Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016.
Charles Platiau | Reuters
Check out the companies making headlines in midday trading Thursday.
Microsoft — Shares of the technology giant slipped 0.6% after Microsoft cut its earnings and revenue guidance for the fiscal fourth quarter. Microsoft cited unfavorable foreign exchange rates as the reason for the move.
Meta Platforms — Facebook’s parent company rose 4.8% after Sheryl Sandberg announced she is leaving her role as chief operating officer. Chief growth officer Javier Olivan will take over the position this fall.
GameStop — Shares of the video game retailer rallied 9.4% after the company posted its quarterly results. GameStop reported $1.38 billion in revenue in its first fiscal quarter, up slightly from the $1.27 billion it reported in the year-ago quarter. But, it also reported a $157.9 million net loss, which is worse than the $66 million net loss in the year-ago quarter.
Chewy — The pet e-commerce company soared 23.3% after reporting an unexpected profit in the previous quarter. Chewy earnings of 4 cents per share on $2.43 billion in revenue. Analysts expected a loss of 14 cents per share on $2.42 billion in revenue, according to Refinitiv.
MongoDB — The database platform provider’s stock surged 17.8% after the company’s results for the previous quarter topped analyst expectations. MongoDB reported an unexpected profit of 20 cents per share on $285 million in revenue. Analysts had anticipated a loss of 9 cents per share on revenues of $267 million.
Generac – The generator company’s stock jumped more than 9.7% after UBS named it a top pick. The investment firm said the downside for Generac’s core business was already priced into the market, and the company’s push into clean energy gave the stock a significant upside.
Hewlett Packard Enterprise — Hewlett Packard Enterprise dropped 5.5% after missing analysts’ forecasts on the revenues and earnings for the previous quarter. The company reported a profit of 44 cents per share on revenues of $6.71 billion, compared with a Refinitiv consensus estimates of 45 cents per share on $6.78 billion in revenue.
PVH — The apparel company added 2.5% after beating Wall Street’s forecast on the top and bottom lines for the previous quarter. The Tommy Hilfiger and Calvin Klein owner reported a profit of $1.94 per share on $2.12 billion in revenue, compared to estimates of $1.61 cents a share on $20.9 billion in revenue.
Hormel Foods — Shares of Hormel Foods fell 5.2% after the company trimmed its fiscal 2022 earnings guidance. The food company expects earnings per share to range between $1.87 and $1.97 after previously guiding for a profit between $1.87 per share and $2.03 per share.
— CNBC’s Jesse Pound and Yun Li contributed reporting