Target, Kohl’s, Peloton and more

FILE PHOTO: Shoppers walk out of a Target store during the Black Friday sales in Brooklyn, New York, USA, November 26, 2021.

Brendan McDermid | Reuters

Check out the companies making headlines in midday trading.

Objective – Dealer shares fell by more than 4% after the company said it will take a short-term hit to profits as it cancels orders and reduces unwanted merchandise. CEO Brian Cornell said the large retailer wants to free up space for merchandise, including groceries and back-to-school supplies.

by Kohl Shares in the department store rose 8.1% on news that it is in talks with parent company The Vitamin Shoppe to purchase Kohl’s for $ 60 per share, valuing Kohl’s at around $ 8 billion. Franchise groupThe stock gained 7.5%.

group – Shares of the home fitness company fell more than 1% after announcing Jill Woodworth, its chief financial officer, will leave the company after four years. Liz Coddington, a former Amazon and Netflix executive, will take her place starting June 13.

Apple – Apple shares are up about 1% after the WWDC event of the iPhone manufacturer Monday, where it announced its M2 chip, a buy now / pay later offer and CarPlay updates.

BuzzFeed Shares of the media company rebounded 10.7% after plunging about 41% on Monday after the IPO lockout period expired.

GitLab Shares of the cloud-based software provider were up 23.1% on a lower-than-expected loss in the last quarter. GitLab also surpassed revenue estimates and shared a solid revenue guide for the current quarter.

JM Smucker Shares of the food company were up 4.9% after earnings and revenue in the last quarter beat analysts’ estimates. Adjusted earnings per share were 35 cents above analysts’ forecasts.

Combined natural foods Shares of the food wholesaler fell 8% despite United Natural’s third-quarter fiscal results exceeding expectations. The company reported adjusted earnings per share of $ 1.10 on $ 7.24 billion in revenue. Analysts interviewed by Refinitiv were expecting 97 cents of earnings per share on $ 7.1 billion in revenue. Company executives said on an investor call that inflation remains high.

– CNBC’s Tanaya Macheel, Jesse Pound and Yun Li contributed to the reporting