Check out the companies making headlines in midday trading.
Coinbase — Shares of the cryptocurrency exchange fell 1.4% even after Coinbase reported a smaller-than-expected loss for the fourth quarter. Coinbase lost $2.46 per share on $629 million of revenue. Analysts surveyed by Refinitiv were expecting a loss of $2.55 per share on $590 million of revenue. Subscription and services revenue rose 34% quarter over quarter but trading volumes declined.
WATCH ANYTIME FOR FREE
Stream NBC10 Boston news for free, 24/7, wherever you are. |
Palo Alto Networks — The software company's stock gained more than 12% after its fiscal second-quarter earnings and revenue beat analysts' estimates. Adjusted earnings per share came in at $1.05, versus the 78 cents expected by analysts polled by Refinitiv.
Dick's Sporting Goods — The sports retailer's stock finished flat after rising briefly on news that it's buying e-commerce outdoor retailer Moosejaw from Walmart. Shares of Walmart dipped about 2%.
Get updates on what's happening in Boston to your inbox. Sign up for our News Headlines newsletter.
CoStar Group — The commercial real estate stock fell more than 5% after the company issued guidance for the current quarter that fell short of analysts' estimates, according to StreetAccount.
Amazon — Shares of the e-commerce giant rose 1.3% after the company closed a deal to buy primary care provider One Medical. Amazon agreed to acquire One Medical in July as part of its efforts to deepen its presence in health care.
La-Z-Boy — Shares gained 15.1% after its adjusted earnings per share for the fiscal third quarter came in at 91 cents, topping analysts' estimates of 66 cents, according to FactSet. The furniture maker's revenue came out to $572.7 million, higher than the expected $529.6 million.
Money Report
Toll Brothers — Shares of the homebuilding company added more than 3% after it beat Wall Street's revenue and earnings expectations for the recent quarter, according to Refinitiv. Toll Brothers also said that it has seen a rise in demand since the start of 2023.
Charles River Laboratories International — Shares lost 10% after the pharmaceutical company said it suspended shipments of Cambodian non-human primates (NHP) it used in research due to a Justice Department investigation into the supply chain. Those supply constraints will weigh on its 2023 revenue growth, the company said.
Wingstop — Wingstop shares jumped 7.7% after topping analysts' estimates for the recent quarter, according to FactSet. The fast-food chain also reaffirmed its same-store sales growth expectations for the next three to five years.
TJX — The off-price retailer's stock slipped 1.7% after TJX it reported a mixed quarter and shared earnings guidance for the current period that fell short of analysts' expectations, according to StreetAccount.
Baidu — U.S.-listed shares of the Chinese tech company fell 2.6%, despite Baidu topping revenue estimates for the recent quarter. The company also revealed a $5 billion buyback program and provided an update on its conversational chatbot to rival ChatGPT.
Alcoa — Alcoa shared rose 1.9% following after Citi upgraded the aluminum producer to a buy from a neutral rating, saying should benefit from China's economic reopening.
Garmin — Shares of the fitness tracker maker gained 4.1% after Garmin reported fourth-quarter earnings that beat consensus estimates. The company posted consolidated revenue of $1.31 billion and adjusted earnings per share of $1.35. Analysts surveyed by FactSet had expected $1.30 billion in revenue and earnings per share of $1.19.
Wix.com — Shares of the website developer company surged nearly 12.4% after beating analysts' estimates for the fourth quarter, according to FactSet.
Intel — The chip stock fell more than 2% after Intel cut its quarterly dividend by more than 65%.
Keysight Technologies — Shares of the electronics testing and measurement company plunged nearly13% after the firm issued a weaker-than-expected outlook for the fiscal second quarter. Keysight's adjusted earnings per share and revenue for the latest quarter beat expectations, however, according to FactSet.
Stellantis — The auto stock gained nearly 4% after Stellantis posted results for the full year that surpassed analysts' expectations, according to FactSet. Stellantis also announced a 1.5 billion euro share repurchase program.
— CNBC's Tanaya Macheel, Michelle Fox, Pia Singh, Jesse Pound and Yun Li contributed reporting