Take a look at the companies making headlines in midday trading. La-Z-Boy – Shares of La-Z-Boy soared more than 19% after the furniture company beat Wall Street expectations for its fiscal fourth quarter. La-Z-Boy reported adjusted earnings of 95 cents per share on revenue of $554 million. That beat profit expectations of 70 cents a share on revenue of $516 million, according to analysts surveyed by London Stock Exchange Group (LSEG). Rocket Lab – Shares of Rocket Lab rose about 9% after the aerospace company signed a 10-launch deal with Japanese earth observation company Synspective. New products will be launched between 2025 and 2027. The firm raised its price target on the stock to $250 from $214, which would imply an upside of nearly 30% from Monday’s closing price. Six Flags, Cedar Fair – Shares of Six Flags and Cedar Fair rose about 4.5% and 7%, respectively, following news that the merger is expected to close on July 1. The special dividend is shared after the transaction closes. Celsius Holdings – Shares of the energy drink maker rose nearly 5% after Piper Sandler reiterated its overweight rating and called the stock’s recent sell-off “excessive.” The company’s price target implies a potential upside of more than 50% from Monday’s closing price. NextEra Energy – Shares fell more than 3% after the company said it planned to sell $2 billion in equity units to fund power and energy projects and pay down debt. Lennar – Shares of Lennar fell about 4.5% after the homebuilder forecast a quarter-over-quarter decline in new orders in its fiscal third-quarter guidance. However, the company reported better-than-expected second-quarter results, with earnings per share of $3.45 on revenue of $8.77 billion, compared with estimates of $3.24 per share on revenue of $8.52 billion. Patterson Companies – The dental and animal health company’s fiscal fourth-quarter revenue topped Wall Street estimates, sending shares soaring nearly 10%. The company reported adjusted earnings of 82 cents per share on revenue of $1.72 billion. Analysts polled by FactSet expected earnings of 82 cents per share on revenue of $1.7 billion. Occidental Petroleum – Shares of the Houston-based oil and gas producer rose 1.4% after filings showed Warren Buffett’s Berkshire Hathaway It has added more shares to its holdings in each of the past nine trading days. The acquisition brings the number of shares held by Berkshire Hathaway to more than 255 million shares, accounting for 28.8% of the shares. Buffett ruled out taking full control of the oil company. SEMICONDUCTORS — Chip stocks were higher during Tuesday’s trading session, with the VanEck Semiconductor ETF (SMH) rising more than 1.5% to hit a new all-time high. Shares of Micron Technology and Qualcomm rose about 4% and 3%, respectively, while Nvidia shares rose 2.6%. —CNBC’s Alex Harring, Michelle Fox, Sarah Min and Yun Li contributed reporting.
