Learn more about the companies that are making headlines in mid-day trading.
Five Down – Retail inventory fell 13% after the company reported a decline in quarterly revenue. According to Refinitiv, Five Bottoms posted second-quarter revenue of $ 646.6 million, compared to a forecast of $ 648.3 million. However, its second quarter profits remained above expectations.
Chewy – Shares of the pet retailer fell 9.3% after releasing quarterly results on Wednesday night. Chevrolet posted a loss of 4 cents per share, more than the 2 cents expected by analysts. It also fell short of revenue expectations, bringing in $ 2.16 billion for the quarter, compared to estimates of $ 2.2 billion. Chewy pointed to higher than normal levels of out-of-stock products and posted a worse-than-expected outlook.
Shares of the software company fell 10.2% after reporting a loss of 37 cents per share, compared to 28 cents per share according to analysts’ estimates, according to C3.ai – Refinitiv. C3.ai reported revenue of $ 52.4 million last quarter, in addition to estimates of $ 51.2 million.
Okta – Shares of the identity management software company rose 2.6% after the company reported a lower than expected loss for its second quarter. Okta reported an adjusted loss of 11 cents per share on $ 315.5 million in revenue. Analysts polled by Refinitiv had expected a loss of 35 cents a share on $ 296.5 million in revenue. Investment firm Needham upgraded the title from holding to buying after the report, citing strong growth.
Chargepoint – Shares rose 8.2% after the company provided strong third-quarter revenue guidance and increased revenue estimates for the full year. The company reported a quarterly loss of 13 cents per share on revenue of $ 56.1 million. Income is estimated and income is higher estimate.
Lands End – Lands’ End said the clothing retailer’s inventory fell 9.1%, saying its profit margin would moderate in the second half of its fiscal year due to supply chain issues. Profits were at the top and bottom of the quarterly results.
Hormel Foods – The food business fell 4.6% after posting full-year profit guidance below analysts’ expectations. The company said it expected earnings of between $ 1.65 and $ 1.69 per share, while Wall Street estimated $ 1.71 per share. Hormel has beaten analysts’ revenue expectations.
Signet Jewelers – Shares of the jewelry company rose 5.7% after Signet reported earnings of $ 3.57 per share, higher than the $ 1.69 per share expected by Wall Street, according to Refinitiv. Signet generated revenue of $ 1.79 billion, beating forecast by $ 1.64 billion.
– With reporting from CNBC’s Yoon Lee, Tanaya Machel and Jesse Pound.