Check out the companies making headlines in midday trading: Dell Technologies – Software stock fell 18% after executives warned its gross margins could face more pressure in 2025. Lionsgate Studios – Shares rose 3% after it started Citi covers the movie studio with a buy rating. The bank pointed to Lionsgate's decision to spin off its Starz business as a potential catalyst for further margin expansion. Zscaler – Shares added 9% after the cloud security company reported fiscal third-quarter earnings and revenue. Zscaler reported adjusted earnings of 88 cents per share on revenue of $553 million, while analysts polled by LSEG expected earnings of 66 cents on revenue of $535 million. Nordstrom – The Seattle-based department store operator saw shares rise 5% after the company reported strong quarterly sales growth and stuck to its full-year forecast. Its lower-priced chain, Nordstrom Rack, outperformed Nordstrom's flagship brand with comparable sales up 7.9% year over year. However, Nordstrom's earnings fell short of Wall Street's expectations for quarterly earnings. The Gap – The apparel retailer rose 29% after reporting fiscal first-quarter earnings per share of 41 cents, higher than the 14 cents expected by analysts surveyed by LSEG. Gap's revenue of $3.39 billion also beat expectations of $3.29 billion. AMBARELLA – Shares rose 21% after the chipmaker announced it expects continued revenue growth in fiscal 2025, citing strong demand for artificial intelligence as a catalyst. Ambarella reported a first-quarter earnings loss that beat analysts' expectations and revenue that was in line with consensus. Marvell Technologies – Stock fell 10% after the chipmaker missed first-quarter earnings expectations. Marvell reported earnings per share of 24 cents on revenue of $1.16 billion, which was shy of the 25 cents EPS on revenue of $1.17 billion that analysts had expected, according to LSEG. MongoDB – Shares fell 24% after the technology company trimmed its guidance for the second quarter as well as its outlook for the full fiscal year. MongoDB said it expects to earn 46 cents to 49 cents per share on revenue of $460 million to $464 million, while analysts polled by LSEG expected $470 million on revenue and earnings of 58 cents per share. The company beat earnings and revenue expectations for the April quarter, but still saw slower-than-expected growth in consumption. SentinelOne – The cybersecurity company fell 13% after releasing a revenue forecast that was weaker than analysts expected. SentinelOne expects its revenue to fall between $808 million to $815 million in 2024, lower than LSEG's forecast of $817 million. VF Corporation – Shares of the apparel and footwear company rose 8% following the announcement that Sun Choe will take over as global brand president for Vans starting in late July. Choi was previously chief product officer at Lululemon. Cooper Companies – The medical device company added 5% after reporting adjusted earnings for its fiscal second quarter, though its revenue fell short of analysts' expectations. Cooper also raised its full-year earnings and revenue forecasts. Paycom Software – Stock fell 9% after the payroll company announced an executive shake-up. Paycom has promoted strategic advisor Randy Beck to chief operating officer and revealed the resignation of co-CEO Christopher Thomas. First Solar – Shares fell 2% after Mizuho downgraded the solar technology company to neutral from buy. Analyst Maheep Mandloi highlighted that the strong pricing power already seems to be reflecting in the share price at the moment. — CNBC's Hakyung Kim, Yun Lee, Jesse Pound and Pia Singh contributed reporting.
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Stocks making the biggest moves at midday: GPS, MDB, DELL
