Stocks making the biggest moves midday: PD, DELL, TSLA


A sign is posted in front of a Broadcom office on June 03, 2021 in San Jose, California.

Justin Sullivan | Getty Images

Check out the companies making headlines in midday trading.

VMware — The cloud services company slid 2.6%, a day after giving a mixed second-quarter report. While VMware surpassed expectations for earnings per share, it missed on revenue.

Lululemon Athletica  — The stock popped 5.2% after the athletic apparel retailer reported an earnings beat following Thursday’s close. Fiscal second-quarter earnings per share came in at $2.68, versus the $2.54 expected from analysts polled by Refinitiv. Revenue was $2.21 billion, topping estimates of $2.17. Lululemon also upped its guidance for the year.  

Broadcom — The chip stock lost 5% after the company issued fiscal fourth-quarter revenue guidance that was slightly below Wall Street estimates amid concerns about competition in the networking chip space. Broadcom did report better-than-expected earnings and revenue for the latest quarter, however.

Papa John’s — The pizza chain climbed 2% following a Wedbush upgrade to outperform from neutral. The firm said shares were too cheap.

PagerDuty — The stock declined 6.7% after PagerDuty issued third-quarter earnings guidance that missed analyst expectations. The company expects earnings per share between 13 and 14 cents for the quarter, below a StreetAccount consensus of 15 cents per share. Baird also downgraded PagerDuty to neutral from outperform, saying its shares are in the “penalty box.”

A-Mark Precious Metals — Shares of the precious metals trading company soared 12.2% in midday trading after the company posted its latest quarterly results and announced a $1 per share special dividend. Revenue totaled $3.16 billion, exceeding expectations of $2.31 billion. The company’s earnings per share came out at $1.71, however, which was lower than analysts’ expectations of $1.76, according to StreetAccount.

Dell Technologies — Dell Technologies surged 22.4% on Friday after exceeding analysts’ second-quarter expectations. The computer company reported adjusted per-share earnings of $1.74 and revenue of $22.93 billion. Analysts polled by Refinitiv anticipated per-share earnings of $1.14 and $20.85 billion. Morgan Stanley also named Dell a top pick in IT hardware.

Walgreen Boots Alliance — The drugstore chain declined 5.2% in midday trading Friday after the company announced that Roz Brewer had stepped down as the company’s chief executive and left the board.

Tesla — Shares of Tesla dropped 4.5% after the electric vehicle maker cut prices for some Model S and Model X vehicles in China.

MongoDB — MongoDB gained 5.9% after topping Wall Street expectations in its latest quarter. The database software maker posted adjusted earnings of 93 cents per share on revenue totaling $423.8 million for the second quarter. Those results topped expectations of 46 cents earnings per share and $393 million in revenue, according to a consensus estimate from Refinitiv.

— CNBC’s Yun Li, Alex Harring and Michelle Fox Theobald contributed reporting.



Read More: Stocks making the biggest moves midday: PD, DELL, TSLA

2023-09-01 16:44:30

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