Stocks making the biggest moves midday: PagerDuty, Dell, Tesla, Broadcom and more

Stock Market

A sign is posted in front of a Broadcom office on June 03, 2021 in San Jose, California.
Justin Sullivan | Getty Images

Check out the companies making headlines in midday trading.

VMware — The cloud services company slid 2.6%, a day after giving a mixed second-quarter report. While VMware surpassed expectations for earnings per share, it missed on revenue.

Lululemon Athletica  — The stock popped 5.2% after the athletic apparel retailer reported an earnings beat following Thursday’s close. Fiscal second-quarter earnings per share came in at $2.68, versus the $2.54 expected from analysts polled by Refinitiv. Revenue was $2.21 billion, topping estimates of $2.17. Lululemon also upped its guidance for the year.  

Broadcom — The chip stock lost 5% after the company issued fiscal fourth-quarter revenue guidance that was slightly below Wall Street estimates amid concerns about competition in the networking chip space. Broadcom did report better-than-expected earnings and revenue for the latest quarter, however.

Papa John’s — The pizza chain climbed 2% following a Wedbush upgrade to outperform from neutral. The firm said shares were too cheap.

PagerDuty — The stock declined 6.7% after PagerDuty issued third-quarter earnings guidance that missed analyst expectations. The company expects earnings per share between 13 and 14 cents for the quarter, below a StreetAccount consensus of 15 cents per share. Baird also downgraded PagerDuty to neutral from outperform, saying its shares are in the “penalty box.”

A-Mark Precious Metals — Shares of the precious metals trading company soared 12.2% in midday trading after the company posted its latest quarterly results and announced a $1 per share special dividend. Revenue totaled $3.16 billion, exceeding expectations of $2.31 billion. The company’s earnings per share came out at $1.71, however, which was lower than analysts’ expectations of $1.76, according to StreetAccount.

Dell Technologies — Dell Technologies surged 22.4% on Friday after exceeding analysts’ second-quarter expectations. The computer company reported adjusted per-share earnings of $1.74 and revenue of $22.93 billion. Analysts polled by Refinitiv anticipated per-share earnings of $1.14 and $20.85 billion. Morgan Stanley also named Dell a top pick in IT hardware.

Walgreen Boots Alliance — The drugstore chain declined 5.2% in midday trading Friday after the company announced that Roz Brewer had stepped down as the company’s chief executive and left the board.

Tesla — Shares of Tesla dropped 4.5% after the electric vehicle maker cut prices for some Model S and Model X vehicles in China.

MongoDB — MongoDB gained 5.9% after topping Wall Street expectations in its latest quarter. The database software maker posted adjusted earnings of 93 cents per share on revenue totaling $423.8 million for the second quarter. Those results topped expectations of 46 cents earnings per share and $393 million in revenue, according to a consensus estimate from Refinitiv.

— CNBC’s Yun Li, Alex Harring and Michelle Fox Theobald contributed reporting.

Articles You May Like

From climate to cyber to politicization, mega trends impacting municipal market
Israel has set date for Rafah offensive, Benjamin Netanyahu says
California sells $1.5B GOs into mixed market while mutual funds report inflows
Oil prices drop as traders shrug off fears of wider war in Middle East
Iran launches ‘unprecedented’ missile and drone attack on Israel