Here’s a look at the companies making headlines in midday trading: CrowdStrike — The cybersecurity company’s shares jumped 9% after posting a strong outlook and better-than-expected first-quarter results. CrowdStrike reported adjusted earnings of 93 cents per share on revenue of $921 million, above the 89 cents per share on revenue of $905 million forecast by analysts surveyed by LSEG. Hewlett Packard Enterprise — The technology stock rose 12% to hit a new 52-week high after beating profit expectations. Hewlett Packard Enterprise reported adjusted earnings of 42 cents a share on revenue of $7.2 billion, while analysts polled by LSEG expected earnings of 39 cents a share on revenue of $6.82 billion. Dollar Tree — Shares of the discount retailer fell more than 4% after second-quarter guidance fell short of expectations. Dollar Tree said it expected adjusted earnings per share to be between $1 and $1.10, while analysts polled by FactSet expected earnings of $1.19 per share. The company also said it was exploring the possibility of selling its Family Dollar unit. GameStop — Meme rose 15% after falling 5.4% in the previous session. The stock is up more than 30% so far this week. The speculative rally was initially sparked by GameStop champion “Roaring Kitty,” who posted a screenshot of his portfolio holding a large number of shares and call options in the video game retailer. AMC, another meme name, rose 8.5% on Wednesday. Riot Platforms – Shares of the Bitcoin miner fell about 5% after Kerrisdale Capital disclosed its short position in the company. Kerrisdale said in a post on social media site Brown-Forman — The liquor seller reported poor fourth-quarter revenue and its shares fell 5.5% to a 52-week low. Brown-Forman’s revenue for the three-month period was $964 million, below the $1.03 billion consensus forecast by analysts polled by FactSet. WalkMe – Shares of the software company soared 42% after SAP announced it had agreed to acquire WalkMe in an all-cash deal valued at $1.5 billion. The transaction is expected to close in the third quarter of 2024. Archer Aviation – Archer Aviation, a maker of electric vertical take-off and landing aircraft, received a key certification from the Federal Aviation Administration, moving it one step closer to carrying passengers, sending its shares up 7%. Verint Systems — The customer experience automation platform soared 20% after reporting stronger-than-expected earnings and raising full-year guidance. Verint reported first-quarter adjusted earnings of 59 cents per share on revenue of $221.3 million. Analysts surveyed by London Stock Exchange Group (LSEG) had expected earnings of just 54 cents per share on revenue of $214.5 million. PVH — The fashion stock rose nearly 3% on better-than-expected first-quarter financial results. Tommy Hilfiger’s parent company reported adjusted earnings of $2.45 per share on revenue of $1.95 billion, while analysts polled by LSEG forecast earnings of $2.16 per share on revenue of $1.93 billion. PVH also raised its full-year earnings per share forecast while reiterating revenue guidance for the period. Applied Materials (KLA) – Semiconductor stocks rose 4.8% and 3.7% after Barclays upgraded the stock to equal weight from underweight. Barclays pointed to growth in Chinese spending as a catalyst for the stock market. TSMC — Shares of Taiwan Semiconductor Manufacturing Co. rose nearly 7% after Barclays raised its price target on the stock to $170 per share from $150. The company said a new generation of more advanced wafers, called 2nm, should benefit the semiconductor maker given its dominant market share. Hanesbrands — Shares of Hanesbrands rose 3.5% after the apparel maker signed an agreement to sell its Champion brand to Authentic Brands Group. The deal is valued at $1.2 billion, including contingent cash consideration. Old Dominion Freight Line – The freight stock rose nearly 3% after BMO Capital Markets initiated an outperform rating on the company in a report Wednesday. Analyst Fadi Chamoun believes that the industry is expected to benefit from long-term tailwinds such as consolidation and potential nearshoring of manufacturing. Nvidia — Shares of the artificial intelligence darling rose nearly 3% after Bank of America reiterated a buy rating on the stock. The company said that Nvidia remains the first choice and the most capable of helping the information technology industry provide artificial intelligence services. Jazz Pharmaceuticals — Shares of Jazz Pharmaceuticals rose about 2% after Goldman Sachs initiated a buy rating on the stock. Goldman Sachs said the company has a “compelling pipeline.” LifeMD — Shares of KeyBanc rose 5% after adding to its holdings. KeyBanc said the company could see strong growth on both lines. —CNBC’s Lisa Kailai Han, Pia Singh, Yun Li, Sean Conlon, Jesse Pound and Samantha Subin contributed reporting.
