Microsoft Corporation headquarters in Issy-les-Moulineaux, near Paris, France, April 18, 2016.
Carlo Platiau | Reuters
Check out the companies making headlines in Thursday’s midday trading.
Microsoft – Shares of the tech giant fell 0.6% later Microsoft has cut its earnings and revenue guide for the fiscal fourth quarter. Microsoft cited unfavorable exchange rates as a reason for the move.
Meta Platforms – Facebook’s parent company rose 4.8% after Sheryl Sandberg announced it was leaving his role as chief operating officer. Growth Manager Javier Olivan will take over this fall’s position.
GameStop – Actions of The video game retailer was up 9.4% after the company released its quarterly results. GameStop posted revenue of $ 1.38 billion in its fiscal first quarter, up slightly from $ 1.27 billion in the quarter a year ago. But it also posted a net loss of $ 157.9 million, which is worse than the net loss of $ 66 million in the quarter a year ago.
Gummy – Pet e-commerce company increased 23.3% after posting a windfall profit in the previous quarter. Chewy shared earnings of 4 cents per share on $ 2.43 billion in revenue. Analysts had expected a loss of 14 cents per share on $ 2.42 billion in revenue, according to Refinitiv.
MongoDB Shares of the database platform provider were up 17.8% after the company’s results for the previous quarter exceeded analysts’ expectations. MongoDB reported a windfall profit of 20 cents per share on $ 285 million in revenue. Analysts had expected a loss of 9 cents per share on revenues of $ 267 million.
generic – The shares of the generating company it jumped more than 9.7% after UBS named it one of the top picks. The investment firm said the downside to Generac’s core business was already priced in the market and the company’s drive towards clean energy gave the stock a significant upside.
Hewlett Packard Enterprise – Hewlett Packard Enterprise fell 5.5% after losing analysts’ forecast of revenue and earnings for the previous quarter. The company posted a profit of 44 cents per share on revenue of $ 6.71 billion, compared to a Refinitiv consensus estimate of 45 cents per share on revenue of $ 6.78 billion.
PVH – The apparel company gained 2.5% after beating Wall Street’s forecasts on the top and bottom lines for the previous quarter. The owner of Tommy Hilfiger and Calvin Klein posted a profit of $ 1.94 per share on $ 2.12 billion in revenue, compared to estimates of $ 1.61 cents per share on $ 20.9 billion in revenue.
Ormel foods Shares of Hormel Foods fell 5.2% after the company cut its earnings guide for fiscal year 2022. The food company expects earnings per share to fluctuate between $ 1.87 and $ 1 , 97 after previously driving for a profit of between $ 1.87 per share and $ 2.03 per share.
– CNBC’s Jesse Pound and Yun Li contributed to the reporting