Take a look at the companies making headlines in midday trading. Intel — Shares of the chipmaker rose 8.5% on news that Intel is working with bankers to explore options to address weaknesses in its core business. Elastic NV – The stock plunged more than 27% after its fiscal second-quarter revenue forecast missed Wall Street expectations. The artificial intelligence search company now expects revenue in the range of $353 million to $355 million in the period. Analysts polled by London Stock Exchange Group (LSEG) estimated the value at $361 million. MongoDB – Shares of the developer data platform surged about 16% after the company reported better-than-expected second-quarter earnings and revenue. MongoDB earned 70 cents a share, excluding projects, on revenue of $478 million, while analysts expected profits of 49 cents a share on revenue of $464 million, according to LSEG. The company also expects third-quarter revenue to be between $493 million and $497 million, well above analysts’ expectations of $479 million. Profit for the current quarter is also expected to be higher than expected. Alnylam Pharmaceuticals – shares fell about 9% after the company reported positive Phase 3 results for its heart disease drug vutrisiran, marketed as Amvuttra. However, the results disappointed investors. Cantor Fitzgerald wrote in a note that the data did not appear to be a clear “win” compared with rival treatments such as BridgeBio Pharma’s acoramidis. After the results were announced, BridgeBio shares rose approximately 10.6%. Marvell Technology – Shares rose more than 8% after its third-quarter forecast beat expectations. Marvell expects adjusted earnings per share of 40 cents on revenue of $1.45 billion. Analysts polled by London Stock Exchange Group (LSEG) expected a price of 38 cents on $1.4 billion. Alibaba – The e-commerce company’s U.S.-listed shares rose nearly 3% after China’s market regulator said the company had completed a three-year regulatory process. Alibaba was previously fined by regulators in 2021 as part of an antitrust investigation. Dell — Shares of Dell rose more than 5% after the company reported better-than-expected second-quarter profit and revenue. Dell also expects revenue for the current quarter to be in line with expectations, according to StreetAccount. Ulta Beauty – Shares of the beauty retailer fell more than 2% after reporting its first profit decline in four years. Ulta also lowered its full-year guidance after same-store sales fell last quarter. StreetAccount data showed that comparable sales fell 1.2% in the second quarter, compared with an 8% increase in the same period last year, well below the 1.2% growth expected by Wall Street analysts. —CNBC’s Yun Li, Hakyung Kim and Jesse Pound contributed reporting.
