted 34.3% year-on-year revenue growth in March. An earlier version of this article misstated the figure.
Check out the companies making headlines in after-hours trading: Applied Materials — Shares fell nearly 5% in extended trading. The maker of semiconductor manufacturing equipment reported $7.10 billion in revenue in its fiscal second quarter, which was slightly lower than analysts’ expectations of $7.13 billion, according to LSEG. Semiconductor revenue of $5.26 billion for the quarter fell short of estimates of $5.31 billion. Take-Two Interactive Software — The video game company saw a 2% decline in shares after issuing weaker-than-expected guidance for full-year bookings. The company said it expects between $5.9 billion and $6 billion, while StreetAccount consensus estimates sought $7.82 billion. For the fiscal first quarter, Take-Two projected bookings between $1.25 billion and $1.30 billion, versus estimates of $1.28 billion. Cava Group — Shares of the Mediterranean restaurant chain fell 4%. Cava’s full-year guidance for adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, came in at $152 million to $159 million, short of the FactSet consensus call for $159.7 million. Revenue in the first quarter surpassed estimates, coming in at $332 million, versus the $327 million consensus estimate, per LSEG. Doximity — The networking platform for health-care professionals saw its stock tank 25% on weak guidance. Doximity expects adjusted EBITDA to range between $71 million and $72 million, while StreetAccount consensus estimates sought $74 million. The company’s full-year outlook also missed expectations.
The Applied Materials logo on Dec. 17, 2024.
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Check out the companies making headlines in after-hours trading:
Applied Materials — Shares fell nearly 5% in extended trading. The maker of semiconductor manufacturing equipment reported $7.10 billion in revenue in its fiscal second quarter, which was slightly lower than analysts’ expectations of $7.13 billion, according to LSEG. Semiconductor revenue of $5.26 billion for the quarter fell short of estimates of $5.31 billion.
Take-Two Interactive Software — The video game company saw a 2% decline in shares after issuing weaker-than-expected guidance for full-year bookings. The company said it expects between $5.9 billion and $6 billion, while StreetAccount consensus estimates sought $7.82 billion. For the fiscal first quarter, Take-Two projected bookings between $1.25 billion and $1.30 billion, versus estimates of $1.28 billion.
Cava Group — Shares of the Mediterranean restaurant chain fell 4%. Cava’s full-year guidance for adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, came in at $152 million to $159 million, short of the FactSet consensus call for $159.7 million. Revenue in the first quarter surpassed estimates, coming in at $332 million, versus the $327 million consensus estimate, per LSEG.
Doximity — The networking platform for health-care professionals saw its stock tank 25% on weak guidance. Doximity expects adjusted EBITDA to range between $71 million and $72 million, while StreetAccount consensus estimates sought $74 million. The company’s full-year outlook also missed expectations.
Check out the companies making headlines in midday trading. Walmart — Shares of the big-box retailer dropped 1% after Walmart fell slightly short of first-quarter sales expectations and management warned that consumers could see higher prices caused by tariffs. Walmart reported revenue of $165.61 billion, while the consensus forecast was $165.84 billion, per LSEG. The retailer earned 61 cents per share, after adjustments, beating an LSEG estimate of 58 per share. Dick’s Sporting Goods — The sporting goods retailer tumbled 14% on the announcement that it would buy rival Foot Locker for $2.4 billion , in a deal expected to close in the second half of this year. Shares of Foot Locker rallied 85% on the news. UnitedHealth — The health insurer plunged 15%, hitting an intraday low not seen in more than five years. The Wall Street Journal, citing people familiar with the matter, reported on Wednesday that the company is under Justice Department investigation for potential Medicare fraud. Fiserv — The financial technology stock fell 13% after management revealed its Clover business’ second-quarter growth would be similar to the pace in the first quarter. The comments were made during JPMorgan’s technology conference. Cisco — Shares popped nearly 6% following a better-than-expected earnings report for the network technology company’s fiscal third quarter. Cisco earned 96 cents per share, excluding items, on revenue of $14.15 billion, while analysts polled by LSEG penciled in 92 cents per share and $14.08 billion in revenue, respectively. Cisco also gave strong guidance and announced finance chief Scott Herren would retire in