Check out the companies that are making headlines in mid-day trading.
AMC Entertainment – AMC Entertainment shares are in the middle of a roller coaster ride on Friday as they fell 5% after the rally up to 38%. By noon, over 360 million shares had been trading, more than three times the 30-day average. Shares have already risen 120% this week as speculative trading activity has increased, bringing the monstrous rally to 1,200% in 2021.
HP The hardware tech company’s stocks fell more than 8% as HP beat expectations for the first quarter in the upper and lower ranges. Management warned during a call for investors that problems in the semiconductor supply chain could limit the company’s ability to meet demand for some products until at least the end of the year.
Large quantities (BIG) – The discounter’s shares fell 6.78% despite a better-than-expected quarter. Big Lots earned $ 2.62 per share, beating analysts’ estimates of $ 1.69 per share. Sales of $ 1.63 billion also beat estimates. Sales in comparable branches rose by 11.3%.
Foreclosure – The cloud company’s stocks fell more than 6% after winning midday trading in the upper and lower area of the quarterly result. Salesforce made $ 1.21 per share on revenue of $ 5.96 billion. According to Refinitiv, analysts expect earnings of 88 cents per share on sales of 5.89 US dollars. Salesforce also raised its outlook for the full year.
Ulta Beauty The beauty store chain’s shares rose 5.6% at noon after hitting a new 52-week high of $ 351.72 on Friday morning. Ulta posted a blowout financial result for the first quarter after the bell on Thursday and posted earnings of $ 4.07 per share, more than double analysts’ estimate of $ 1.95 per share, according to Refinitiv. The company’s quarterly sales also exceeded Street’s expectations, and Ulta raised its guidance for the full year.
gap – Gap stocks fell more than 5% at noon, despite doing better than expected First quarter result. The company is facing supply chain barriers and difficulties in sourcing raw materials due to the increasing prevalence of Covid cases in countries like India. Gap posted earnings of 48 cents per share on sales of $ 3.99 billion, according to Refinitiv, compared with analysts’ expectations of 5 cents per share on sales of $ 3.45 billion.
Best buy – The electronics firm’s shares fell 2.58% in midday trading, amid strong real estate markets boosting home theater, appliances and computer spending. Analysts warn that if the US continues its reopening plan, consumers may spend more on restaurants could dampen technology spending.
Hibbett Sports – The shoe company’s shares fell 4% despite the company’s stronger-than-expected quarterly results. Hibbett reported earnings of $ 5.00 per share, beating estimates of $ 2.77 per share, according to Refinitiv. Revenue was $ 507 million, above Wall Street’s estimate of $ 413.
– CNBC’s Hannah Miao, Maggie Fitzgerald, Jesse Pound and Yun Li contributed to the coverage
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