Here’s a look at the companies making headlines in midday trading: Super Micro Computer — The artificial intelligence server company said it would delay filing a Form 10-K for the fiscal year ending June 30, sending shares down 26% . Super Micro Computer said its management needed more time “to complete an evaluation of the design and operating effectiveness of its internal control over financial reporting.” Hindenburg Research disclosed a short position in the stock on Tuesday. Neurocrine Biosciences — The biopharmaceutical stock plunged 19%. The company reported positive Phase 2 data for its drug targeting adults with schizophrenia, but investors are concerned about whether the results can be replicated in other trials. “The numbers are clearly more confusing than hoped for,” Stiefel said in a note Wednesday. Abercrombie & Fitch — Chief Executive Fran Horowitz warned of an “increasingly uncertain environment,” suggesting the company is preparing for the second half of 2024. Bracing for turmoil, the retailer’s shares fell 17%. In anticipation, Abercrombie raised its full-year sales outlook. Chewy — Shares of Chewy rose about 16% after the pet retailer reported better-than-expected second-quarter results. Chewy reported adjusted earnings before interest, taxes, depreciation and amortization of $144.8 million. Analysts polled by FactSet expected EBITDA of $111.7 million. AeroVironment — Shares soared 11%. The drone maker secured a nearly $1 billion contract from the U.S. Army to “provide infantry formations with an organic standoff capability to destroy tanks, lightly armored vehicles, hardened targets, cover and personnel targets,” the news broke. Later, Baird also upgraded AeroVironment’s performance from “neutral” to “outperform.” nCino — The cloud-based banking platform reported third-quarter guidance that fell short of Wall Street expectations, sending the stock down 12%. The company forecast third-quarter adjusted earnings of 15 cents to 16 cents per share, slightly below the 16 cents per share expected by analysts polled by FactSet. The company also forecast revenue of $136 million to $138 million, below the consensus estimate of $138.6 million. Ambarella — Shares of the semiconductor developer rose more than 10% after the company forecast third-quarter revenue of $77 million to $81 million. That was higher than the $69 million expected by analysts polled by LSEG. Ambarella also announced better-than-expected second-quarter results. Foot Locker — Shares of Foot Locker plunged about 12% after the retailer missed Wall Street expectations for the second quarter. Foot Locker reported an adjusted loss of 5 cents per share on revenue of $1.9 billion. Analysts had expected a loss of 7 cents per share on revenue of $1.89 billion, according to LSEG. Nordstrom — Shares of Nordstrom rose more than 4% after the retailer beat second-quarter adjusted profit expectations. Nordstrom also raised the lower end of its full-year outlook. The company now expects fiscal 2024 adjusted earnings per share of $1.75 to $2.05 per share, compared with the previous guidance range of $1.65 to $2.05 per share. JM Smucker — The stock fell about 5% after the consumer food company lowered its full-year guidance. JM Smucker now expects earnings per share of $9.60 to $10 per share for the fiscal year ending in April 2025, down from its previous forecast of $9.80 to $10.20 per share. Bath & Body Works — Shares of Bath & Body Works fell more than 6% after the fragrance seller reported lower-than-expected second-quarter revenue. Bath & Body Works reported second-quarter adjusted earnings of 37 cents per share on revenue of $1.53 billion. Analysts had expected earnings of 36 cents per share on revenue of $1.54 billion, according to FactSet. Box — Shares of Box rose 8% after the cloud storage company reported better-than-expected second-quarter results. Box reported adjusted earnings of 44 cents per share on revenue of $270 million. Analysts polled by LSEG expected earnings of 40 cents per share on revenue of $269 million. PVH — The company that owns Tommy Hilfiger and Calvin Klein reported a disappointing third-quarter outlook and its shares fell 7%. PVH said it expected third-quarter adjusted earnings of $2.50 per share, well below the $3.12 per share expected by analysts polled by LSEG. The retailer also forecast that its revenue would be down 6% to 7% from the same period last year, while analysts expected a 4.6% decline. Kohl’s — Shares of Kohl’s rose 2% after the retailer beat second-quarter profit estimates. Kohl’s earned 59 cents a share in the period, above the 45 cents a share expected by analysts polled by LSEG. However, the company’s revenue of $3.53 billion was below analysts’ expectations of $3.58 billion. Berkshire Hathaway — Shares of Warren Buffett’s conglomerate rose nearly 1%, surpassing the $1 trillion mark for the first time. It is the first non-tech company in the United States to achieve this milestone. Just two days before the Oracle of Omaha’s 94th birthday, the U.S. dollar passed the $1 trillion threshold. The group’s shares have risen 28% this year, significantly outperforming the S&P 500 Index. —CNBC’s Samantha Subin, Hakyung Kim, Yun Li and Pia Singh contributed reporting.
