Check out the companies that are trending in intraday trading.
city group – Citigroup shares fell nearly 3%. The bank announced plans to spin off its Mexican business Banamex through an initial public offering after efforts to find a buyer for the unit failed.
Palo Alto Networks – The cybersecurity company’s stock price rose nearly 8%. The move comes a day after Palo Alto Networks released a better-than-expected quarterly report and a strong earnings outlook. The company reported adjusted earnings per share of $1.10 and revenue of $1.72 billion. Analysts polled by Refinitiv had forecast earnings of 93 cents a share and revenue of $1.71 billion.
Netflix — Shares rose 1.2%. Oppenheimer, whose company started informing customers about its password-sharing rules in the U.S. on Tuesday, said a crackdown on account sharing should help the stock.
Analog Devices — Analog Devices fell 8% in intraday trading.Given by a semiconductor manufacturing company Guidance weaker than expected Sales increased in the third quarter of the fiscal year, despite better-than-expected second-quarter sales and bottom-line earnings. Analog Devices is expected to post adjusted earnings of about $2.52 a share in the third quarter, compared with analysts’ expectations of $2.65 a share, according to FactSet. The company expects revenue to be about $3.1 billion, below its forecast of $3.16 billion.
Tesla — Shares of Elon Musk’s electric car maker fell about 2% at noon. EV shares fell after Chinese rival Xpeng’s disappointing quarterly results. Refinitiv said Xpeng underperformed revenue estimates and posted losses that were higher than analysts expected. The company also forecast a decline in vehicle deliveries.
Energy Stocks — Stocks of oil companies rose on Wednesday. The move comes a day after Saudi Arabia’s energy minister said: Possible OPEC+ production cuts.of Energy Select Sector SDPR Fund (XLE) increased by 0.3%. marathon oil and APA Both were up about 1%.
Semiconductor Stocks — Semiconductor stocks fell Wednesday. A spokesman for China’s Ministry of Commerce opposed Japan’s restrictions on chip exports to China. a day ago.shares of microchip technology It was down 6%. NXP Semiconductors fell 4%, ON Semiconductor 3% reduction. Nvidia The stock fell 2% ahead of the earnings announcement after the bell.
Moderna — The biotech company’s stock price fell more than 4%. The drop marks a sharp reversal in stock prices that have surged in recent days amid news of a wave of new XBB variants in COVID-19 cases in China. Beijing officials reportedly estimate that: This could lead to 65 million new infections each week by the end of June.
Abercrombie & Fitch – The apparel retailer’s shares surged 26% after the company reported better-than-expected first-quarter results and sales, according to Refinitiv. The apparel retailer also issued strong guidance for the second quarter and full year of the fiscal year.
urban outfitters — The retailer’s stock price jumped about 16%. Urban Outfitters released its first-quarter financial report on Tuesday, beating expectations on sales and bottom line. The company earned him 56 cents per share on its $1.11 billion revenue. Analysts surveyed by Refinitiv had posted earnings of 35 cents a share on revenue of $1.09 billion. Barclays raised its share weight from equal weight to overweight after the earnings report.
accolade — Shares rose nearly 7% after Bank of America’s neutral buy-out. The company said the medical benefits support company has a “steady growth engine.”
stem — Stem shares rose 5%. Evercore ISI has launched coverage of the stock with an Outperform rating, saying the energy storage company is a leader in a rapidly growing market given the rise of clean energy technologies. The company said in a note Tuesday that Stem is “well positioned to capture significant market share” and is a “growth story.”
Corning — Shares rose 2% in the first day after the announcement it will increase the price Display Glass sales increased 20%. The company said the price adjustments are aimed at offsetting the ongoing high costs of energy and materials. Corning said it expects demand to increase in the second half of 2023.
Coles – Shares rose 5% after the retail giant reported unexpected first-quarter earnings on Wednesday and reaffirmed its full-year outlook. The company said store productivity has improved and momentum continues at Sephora at Coles.
Agilent Technologies — Shares of test technology companies fell nearly 8%. Refinitiv said Agilent released earnings guidance on Tuesday, with sales in the third quarter of the fiscal year coming in below expectations. However, the company outperformed in sales and bottom line last quarter.
Intuition — Shares of the tax software company fell 7% in a day after Intuit released its quarterly results. Intuit’s third-quarter earnings beat analyst expectations, but the company reported a shortfall in earnings, according to Refinitiv data. The company’s profit outlook for the quarter also fell short of analyst expectations.
—CNBCof Samantha Subin, Alex Harring, Yun Li, Brian Evans, Jesse Pound, and Tanaya Macheel contributed to the report
