Check out the companies making headlines in midday trading.
deer – The stock tumbled 11.4% after Deere reported a lack of revenue but a flutter in profits last quarter. The equipment maker posted earnings per share of $ 6.81 on revenue of $ 12.03 billion. Analysts had expected $ 6.71 per share on $ 13.2 billion in revenue.
Palo Alto networks Shares of the cybersecurity firm were up 7.4% after beating analysts’ estimates on the upper and lower lines in the last quarter and raising its outlook for the current quarter.
Ross shops Shares of the discount retailer fell 21% after the company was released earnings and revenues lower than expected for the final quarter and issued weak financial guidance due to inflationary pressures and other macroeconomic conditions.
Applied materials Shares of the semiconductor equipment maker fell 6.3% after reporting loss of earnings and revenue in the second quarter. Applied Materials also shared weak guidance for the current quarter due to supply chain problems exacerbated by blockades in China.
MatchGroup Shares of the dating app jumped 1% after Match announced it reached a temporary settlement on payments with Alphabet, the parent company of Google. The deal prevents Google from forcing Match to use Google Play billing for its paid products and allows apps like Tinder to remain in the Google Play Store.
Eli Lilli Shares in the drug company gained 3% after the Committee for Medicinal Products for Human Use in Europe recommended approval of the company’s centralized treatment for adults with severe alopecia areata. The company expects further regulatory decisions in the United States and Japan this year.
Foot Locker Shares of the footwear and sportswear retailer were up nearly 2% after the company posted better-than-expected quarterly earnings. Foot Locker reported an adjusted quarterly profit of $ 1.60 per share, 5 cents above estimates for Refinitiv. Sales at the same store also fell by less than half what analysts expected.
Hewlett Packard Enterprise – Stocks fell 8% later Bank of America downgraded the stock to neutral from a buy as it faces worsening supply chain problems.
Bill.com – The stock of the expense management company increased by approximately 1% after JPMorgan initiated hedging with a buy rating. The company called Bill.com a “bona fide growth stock” that deserves a premium multiple.
VF Corp. – The owner of apparel brands such as North Face, Timberland and Supreme added 3.2% despite reporting a slight small deficiency in the top and bottom lines in the last quarter.
Decker is outdoors – Shares of the shoe company were up 10.2% after beating estimates on the upper and lower line in the last quarter. Deckers earned $ 2.51 per share on revenue of $ 736 million. The consensus estimates expected earnings of $ 1.32 per share on revenue of $ 639 million.
– Jesse Pound, Tanaya Macheel and Yun Li of CNBC contributed to the reporting.