Stocks with the biggest gains at noon: META, VSCO, MSFT, CAT | Wilnesh News
Here’s a look at the companies making headlines in midday trading: Victoria’s Secret — Goldman Sachs has a sell rating on the stock, saying the lingerie company will face “tough macro and ongoing competitive pressures” in the near term. Shares fell 3.5%. Longer term, the company is constructive on the company’s loyalty program and new merchandise focus. Shares of Meta Platforms — the parent company of Facebook — plunged more than 11%. Meta on Wednesday reported lower-than-expected second-quarter revenue guidance, with Chief Executive Mark Zuckerberg talking about spending in areas such as artificial intelligence and mixed reality that are not yet profitable. However, Meta’s first-quarter profit and revenue topped analysts’ expectations. TECHNOLOGY – Shares of major tech giants fell on Thursday as Meta’s bleak revenue outlook led to declines across the industry. Shares of Microsoft and Alphabet fell about 3% and 2% respectively before the after-hours earnings announcement. Amazon shares fell 2%. Monster Beverage — Monster Beverage fell about 3% after JPMorgan downgraded it to neutral from overweight due to “cost pressures.” Honeywell — Shares fell 1.5% after the industrial company reiterated full-year guidance. Honeywell reported adjusted earnings of $2.25 per share, above analysts’ expectations of $2.17 per share. Revenue for the quarter also beat expectations, coming in at $9.11 billion, compared with analysts’ expectations of $9.03 billion. Merck & Co. — The pharmaceutical giant’s shares rose 2% after better-than-expected first-quarter results. Merck’s adjusted earnings per share were $2.07 on revenue of $15.78 billion. Analysts polled by London Stock Exchange Group (LSEG) forecast earnings of just $1.88 per share on revenue of $15.2 billion. Deckers Outdoor — Bank of America cut its rating on the casual footwear maker to “neutral” from “buy,” saying it sees better risk/reward in other areas the company covers. Shares fell 5%. Southwest Airlines — Shares fell more than 7% after both revenue and profit fell. The company reported an adjusted loss of 36 cents per share, higher than LSEG’s forecast of a loss of 34 cents. Revenue of $6.33 billion also missed consensus estimates of $6.42 billion. Management warned that Boeing’s aircraft delays would weigh on its growth in 2025 and lowered its growth guidance accordingly. ServiceNow — The digital workflow company’s first-quarter revenue was just above analysts’ forecasts, sending its shares down 5%. ServiceNow reported revenue of $2.6 billion, slightly above the $2.59 billion expected by analysts polled by LSEG. Adjusted earnings also beat expectations. Chipotle Mexican Grill — Fast-casual burrito chain Chipotle Mexican Grill’s shares rose 5% after first-quarter same-store sales rose 7%, beating StreetAccount’s forecast of 5.2%. International Business Machines — IBM’s revenue fell short of consensus estimates but beat net profit, sending the technology hardware company’s shares down nearly 10%, according to LSEG. IBM also agreed to acquire HashiCorp with an enterprise value of US$6.4 billion, pushing HashiCorp’s stock price up 4.7%. Bank of America reiterated its buy rating on the stock following the earnings release. Caterpillar — Revenue for the latest quarter was $15.8 billion, missing analysts’ expectations of $16.04 billion, according to LSEG, sending shares down 6.5%. The construction equipment maker’s report also revealed soft sales guidance for the second quarter. Nvidia — Shares of the chip giant rose about 3% Thursday despite broader market losses. Nvidia has still not fully recovered from its 10% drop on April 19, and its price remains below pre-selloff levels. Evercore ISI reiterated Nvidia’s outperform and said investors should take advantage of any weakness in the stock and buy the dip. Comcast shares fell more than 6% after quarterly broadband subscriber losses outweighed growth in revenue and net income. Comcast said it lost 65,000 broadband customers during the period. Deutsche Bank – Shares of U.S.-listed Deutsche Bank rose nearly 8% to hit a 52-week high. The German bank reported first-quarter revenue and profit that beat expectations as its investment banking arm continues to recover. —CNBC’s Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh and Michelle Fox contributed reporting. Revealed: Comcast is the parent company of NBCUniversal and CNBC.
