See which companies are trending in noon trade.
CrowdStrike – Cybersecurity firm CrowdStrike saw a sharp rise of over 15% after exceeding Wall Street’s quarterly projections and providing robust guidance. The company reported adjusted earnings of 95 cents per share on $845 million in revenue. Additionally, CrowdStrike reiterated its goal of reaching $10 billion in annual recurring revenue by 2030.
JD.com – Chinese e-commerce giant JD.com surged nearly 19% following a quarterly revenue increase announcement. The company also unveiled a $3 billion share purchase program set to commence this month and run until March 2027.
Nordstrom – Retailer Nordstrom’s stock plummeted by 14% after issuing a conservative outlook for 2024. The company expects full-year revenue to range from a 2% decline to a 1% gain compared to the previous year.
Thor Industries – Shares of recreational vehicle manufacturer Thor Industries dropped by 11% after reporting quarterly revenue below market expectations. In the second quarter, the company posted revenue of $2.21 billion, lower than the FactSet consensus estimate of $2.27 billion.
Foot Locker – Foot Locker’s stock tumbled by 27.6% after the sneaker retailer reported a loss for the fourth quarter and provided a weak outlook for the current year. The company anticipates adjusted earnings per share for the year to be between $1.50 and $1.70, falling short of estimates.
HashiCorp – Software company HashiCorp’s shares rose by 10.8% following better-than-expected quarterly results. In the fourth quarter, the company reported adjusted earnings of 5 cents per share on revenue of $156 million, surpassing analyst expectations.
Bank stocks – U.S. bank stocks declined as a group on reports indicating that regulators could reduce capital requirements for banks. PNC Financial Services Group, Northern Trust, Morgan Stanley, and M&T Bank all experienced stock price drops.
Couchbase – Cloud database service provider Couchbase recorded a 3.4% increase in shares after reporting quarterly results that exceeded estimates. The company posted a narrower-than-expected non-GAAP per-share loss and revenue that topped analyst estimates.
Coinbase Global – Shares of cryptocurrency exchange Coinbase Global rose by over 6% as crypto prices surged. Bitcoin and Ether experienced significant price increases.
ChargePoint Holdings – Electric vehicle charging station company ChargePoint’s shares plunged by more than 9% due to disappointing guidance for the first quarter. The company’s revenue forecast fell below analyst expectations.
Box – Cloud content management company Box saw a 6% increase in shares after beating quarterly earnings expectations. The company’s fourth-quarter earnings per share exceeded analyst forecasts, while revenue matched expectations.
Gitlab – Software company GitLab’s shares rose by 6.8% after receiving an upgrade to “outperform” from Wolfe Research, citing significant potential upside for the company.
Brown-Forman – Spirits and wine company Brown-Forman, known for Jack Daniel’s, witnessed a 9.7% drop in shares after lowering its annual organic net sales forecast.
Palantir Technologies – Software platform builder Palantir Technologies’ stock rose by 8.9% following a $178.4 million contract from the U.S. Army for the development of AI-powered ground stations under the project named Titan.
Target – Retailer Target’s shares climbed by 3.8% after receiving upgrades from HSBC and Deutsche Bank, following strong quarterly results.
Super Micro Computer – Data center company Super Micro Computer experienced a 4.2% increase in shares after receiving a buy rating from Argus.
Tesla – Electric vehicle maker Tesla’s shares declined by 2.7% after an analyst cut the company’s price target, citing potential losses due to competition from hybrid cars.
Abercrombie & Fitch – Apparel retailer Abercrombie & Fitch’s shares fell by 1.3% despite exceeding expectations in the latest quarterly results.
Oddity Tech – Consumer tech company Oddity Tech’s shares dropped by over 7% despite surpassing expectations in the recent quarterly results and providing strong guidance for the first quarter and full year.
Source (CNBC)
