Stocks making the biggest moves midday: Foot Locker, General Motors, Phillips 66 and more
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Check out the companies making headlines in midday trading. Rover Group — Shares of the online marketplace for pet care advanced 28% after Rover on Wednesday said it agreed to be acquired by Blackstone in a $2.3 billion deal. The transaction is set to close in the first quarter of 2024. Fluence Energy — The energy storage stock surged 23% after Fluence Energy reported fiscal fourth-quarter results that surpassed forecasts. Late Tuesday, the company reported fourth-quarter earnings of 2 cents per share, topping the FactSet consensus estimate of a loss of 7 cents per share. Revenue came in at $521.8 million, better than the forecasted $510.9 million. Foot Locker — The footwear retailer gained 17% after Foot Locker topped analysts’ expectations in its third quarter. Adjusted earnings came in at 30 cents per share on revenue of $1.99 billion. Analysts polled by LSEG were anticipating 21 cents per share on revenue of $1.96 billion. NetApp — NetApp shares surged 15%. On Tuesday, the data infrastructure company topped fiscal second quarter expectations on the top and bottom lines. The company also issued third-quarter earnings guidance and a full-year forecast that came ahead of what the Street anticipated. Workday — The enterprise cloud stock popped 12% after Workday reported third-quarter results that exceeded expectations. On Tuesday, the company reported adjusted earnings of $1.53 per share on $1.87 billion of revenue. Analysts surveyed by LSEG expected earnings of $1.41 per share on $1.85 billion in revenue. CrowdStrike — The cybersecurity stock jumped more than 9%. On Tuesday, CrowdStrike posted a strong third-quarter report and raised its fourth-quarter guidance. General Motors — The automaker popped 9.6% after announcing a $10-billion stock buyback plan and a 33% quarterly dividend increase. GM also reinstated its guidance following the end of the United Auto Workers strike. Hewlett Packard Enterprise — Shares gained more than 7%. Hewlett Packard Enterprise reported mixed fiscal fourth-quarter earnings late Tuesday, but many expect that the growth of artificial intelligence will bolster the company through some near-term weakness. Vestis — Shares of the uniform and workplace supplies gained 6%. Vestis reported fiscal fourth-quarter revenue that topped estimates, according to FactSet consensus estimates. Phillips 66 — Phillips 66 gained 3.6% after Elliott Investment Management on Wednesday said it took a $1 billion stake in the company. The hedge fund plans to seek as many as two board seats, sources told CNBC’s David Faber. Jabil — Jabil shares dropped 13%. Late Tuesday, the manufacturing services company lowered its first-quarter revenue guidance to the range of $8.3 billion to $8.4 billion, compared to previous guidance between $8.4 billion and $9.0 billion. Petco Health & Wellness — Petco shares plunged 28% after the pet retailer reported disappointing third-quarter results. The company posted a wider-than-expected quarterly loss of 5 cents per share, compared to expectations of earnings of 2 cents per share, according to LSEG consensus estimates. The company’s revenue of $1.49 billion also fell short of the Street’s estimates. Hormel Foods — Shares fell nearly 5% after Hormel posted its fiscal fourth-quarter results. Hormel posted adjusted earnings of 42 cents per share and revenue of $3.2 billion, falling short of Wall Street’s estimates. Analysts polled by LSEG called for 44 cents per share in earnings and revenue of $3.26 billion. Dollar Tree — The discount retailer jumped 3% after posting third-quarter results. Adjusted earnings came in at $1.02 per share, while analysts called for $1.01 per share, per LSEG. Revenue of $7.31 billion fell short of expectations for $7.4 billion, however. — CNBC’s Alex Harring and Darla Mercado contributed reporting.
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