A customer holding an umbrella walks towards a Kroger Co. grocery store in Louisville, Ky., United States, Sunday, April 26, 2020.
Stacie Scott | Bloomberg | Getty Images
Check out the companies that made midday headlines Thursday.
Kroger – Shares of Kroger rose 12.5% ââafter the grocery chain released a better-than-expected quarterly report. The company reported earnings of 78 cents a share on revenue of $ 31.86 billion. Analysts had expected earnings of 66 cents a share on revenue of $ 31.23 billion, according to Refinitiv.
Snowflake – Software stock jumped 14% following a stronger-than-expected third quarter report. Snowflake said it generated $ 334.4 million in revenue in the third quarter, up 110% year on year and above Refinitiv’s forecast of $ 305.6 million. The company’s product revenue forecast for the fourth quarter and 2022 also exceeded expectations, according to FactSet.
Boeing – Shares of the aircraft maker jumped more than 5% after China’s aviation regulator allowed the Boeing 737 Max to resume flights on Thursday. This model had been grounded around the world for more than two years following two fatal accidents.
Signet Jewelers – Signet Jewelers saw its shares fall almost 30%, even after a better than expected earnings report. The company made a profit of $ 1.43 per share, which is 71 cents above Refinitiv’s consensus estimate. However, some analysts feared that Signet’s growth would be unsustainable next year.
Apple – Apple shares fell 1.5% after Bloomberg reported the company told some of its suppliers that there may be a slowdown in demand for iPhone 13 models. ‘previously expected the reduction in its original production target to be offset in 2022, but said that may not materialize now.
Five below – Retail stock gained around 2% after a better-than-expected quarterly earnings and sales report. Five Below also reported a 14.8% increase in same-store sales, crushing Refinitiv’s consensus estimate by 5.3%.
Okta – Shares of Okta rose 10.2% after the identity and access management company released quarterly results. Okta lost 7 cents per share, less than the loss of 24 cents per share estimated by analysts, according to Refinitiv. The company also released a forecast for the fourth quarter that was higher than estimated.
Lands ‘End – Shares of Lands’ End fell 13.2% on lower than expected third quarter earnings. The retailer posted revenue of $ 375.8 million against StreetAccount’s estimate of $ 398 million. Lands’ End also released a forecast for fourth quarter earnings and earnings that fell short of estimates.
Dollar General – Shares of Dollar General fell 3.6% despite the company reporting better than expected earnings and earnings for the third quarter. However, Dollar General said it expects comparable store sales to decline this fiscal year. The company also revealed plans to open 1,000 Popshelf stores, catering to wealthier suburban shoppers, by the end of fiscal 2025.
Simon Property Group – The mall owner’s shares rose 3.1% after Morgan Stanley reiterated its overweight position in the stock. The company said investors should buy Simon’s recent drop and the company may raise its dividend again soon.
Ford Motor – The automaker’s shares rose more than 1% after the company said its F-series pickup would remain the best-selling vehicle in the United States for a 40th consecutive year and the most sold from the sector for the 45th consecutive year. The rally occurred even after Wall Street firm Wolfe Research lowered the stock to keep it from outperforming. Wolfe said Ford’s pivot to clean-energy vehicles has gone quite far and said the rally in action will slow down in 2022. Ford shares have climbed 127% year-to-date.
Uber – Uber shares rose 5% after Uber launched coverage of ridesharing shares with a buy note. The company said it appreciates Uber’s improved mobility and profitability.
PVH – Tommy Hilfiger’s parent company saw its shares fall 5.4% after reporting lower than expected quarterly sales. PVH reported quarterly revenue of $ 2.33 billion, while analysts expected revenue of $ 2.41 billion, according to Refinitv.
– CNBC’s Jesse Pound, Tanaya Macheel and Yun Li contributed reporting.