Check out the companies making the biggest moves midday: Salesforce — The cloud software vendor tumbled 19.7% after reporting weaker-than-expected revenue and issuing guidance that fell short of Wall Street’s expectations. Its fiscal first-quarter revenue was $9.13 billion, versus the $9.17 billion expected from analysts polled by LSEG. It was the first time since 2006 that Salesforce missed on revenue. Kohl’s — The department store chain plunged nearly 23% after it reported a first-quarter loss of 24 cents per share. Analysts polled by LSEG had expected a gain of 4 cents per share, according to LSEG. Revenue also came in below expectations. HP — Shares surged almost 17% a day after the company posted better-than-expected quarterly results. HP reported fiscal second-quarter earnings per share of 82 cents on $12.8 billion of revenue. Analysts polled by LSEG had forecast earnings per share of 81 cents on $12.60 billion of revenue. Foot Locker — Shares jumped 15% after the retailer reported an earnings beat for its first quarter. Foot Locker’s earnings per share came in at 22 cents, versus the LSEG consensus estimate of 12 cents per share. UiPath — The stock sank 34% after the software company said it anticipates revenue between $300 million and $305 million for the second quarter, lower than the $342.3 million expected from analysts polled by FactSet. Full-year revenue guidance also fell short of expectations. In addition, the company announced CEO Rob Enslin was resigning, effective June 1. Best Buy — The electronics retailer popped 13.4% after posting fiscal first-quarter earnings of $1.20 per share, topping the LSEG consensus estimate of $1.08 in earnings per share. Best Buy also stuck with its full-year forecast. CEO Corie Barry said on a call that the company expects 2024 “to be a year of increasing industry stabilization.” Agilent Technologies — The stock fell 9.7% after the company reported a slight revenue miss but an earnings beat. Agilent also cut its full-year guidance. It anticipates full-year adjusted earnings per share to come in between $5.15 and $5.25, versus its prior guidance of between $5.44 and $5.55. Analysts polled by FactSet expected full-year adjusted earnings per share guidance of $5.50. The company also lowered its revenue guidance for the year, which fell short of expectations. C3.ai — Shares added 19.4% after the tech company reported an adjusted loss of 11 cents per share for its fiscal fourth quarter, less than the loss of 30 cents expected from analysts polled by StreetAccount. Revenue came in at $86.6 million, topping the $84.4 million consensus estimate. Birkenstock — Shares soared 11.7% after the footwear manufacturer beat analysts’ expectations for its second-quarter sales and earnings. The company also guided for a full-year revenue outlook of between 1.77 billion euros and 1.78 billion euros, higher than its previous estimate of between 1.74 billion euros and 1.76 billion euros. Hormel Foods — The stock lost 9.7% after the food company reported second-quarter revenue of $2.89 billion, missing the FactSet consensus estimate of $2.97 billion. However, Hormel’s adjusted earnings per share of 38 cents topped the 36 cents expected from analysts. Burlington Stores — Shares jumped more than 17% following the retailer’s earnings beat. Burlington reported adjusted earnings per share of $1.42 for its first quarter, versus the LSEG consensus estimate of $1.05. Revenue was $2.36 billion, topping the $2.34 billion expected from analysts. Dollar General — The discount retailer shed 8.1% despite reporting an earnings and revenue beat for its first quarter. However, Dollar General said it sees second-quarter earnings per share coming in between $1.70 and $1.85, less than the $1.92 expected from analysts polled by LSEG. Nutanix — Shares dropped 23% after the cloud company’s fiscal fourth-quarter revenue forecast fell short of analysts’ expectations on Wednesday. However, Nutanix beat on earnings and sales expectations for its fiscal third quarter. American Eagle Outfitters — The retail stock slid 7.6% after the clothing company reported weaker-than-expected sales in its fiscal first quarter on Wednesday. American Eagle Outfitters is maintaining a “cautious” outlook for the second half of the year, finance chief Mike Mathias told CNBC. — CNBC’s Lisa Kailai Han and Hakyung Kim contributed reporting.
https://www.cnbc.com/2024/05/30/stocks-making-the-biggest-moves-midday-.html
