A self-checkout station at a Target store in Miami Beach, Florida.
Jeff Greenberg | Universal Image Group | Getty Images
Take a look at the companies making headlines in midday trading:
Target — The retailer’s shares fell more than 7% as sales fell 3% year-on-year and first-quarter profit missed expectations.
analog devices corp. — Shares of the semiconductor maker soared more than 8% after second-quarter results beat analysts’ expectations. Massachusetts-based Analog reported adjusted earnings of $1.40 per share on revenue of $2.16 billion, while analysts polled by FactSet had forecast consensus earnings of $1.26 per share on revenue of $2.11 billion.
Shopping — Shares of Shopify rose more than 3% after Goldman Sachs upgraded the company to a buy rating, with the investment bank noting that Shopify’s current share price provides investors with an attractive entry point.
urban clothing store — Shares of the apparel retailer were higher before the open on Tuesday, but fell 4% despite better-than-expected fiscal first-quarter results. Urban Outfitters reported adjusted earnings of 69 cents per share, above the 52 cents per share expected by analysts polled by LSEG. Revenue of $1.20 billion also topped consensus estimates of $1.18 billion.
Jiaming — Shares of Bank of America fell 4.8% after downgrading its rating to underperform from neutral. The company said shares were “priced to perfection”, raising concerns that current valuations may not be sustainable.
Pinduoduo Holdings — Shares of the Chinese retailer rose about 2% as first-quarter revenue grew 131%.
toll brothers — Shares of the homebuilder fell nearly 8% after its second-quarter earnings beat Wall Street expectations. Toll Brothers earned $4.55 a share on revenue of $2.65 billion, while analysts polled by LSEG had forecast earnings of $4.14 a share on revenue of $2.53 billion.
his and her health — Shares of the digital pharmacy fell nearly 5% after Citi cut its rating to neutral, with the bank claiming that any further gains in the stock were on the back of news that it would add GLP-1 drugs to its platform. reflected in the stock price.
lululemon — Athleisure stocks fell more than 6% after Wall Street Journal report Report It said that the company’s chief product officer was about to leave.
Tesla — Shares of the electric car company led by Elon Musk fell more than 3% after sales in Europe fell to a 15-month low, according to Bloomberg.
First Solar Corporation — Shares soared more than 18% in midday trading. UBS raised its price target on the solar company by more than 7% on Tuesday, arguing that investors are overlooking First Solar’s potential gains from the rise of artificial intelligence. Other alternative energy stocks also rallied, driven in part by enthusiasm that artificial intelligence will boost electricity demand. Bloom Energy soared 18%; Sannova Energy Corporation Add 14%; and Eun Sang Energy, flow energy and Shangrun Both rose by 10%.
williams-sonoma — The home furnishings retailer fell 8% despite beating fiscal first-quarter revenue estimates. The company said it expected full-year revenue to fall 3% to grow 3%, while analysts’ consensus forecast was for a 0.4% decline, according to FactSet.
modern — Shares of the drug developer soared more than 11% to a new 52-week high, marking their eighth straight day of gains. Moderna’s stock price has soared nearly 60% in the past month, including its latest financial results released on May 2.
—CNBC’s Alex Harring and Lisa Kailai Han contributed reporting.
About The Author
