Here are some of the companies making news in midday trading:
Salesforce, the cloud software vendor, saw its shares surge more than 7% after reporting fiscal third-quarter earnings that beat analysts’ estimates, along with an 11% increase in revenue from a year ago.
Snowflake shares rallied more than 4% following strong quarterly results and an upbeat fourth-quarter product revenue forecast, with adjusted earnings of 25 cents per share on $734 million in revenue.
Discover Financial’s shares jumped 4.7% after announcing it was exploring the sale of its student loan portfolio and would stop accepting new student loan applications in February.
Victoria’s Secret saw a 15.9% surge in its stock after providing current-quarter guidance that met analysts’ expectations, even though it posted a wider loss per share than anticipated.
Pure Storage, a data storage company, tumbled 14.5% after offering a weak revenue outlook for the current quarter and the full year, falling below Wall Street’s expectations.
Phillips 66, the oil refiner, climbed 2.8% to a 52-week high after confirming talks with activist investor Elliott Investment Management, who is seeking to improve the company’s performance.
Hewlett Packard Enterprise’s stock rose 2.7% following an announcement of an expanded partnership with Nvidia to build an enterprise computing solution for artificial intelligence.
Nutanix, a cloud company, advanced 3% after beating expectations in the first fiscal quarter, reporting adjusted earnings of 29 cents per share and $511 million in revenue.
Snap and Pinterest, the social media stocks, added 6.8% and 1.5% respectively, after receiving upgrades to buy from Jefferies, with catalysts for potential revenue growth next year.
Other companies that experienced stock movements include Synopsys, Ally Financial, Bilibili, Spirit AeroSystems, and Petco.
These updates are based on reports by CNBC’s Samantha Subin, Yun Li, Michelle Fox, Lisa Kailai Han, and Sarah Min.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
