Check out the companies making the biggest moves midday: GameStop — The meme stock plunged more than 28% after the video game retailer posted an abysmal earnings report . Net sales of $881.8 million for the first quarter marked a 29% decline from a year prior. The company also said it would sell additional stock. Meme stock trader “Roaring Kitty” was set to kick off his livestream at noon ET , which could move the stock even more. Vail Resorts — Shares tumbled 12% following disappointing quarterly results. After Thursday’s close, the ski resort owner said it earned $9.54 per share on $1.28 billion in revenue, falling short of the LSEG consensus estimate of $9.97 per share in profits on $1.30 billion in revenue. Oddity Tech — Shares soared 23% after the beauty and wellness company’s board approved a $150 million share buyback program of the company’s Class A ordinary shares. The company also boosted its second-quarter earnings outlook. Semtech — The stock plummeted 18% after the semiconductor manufacturer announced its CEO Paul Pickle had left the company. Dr. Hong Q. Hou, who is a current member of Semtech’s board of directors, was named his successor. Semtech said the decision followed “differences between the Board and Mr. Pickle on how the CEO and the Board should work together in the best interests of stockholders.” Semtech also reaffirmed its second-quarter forecast. DocuSign — The electronic signature company shed nearly 5% despite reporting fiscal first-quarter results on Thursday that topped analysts’ expectations. DocuSign also guided for fiscal second-quarter revenue between $725 million and $729 million, versus the $726 million consensus estimate, per LSEG. In addition, the company authorized a $1 billion stock buyback. Planet Labs — The stock gained 9.3% after first-quarter results beat expectations. The provider of satellite imagery reported an adjusted loss of 5 cents per share and $60.4 million in revenue. Analysts were expecting a loss of 7 cents per share and revenue of $60 million, according to LSEG. Geron — The biopharmaceutical company’s stock rose more than 20% after the U.S. Food and Drug Administration approved its blood disorder treatment Rytelo. While analysts expected the approval, it came earlier than anticipated, per FactSet. Skechers — The stock gained more than 2% following an upgrade at Bank of America to buy. The bank sees an improving wholesale environment for the footwear maker. Samsara — The software maker slid 12% despite reporting an earnings and revenue beat after the close Thursday. Samsara guided for second-quarter revenue between $288 million and $290 million, topping the $287 million analyst estimate. However, earnings are expected to be between breakeven and 1 cent per share, versus the 1 cent consensus estimate. Braze — Shares added 4.4% after the customer engagement platform reported a smaller-than-expected loss of 5 cents per share and a revenue beat for its first quarter. Braze’s second-quarter guidance also exceeded analysts’ expectations. Gold stocks — Miners Newmont and Freeport-McMoRan both shed about 4% on the back of falling gold prices . Precious metals stream and royalty company Royal Gold also dropped 4%. — CNBC’s Sean Conlon and Yun Li contributed reporting.
https://www.cnbc.com/2024/06/07/stocks-making-the-biggest-moves-midday.html
