A look at companies making waves in midday trading: Dollar General – Shares of the discount retailer fell nearly 30% after the company sharply cut its full-year sales and profit outlook. Dollar General CEO Todd Vasos said the sales slump was due in part to core customers feeling “financially constrained.” The company also reported disappointing second-quarter results. Shares of rival Dollar Tree fell more than 9% in tandem. Affirm – Shares soared 34% after the pay-later company issued a better-than-expected first-quarter earnings outlook. Affirm now expects revenue of $640 million to $670 million for the period, beating the $625 million expected by analysts surveyed by LSEG. Best Buy – Shares surged 15%. Best Buy raised its fiscal year profit outlook. The company now expects adjusted earnings of $6.10 to $6.35 per share, higher than the previous range of between $5.75 to $6.20 per share. Its second-quarter results also beat expectations. Nutanix – Shares soared 20% after the cloud infrastructure company’s fourth-quarter earnings and revenue beat expectations. Nuatanix earned adjusted earnings of 27 cents per share on revenue of $548 million. Analysts had expected earnings of 20 cents per share on revenue of $537 million, according to LSEG. Okta – Shares of the secure identity cloud platform plunged about 16%. Okta billed $651 million, below analysts’ consensus estimate of $679 million, according to StreetAccount. Bank of America double-downgraded the stock to underperform from a buy recommendation following Okta’s financial results. Birkenstock – The sandal company’s shares fell 16%. Birkenstock reaffirmed its full-year sales guidance, now expecting growth of about 19%. But its third-quarter adjusted earnings fell short of market expectations. Pure Storage – The data storage company’s shares tumbled 13%. Pure Storage issued a third-quarter operating profit outlook that fell short of analysts’ expectations. For the current period, Pure Storage expects operating income to be $140 million, while analysts surveyed by FactSet expect $148.1 million. NVIDIA – The semiconductor giant’s shares fell more than 3% despite its second-quarter results beating market expectations. NVIDIA reported adjusted earnings of 68 cents per share on revenue of $30.4 billion. Analysts surveyed by LSEG had expected 64 cents per share on revenue of $28.7 billion. But the AI company’s third-quarter sales outlook fell short of investors’ lofty expectations. Veeva Systems – Shares rose nearly 9% after the cloud-computing company beat market expectations in second-quarter earnings and revenue. Veeva reported adjusted earnings of $1.62 per share and revenue of $676.2 million. Analysts had expected $1.53 per share and revenue of $667.8 million, according to FactSet. Crowdstrike – Shares jumped 5% after the cybersecurity company reported better-than-expected earnings and revenue in the latest quarter. But Crowdstrike lowered its full-year outlook following a global outage last month. HP Inc. – HP shares rose more than 4%. Third-quarter revenue was $13.52 billion, LSEG said, beating the consensus estimate of $13.38 billion. Adjusted earnings were 83 cents per share, below analysts’ expectations of 86 cents. Victoria’s Secret – Shares of the lingerie maker fell more than 1%. While the company raised its full-year outlook, it still expects net sales to fall 1% year over year. Analysts surveyed by LSEG now expect a 2.8% drop, after a previous forecast for a “low single-digit” decline. — CNBC’s Samantha Subin, Yun Lee, Pia Shin and Ha-Kyun Kim contributed to this report.
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