Here’s a look at the companies making headlines in midday trading: Dollar Tree — Shares fell 20% after the discount retailer slashed its full-year net sales and adjusted earnings-per-share forecasts. Dollar Tree noted increasing pressure on middle- and upper-income customers. GitLab — Shares of the software developer soared 17% on strong third-quarter profit prospects. The company forecast earnings of 15 cents to 16 cents per share for the period, above the 11 cents forecast by analysts polled by LSEG. GitLab’s full-year sales outlook is also higher than expected. Zscaler — The cloud security company’s first-quarter profit outlook was weaker than expected, sending the stock down 18%. Zscaler expects earnings per share to be between 62 cents and 63 cents, below analysts’ forecasts of 73 cents per share based on LSEG. The company also expects full-year earnings per share to be in a range of $2.81 to $2.87. That was below analysts’ expectations of $3.33 per share. AST SpaceMobile — Shares of SpaceMobile soared more than 19% after the company said it plans to launch its first five commercial satellites, called Bluebirds, on or after September 12 from Cape Canaveral, Florida. AST SpaceMobile also stated that these satellites will be deployed in low orbit to provide cellular broadband services to billions of people around the world. Asana — Shares plunged 8% as third-quarter and full-year forecasts fell short of expectations. Asana expects third-quarter sales to be between $180 million and $181 million, while analysts expected $182 million, according to LSEG. The company forecast full-year revenue in the range of $719 million to $721 million, below the consensus estimate of $723 million. Dick’s Sporting Goods — Shares of the sporting goods company fell more than 6% on tepid full-year guidance. The retailer expects earnings in a range of $13.55 to $13.90 per share. Meanwhile, analysts polled by FactSet expected earnings of $13.80 per share. Hormel Foods — Shares of Hormel Foods fell more than 7% after the packaged foods company reported weaker-than-expected third-quarter revenue and lowered its full-year outlook. According to FactSet, Hormel reported quarterly revenue of $2.9 billion, below analysts’ expectations of $2.95 billion. Sweetgreen — Shares of the fast-food chain rose 4% after TD Cowen upgraded its rating to buy from hold. As a catalyst, analyst Andrew Charles points to Sweetgreen’s launch of Infinite Kitchens or its autonomous robot kitchens. ASML — shares fell nearly 4% after UBS downgraded the company to neutral from buy. The company expects profit growth to drop into the mid-teens starting in 2026, citing “lithography intensity reaching a plateau” and demand normalizing. AMD — Chip stocks rose 3%, recovering from the previous session’s losses. AMD shares suffered a sharp sell-off in semiconductors on Tuesday, falling 7.8%. —CNBC’s Lisa Kailai Han and Michelle Fox contributed reporting.
