Here’s a look at the companies making headlines in midday trading: Dell Technologies – The software maker’s shares plunged 22% after executives warned its gross margins could come under greater pressure in 2025. Shares rose 1% after the 2025 movie studio report. The bank cited Lionsgate’s decision to spin off its Starz business as a potential catalyst for further margin expansion. Zscaler — Shares of Zscaler rose 5.2% after the cloud security company reported better-than-expected third-quarter profit and revenue. Zscaler reported adjusted earnings of 88 cents per share on revenue of $553 million, while analysts polled by LSEG expected earnings of 66 cents per share on revenue of $535 million. Nordstrom — Shares of Nordstrom rose nearly 4% after the Seattle-based department store reported solid quarterly sales growth and stuck to its full-year forecast. Its discount chain Nordstrom Rack performed better than Nordstrom’s flagship brand, with comparable sales up 7.9% year over year. However, Nordstrom’s quarterly profit fell short of Wall Street expectations. Gap — The apparel retailer reported fiscal first-quarter earnings of 41 cents per share, above the 14 cents expected by analysts polled by LSEG, sending its shares soaring 26%. Gap’s revenue of $3.39 billion also exceeded expectations of $3.29 billion. Ambarella — Shares of Ambarella soared 18% after the chipmaker announced it expects continued revenue growth in fiscal 2025, citing strong demand for artificial intelligence as a catalyst. Ambarella reported a first-quarter profit loss that exceeded analysts’ expectations, and revenue was in line with consensus. Marvell Technologies — The chipmaker’s first-quarter profit missed expectations and its shares plunged 11.8%. Marvell reported earnings of 24 cents per share on revenue of $1.16 billion, missing analysts’ expectations of 25 cents per share on revenue of $1.17 billion, according to LSEG. MongoDB — Shares of MongoDB plunged nearly 25% after the technology company lowered its second-quarter guidance and forecast for the full fiscal year. MongoDB said it expected earnings of 46 cents to 49 cents a share on revenue of $460 million to $464 million, while analysts polled by London Stock Exchange Group (LSEG) expected revenue of $470 million and earnings per share. for 58 cents. The company’s April quarter profit and revenue beat expectations, but consumption growth remained slower than expected. SentinelOne — Shares of SentinelOne fell 15.3% after the cybersecurity company issued a revenue outlook that missed analysts’ expectations. SentinelOne expects its revenue to fall by $808 million to $815 million in 2024, below London Stock Exchange Group’s forecast of $817 million. VF Corporation — Shares of VF Corporation soared 11.7% after the apparel and footwear company announced that Sun Choe will serve as global brand president of Vans starting at the end of July. Choe previously served as Lululemon’s chief product officer. Cooper Companies — Shares of Cooper Companies rose 4.4% after the medical device company reported better-than-expected adjusted second-quarter profit, although its revenue fell short of analysts’ expectations. Cooper also raised guidance for its full-year earnings and revenue outlook. Paycom Software — Shares of Paycom Software fell 7.8% after the payroll company announced a top executive shakeup. Paycom promoted strategic adviser Randy Peck to chief operating officer and revealed the resignation of co-CEO Christopher Thomas. First Solar — Shares of the solar technology company fell 5.2% after Mizuho downgraded the company to neutral from buy. Analyst Maheep Mandloi emphasized that the current strong pricing power appears to have been reflected in the stock’s price. —CNBC’s Hakyung Kim, Yun Li, Jesse Pound and Pia Singh contributed reporting.
