Sunday, April 21, 2024
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Midday Stock Trading: Largest Moves

Look at the companies grabbing attention during midday trade.

Cintas – Following the release of the company’s 2024 fiscal first-quarter earnings, shares dropped 4.8%. According to StreetAccount, the corporate apparel manufacturer reported $3.70 earnings per share on $2.34 billion in revenue, exceeding analysts’ consensus predictions of $3.67 per share in earnings and meeting revenue projections. Cintas increased its full-year guidance, although the bottom end of its EPS and revenue forecasts came in below analysts’ expectations.

Pinterest: Shares of the photo-sharing website increased by over 1% after HSBC started covering the company with a buy rating. Pinterest has “the correct management team in place, a product fit for shopping, and a differentiated capital-light approach to deliver on its venture into social commerce,” according to the Wall Street company.

Shares of United Natural Foods fell 24% on Tuesday after the company stated that profitability challenges would result in earnings per share and adjusted EBITDA for the upcoming year that were below analysts’ expectations.

SiriusXM — Following reports that Liberty Media had asked SiriusXM’s special committee of independent directors to merge the two corporate structures into one, shares of the media business fell 4%.

Source (CNBC)

SourceCNBC
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