July. Coinbase — Shares fell more than 4% after the digital currency platform said hackers bribed staff to steal customer data for use in social engineering attacks. The hackers are now demanding $20 million in ransom. Alibaba — Shares of the Chinese e-commerce giant tumbled 7% after the firm missed fiscal fourth-quarter expectations . Alibaba’s net income rose 279% from a year ago, off a low base. Alibaba has been grappling with macroeconomic volatility that has dented consumer sentiment in China. Boot Barn — The Western retailer surged almost 17%, despite missing fiscal fourth-quarter estimates. The company said current-quarter same-store sales should rise more than predicted. Boot Barn plans to buy back as much as $200 million of its shares. CoreWeave — Shares of the artificial intelligence infrastructure company climbed 5% following its first earnings report as a public company. CoreWeave recorded $981.6 million in revenue, exceeding the $853 million figure anticipated by analysts surveyed by LSEG. DXC Technology — Shares of the IT services company declined almost 5% after the company issued weak guidance for the fiscal first quarter. DXC Technology expects adjusted earnings of 55 cents to 65 cents per share, while analysts polled by FactSet were expecting 79 cents per share. The company also provided a disappointing outlook for the full year. JetBlue — The airline’s stock slid about 4% on the back of Raymond James’ downgrade to market perform from outperform. Raymond James said JetBlue now has a more balanced risk-to-reward ratio. Aloca — The metal producer slipped 3% on the heels of UBS’ downgrade to neutral from buy. UBS said the company’s valuation isn’t attractive. Webtoon Entertainment — Shares of the storytelling technology platform jumped nearly 12% following Citi’s initiation at a buy rating. Citi said Webtoon, which beat analyst expectations when reporting first-quarter earnings earlier this week, is undervalued. — CNBC’s Sean Conlon, Pia Singh, Yun Li and Lisa Kailai Han contributed reporting
Check out the companies making headlines before the bell. Walmart – The discount retailer reported better-than-expected earnings , but shares were slightly lower in the premarket. Walmart posted an adjusted profit of 61 cents per share, beating an LSEG estimate of 58 per share. Revenue of $165.61 billion was about in line with the consensus forecast of $165.84 billion. Dick’s Sporting Goods , Foot Locker – Shares of Dick’s Sporting Goods slid nearly 11% after the athletic apparel and goods company agreed to purchase smaller rival Foot Locker for $2.4 billion. Dick’s offered $24 per share of Foot Locker, which implies 86% upside to the stock’s price. Foot Locker shares popped roughly 83% on the news. UnitedHealth Group – The health insurer’s shares pulled back more than 6%. On Wednesday, The Wall Street Journal, citing people familiar with the matter, reported that UnitedHealth is being investigated by the Department of Justice for possible Medicare fraud . Cisco Systems – The networking technology stock rose more than 2% after its latest quarterly results topped Wall Street’s expectations. Cisco earned 96 cents per share, excluding items, on revenue of $14.15 billion versus the consensus estimate of 92 cents per share and $14.08 billion in revenue. Cisco also issued upbeat guidance for the full year and announced that its finance chief, Scott Herren, will be retiring in July. Alibaba – U.S.-listed shares of the Chinese e-commerce giant dropped nearly 4% after its results for the fiscal fourth quarter missed analyst estimates. Boot Barn – The Western retailer’s shares rallied 13% despite weaker-than-expected fiscal fourth-qurater earnings and a soft full-year revenue forecast. Boot Barn earned $1.22 per share on $454 million in revenue, while analysts forecasted profit of $1.24 per share and revenue of $458 million, per LSEG. Boot Barn said it would repurchase $200 million of its stock. CoreWeave – Shares of the artificial intelligence infrastructure company fell 4% after a widening loss in the first quarter . Revenue of $982 million was above the $853 million expected by analysts, according to LSEG. This was CoreWeave’s first report as a public company, and the stock is up more than 60% since its IPO. Apple – Shares of the iPhone maker shed about 1%. President Donald Trump said on Thursday that he told CEO Tim Cook that he doesn’t want the company to build its products in India . DXC Technology – The IT services stock plummeted more than 13% on the heels of disappointing guidance for the fiscal first quarter. The company said adjusted earnings are expected to come in between 55 cents and 65 cents per share. Analysts had penciled in 77 cents per share, LSEG said. DXC Technology’s full year guidance also missed expectations. — CNBC’s Alex Harring, Jesse Pound, Fred Imbert and Pia Singh contributed reporting.