Twitter, Macy’s, Nvidia, Lululemon and more

A Lululemon sign hangs in front of their store at the Woodbury Commons Premium Outlets shopping mall on November 17, 2019 in Central Valley, New York.

Gary Hershorn | Corbis News | Getty Images

Check out the companies making headlines in midday trading Thursday.

Macy’s – Shares jumped 17.8% after the department store chain reported better-than-expected quarterly results and raised its profit guidance. Macy’s got a boost from shoppers who are snapping up apparel and other goods regardless of rising prices.

Twitter – Twitter shares jumped more than 5% after Elon Musk increased his commitment in his takeover bid to $ 33.5 billion. Analysts have said the move indicates a new seriousness by the Tesla CEO and increased probability that he’ll complete the deal, which has been mired in controversy since Musk proposed it in May.

Lululemon – Shares of the athleisure company jumped 10.8% after Morgan Stanley upgraded Lululemon to overweight and said its well-positioned to perform well, even as a recession looms.

Nvidia – The chipmaker’s stock gained 5.6% after falling earlier in the session. It came as Nvidia issued weaker-than-expected guidance for the current quarter and said it plans to slow hiring.

Broadcom – Broadcom’s stock gained 4.2% after the semiconductor company shared its plan to buy VMware in a $ 61 billion cash and stock deal. The acquisition would mark one of the largest technology deals in history.

Dollar Tree – The discount retailer soared 22.3% after posting quarterly earnings and revenue that beat analyst expectations. Dollar Tree reported earnings per share of $ 2.37 on revenues of $ 6.9 billion. Analysts anticipated earnings of $ 2.00 a share on $ 6.76 billion in revenue, according to Refinitiv.

Kraft Heinz – The food and beverage company fell 6.2% after UBS downgraded the stock of fears of rising inflation and competition from private labels.

Alibaba – Alibaba shares surged 14.8% following the release of better-than-expected results for the previous quarter. The Chinese e-commerce giant reported fiscal fourth-quarter earnings of CNY7.95 per share, excluding items, on revenues of CNY204.05 billion. Analysts had anticipated earnings of CNY7.31 a share on CNY199.25 billion in revenue, according to StreetAccount.

Dollar General – The discount retailer’s shares rallied more than 14% on the back of stronger-than-forecast quarterly figures. Dollar General posted first-quarter earnings of $ 2.41 per share on revenue of $ 8.75 billion. Analysts had expected a profit of $ 2.31 per share on revenue of $ 8.7 billion, according to the Refinitiv consensus.

Williams-Sonoma – The home furnishing retailer bounced 14.1% following a beat on revenue and earnings for the previous quarter. Williams-Sonoma also reiterated its guidance for the year.

Nutanix – The cloud company tumbled 21.9% after issuing weak guidance. Nutanix also said it’s facing supply chain issues that have hit hardware partners.

Medtronic – Shares of the medical device fell more than 4% after a weaker-than-expected report for the fiscal fourth quarter. Medtronic reported $ 1.52 in adjusted earnings per share on $ 8.09 billion of revenue. Analysts surveyed by Refinitiv were expecting $ 1.56 per share and $ 8.43 billion in revenue. Medtronic said supply chain issues weighed on results for the quarter.

– CNBC’s Tanaya Macheel, Hannah Miao, Sarah Min and Jesse Pound contributed reporting

Leave a Comment