Check out the companies making headlines in midday trading: Nordstrom – The retailer's stock fell 8.1% after CEO Eric Nordstrom said the company saw sales slow, starting in late October. Nordstrom's third-quarter revenue of $3.46 billion came in above the LSEG consensus of $3.35 billion. HP – Shares of the personal computer maker fell more than 11% and were headed for their worst session since 2020 thanks to weaker-than-expected earnings guidance. HP said it expects earnings, excluding items, to be between 70 cents per share and 76 cents per share, versus a FactSet estimate of 85 cents per share. Urban Outfitters – Stock jumped 18.3% after the retailer reported adjusted earnings of $1.10 per share for the third quarter, beating the 86 cents expected by analysts polled by LSEG. Revenue also beat expectations, coming in at $1.35 billion versus the consensus estimate of $1.34 billion. Dell Technologies – The personal computer maker saw shares fall 12.3% after the company reported a revenue loss and forecast fourth-quarter revenue and earnings below Wall Street expectations. Before Tuesday evening's earnings report, Dell shares were up 86% in 2024 as investors saw the company as one of the top companies selling tools and systems to artificial intelligence developers. Cryptocurrency Stocks – Stocks linked to the price of bitcoin rose in midday trading as the cryptocurrency surged back towards $100,000, after a 10% decline earlier this week. Cryptocurrency exchange Coinbase rose 6%, while Bitcoin proxy MicroStrategy advanced 9.9%. Robinhood gained more than 3%. CrowdStrike – The cybersecurity stock fell 4.6% on slightly lighter-than-expected guidance from the company. CrowdStrike expects earnings per share of between 84 cents and 86 cents in the fourth quarter, while analysts expected 86 cents per share, according to LSEG data. The company expects net new annual recurring revenue to rise in the back half of 2025, which may be further than some investors expected, CEO George Kurtz said on a call with analysts. Ambarella – Shares rose 5.9% after the semiconductor design company gave an upbeat outlook for the fourth quarter. Ambarella is looking at revenue between $76 million and $80 million, while analysts surveyed by LSEG expect revenue to reach $69 million. Ambarella's third-quarter adjusted earnings and revenue also exceeded analysts' expectations. Business Day – Shares fell 6.2% after the human resources software company issued weaker-than-expected guidance for the fourth quarter. The company expects subscription revenue of $2.025 billion and an adjusted operating margin of 25%. However, analysts surveyed by StreetAccount expected subscription revenue of $2.04 billion and a margin of 25.5%. Autodesk – The software company fell more than 8% after its fourth-quarter guidance beat analysts' estimates. Autodesk expects earnings per share to range between $2.10 and $2.16, excluding items, and revenue to range from $1.623 billion to $1.638 billion. Analysts surveyed by LSEG were looking for earnings of $2.12 per share on $1.62 billion in revenue. Autodesk has also appointed Ganesh Moorjani as its CFO, effective December 16. SolarEdge Technologies – The clean energy stock jumped 8.5% after the company shuttered its energy storage division. SolarEdge also announced that it would cut 500 jobs, or about 12% of its employees. The stock is down nearly 84% in 2024. Ramsey – Robotics stock is down 35.9% after the company reported accounting errors that delayed a 10K filing. Symbotic also lowered its first-quarter guidance on errors related to cost overruns. — CNBC's Yun Lee, Tanaya Machel, Michelle Fox, Jesse Pound, Samantha Subin and Sean Conlon contributed reporting.
Trending
- Financial stocks are the best-performing stocks of 2024. One corner could outperform
- JWN, DELL, SEDG and more
- Bitcoin bounces back above $96,000 as investors eye $100,000
- Personal consumption expenditures inflation in October 2024
- Moana 2's box office may be the best in years
- Home buyer demand for mortgages jumps 12% after interest rates fall
- OpenAI gets $1.5 billion investment from SoftBank in tender offer
- Fed officials expect future interest rate cuts, but only “gradually,” meeting minutes show
JWN, DELL, SEDG and more
