Business

Kohl’s, Broadcom, Lululemon and more


People walk near the entrance to Kohl’s department store on June 7, 2022 in Doral, Florida.

Joe Raedle | beautiful pictures

Check out the companies making the biggest moves at midday:

Kohl’s The retailer’s shares rose 7.8% following a Reuters report that private equity firm Oak Street Real Estate Capital made an offer to acquire Kohl’s $2 billion property and sublease its stores to the retailer. Reuters cited sources familiar with the matter.

Broadcom Broadcom stock rose more than 4% after the chipmaker reported quarterly earnings and revenue that beat analysts’ forecasts and delivered stronger-than-expected revenue guidance for the current quarter. The company’s CEO, Hock Tan, also said they expect demand to continue to grow strongly this quarter.

Lululemon – Shares of apparel company increase by nearly 9% after Lululemon’s earnings spike previous analyst estimates for the second quarter. The company reported $2.20 in adjusted earnings per share on revenue of $1.87 billion. Analysts surveyed by Refinitiv expect earnings per share of $1.87 and revenue of $1.77 billion. Comparative revenue increased 23% year over year and operating margin increased to 21.5%.

Okta – Shares of the cybersecurity company rose 8.4%, recovering some of its big losses from the previous day. Okta rallied 33.7% on Thursday following a series of Wall Street declines, although top and bottom profits both fell in the recent quarter.

Sales force – Shares of the enterprise software maker rose just under 3% after Guggenheim Upgraded stocks to neutral from selling. The Wall Street company boosted its rating after Salesforce sold a 20% discount since it began operations. Last week, Salesforce report number beat quarterly expectations but failed to provide guidance for the current quarter and the entire fiscal year.

PagerDuty PagerDuty jumped 1.22% after reporting better-than-expected quarterly earnings and tight guidance. The operations management software company announced a 7.1% increase in total paying customers from a year ago and a 37.5% increase in the number of customers providing annual recurring revenue in excess of $100,000. la.

Rocket Lab – Shares of Rocket Lab jumped 2.56% after the company announced it had successfully fired a repurposed Rutherford stage engine earlier this week. The engine is a liquid rocket engine designed and manufactured by the space rocket company.

Besides meat Shares of Beyond Meat fell 2.04% after investment firm Baillie Gifford reported a 6.61% stake in the company. This is down from the company’s 13.38% stake as of December 31, 2021.

Energy Stocks – Oil prices rose on Friday, helping stocks of energy companies higher. Among the winners are Halliburtonup 5.15%. Devonian energy, and ConocoPhillips both increased by more than 4%, while Exxon Mobile and Mysterious Oil both increased by about 2%.

– CNBC’s Jesse Pound, Yun Li and Tanaya Macheel contributed to this report.



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