Check out the companies that make headlines in midday trading.
Outdoor shower bed – The retailer’s shares are said to have fallen 19.8% after it outlined a strategic plan that only prompted confirmed investors’ concerns that the company would have a hard time turning the situation around. its business. Bed Bath has also filed to sell an undisclosed amount of stock in the future.
Show Express shares fell more than 19% after reporting quarterly revenue of $464.4 million, compared with a StreetAccount estimate of $479.6 million. Apparel retailer, wh aichlso cut its full-year guidance, citing challenging macroeconomic conditions.
US Rocket Lab – Stocks up 8.2% after Cowen upgrade the company to excel from market activity, indicating that the stock has risen more than 50%. According to Cowen, Rocket Lab is the leader in the space launch market.
Snap – The social media company saw its stock rise 7% after announced a restructuring plan including a 20% staff cut and a new chief executive officer. The changes come after Snap reported disappointing second-quarter earnings and said it would not issue guidance for the current quarter.
LSB Industries – Shares of US protein company LSB Industries rose 2.2% after UBS starts reporting with buy rating and a 30% increase in the proposed price target. According to UBS, the company benefits from the record spread between low-cost US natural gas and high-priced natural gas in Europe and Asia.
PayPal Holdings – PayPal stock up 2.7% after Bank of America upgrade stock to buy go from neutral and raise his price target to the paying company. The bank said it expects activist Elliott Management to push for more cost-cutting at PayPal, which could boost earnings in the future.
Seagate Technology Holdings – Shares of the data storage company fell more than 4% after Seagate cut its revenue guidance for the current quarter. The company said it expected revenue for the quarter ended September 30 to be between $2.0 billion and $2.2 billion, down from $2.35 billion to $2.65 billion. dollars. The company cited weaker economic trends in parts of Asia.
CrowdStrike Holdings – Shares fell 6.3% despite the cybersecurity company reporting a beat in quarterly profit and revenue expectations, as well as providing an upbeat forecast.
HP Inc. – Shares of the PC maker fell more than 5% after the company reported a drop in revenue amid dwindling spending on electronics. HP’s quarterly earnings were in line with analyst estimates, according to Refinitiv.
Tough – Shares of the pet products retailer fell 7.4% after the company issued weak current-quarter revenue guidance. Chewy reported falling profits for its most recent quarter, but its revenue fell short of expectations. The company expects rising inflation to reduce spending on pet products.
PVH Stocks fell 9% after the owner of apparel brands Tommy Hilfiger and Calvin Klein cut its full-year outlook. At the same time, PVH said it is reducing its global office workforce by 10%.
Baxter International Stocks rose 2% after the healthcare company said its latest syringe-based infusion therapy had been approved by the U.S. Food and Drug Administration.
– Yun Li, Tanaya Macheel, Jesse Pound, Carmen Reinicke, Samantha Subin and Michelle Fox Theobald of CNBC contributed reporting.
