Microsoft Corporation Headquarters in Issy-les-Moulineaux, near Paris, France, April 18, 2016.
Carles Plats | Reuters
Check out the companies listed in the headlines at noon Thursday trading.
Microsoft: Technology giant shares fell 0.6% after Microsoft cut its earnings and earnings target 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% after Sheryl Sandberg announced it would step down as chief operating officer. Growth director Javier Olivan will step down this fall.
GameStop: Video game retailer shares rose 9.4% after the company released its quarterly results. GameStop reported revenue of $ 1.38 billion in its first fiscal quarter, slightly more than the $ 1.27 billion it recorded last quarter. But it also posted a net loss of $ 157.9 million, worse than the net loss of $ 66 million in the quarter last year.
Chewy: The pet e-commerce company rose 23.3% after reporting an unexpected profit in the previous quarter. Chewy shared earnings of 4 cents per share with revenue of $ 2.43 billion. According to Refinitiv, analysts expected a loss of 14 cents per share with revenue of $ 2.4 billion.
MongoDB: Database platform vendor shares rose 17.8% after the company’s previous quarter’s results exceeded analysts’ expectations. MongoDB reported an unexpected profit of 20 cents per share with revenue of $ 285 million. Analysts had predicted a loss of 9 cents per share with revenue of $ 267 million.
Generac – The shares of the generating company rose more than 9.7% after UBS named it one of the best options. The investment firm said the downside of Generac’s core business was already priced in the market and that the company’s push towards clean energy led to a significant increase in shares.
Hewlett Packard Enterprise: Hewlett Packard Enterprise fell 5.5% after missing analysts’ earnings and earnings forecasts for the previous quarter. The company reported a profit of 44 cents per share with revenue of $ 6.7 billion, compared to the consensus estimates of Refinitiv of 45 cents per share with revenue of $ 6.78 billion.
PVH: The clothing company added 2.5% after surpassing Wall Street’s forecast for the top and bottom lines of the previous quarter. Tommy Hilfiger and Calvin Klein owner reported a profit of $ 1.94 per share with revenue of $ 2.12 billion, compared to estimates of $ 1.61 cents per share with revenue of $ 20.9 billion.
Hormel Foods: Hormel Foods shares fell 5.2% after the company lowered its tax profit target for 2022. The food company expects earnings per share to range from 1.87 to $ 1.97 after targeting $ 1.87 per share and $ 2.03 per share.
– CNBC’s Jesse Pound and Yun Li contributed to the reports