Stocks making the biggest moves midday: Tupperware, Airbnb, Paramount, Estee Lauder, and more

An employee of Tupperware Brands Corporation works on the production line at the group’s factory in Joue-les-Tours, central France, on the day of its 40th anniversary. AFP PHOTO / JEAN-FRANCOIS MONIER (must read image source JEAN-FRANCOIS MONIER / AFP / Getty Images)

Jean Francois Mounir | AFP | Getty Images

Check out which companies are making the headlines in midday trading.

Tupperware Brands Tupperware shares fell 42% after losing third-quarter earnings. The maker of home storage products also said it may not be able to comply with the covenants in its credit agreement, “which raises significant doubts about the company’s ability to continue as a going concern,” according to the earnings statement.

Rogers The engineering materials maker saw shares tumble 43% after ending the company’s planned $5.2 billion sale to DuPont De Nemours, as the companies were unable to obtain clearance from regulators. The deal was first announced on November 1, 2021. DuPont stock is up about 4%.

Paramount Global – Shares of the media company fell more than 11% after Paramount’s quarterly results missed expectations, as it suffered wire cuts and a drop in advertising revenue. Paramount said revenue from its TV media segment fell 5% to about $4.9 billion from the previous quarter, with pay-TV subscriber numbers falling.

Estee Lauder The cosmetics maker slipped 8% after giving a poor outlook despite beating expectations for the quarter. The company said it was hit by rising costs, China’s Covid lockdowns and foreign currency volatility.

Trimble – Shares fell 7% after Trimble missed revenue expectations in its third-quarter results. The industrial technology company reported sales of $884.9 million compared to expectations of $911.4 million, according to consensus estimates on FactSet. Trimble reported earnings per share that were in line with expectations.

CH Robinson – The stock fell 6% after the transportation and logistics company reported disappointing revenue in its latest results. CEO Bob Basterfield said in a statement that concerns about “slowing freight demand and lower prices in the freight and road transport markets” surfaced in the third quarter.

Airbnb The housing stock fell 10.1% after the company reported earnings per share that beat expectations, while revenue came in line with estimates. However, the higher end of the company’s fourth-quarter revenue guidance came in short of some analyst estimates, StreetAccount data shows.

jiggle Education stock rose more than 22.2% after Chegg beat estimates in net income for the third quarter. The company stated that adjusted earnings were 21 cents per share on revenue of $164.7 million. Analysts polled by Refinitiv expected 14 cents per share on $158.3 million in revenue. Gross margin and adjusted subscribers grew year on year.

Clorox Clorox shares fell 5.3% after the company reported quarterly earnings results that beat Wall Street estimates, but only confirmed its full-year guidance even though it had three full quarters left. The company reported fiscal first-quarter earnings per share of 93 cents versus expectations of 75 cents. It also showed revenue of $1.74 billion, where analysts had expected $1.69 billion.

Match group – Shares of the dating app operator rose 8.4% after the company reported higher-than-expected third-quarter revenue, according to StreetAccount. This quarter’s guidance for adjusted operating income came in higher than StreetAccount’s estimate.

Broadridge Financial Shares fell 6% after the fintech company lost its profit and sales forecast in its latest quarter. Broadridge Financial Solutions reported earnings of 84 cents per share on revenue of $1.28 billion. Analysts had been expecting earnings of 88 cents per share on revenue of $1.26 billion, according to consensus estimates on FactSet.

CVS Health Shares rose 3.8% after the company beat expectations on revenue and earnings for the fourth quarter and raised its revised full-year guidance.

Boeing The industrial giant saw its shares rise more than 2.4% after Chief Financial Officer Brian West told investors he expects to generate between $3 billion and $5 billion in free cash flow next year on the back of an increase in deliveries of the 737 Max and 787 jets.

electronic arts Shares of Electronic Arts rose 3.2% even after the video game publisher reported lower-than-expected bookings for its fiscal second quarter. Net income was flat year over year despite a stronger dollar affecting the company’s bookings. EA also said the latest FIFA game beats the 2022 edition within the first four weeks.

Caesars Entertainment Caesars shares gained 2.5% after the company beat analysts’ top and bottom estimates for the last quarter. The resort operator also reported that its digital betting business has turned into earnings on an adjusted basis for the quarter, 12 months ahead of its target.

Advanced Micro Devices The chip maker saw its shares rise 2% despite reporting quarterly results and issuing guidance that missed analyst expectations. Results from all four of the company’s business segments were better than what the company called for in its October warning, and Morgan Stanley on Wednesday reiterated its over-rating the stock.

Sarah Maine, Alexander Haring, Jesse Pound, Yoon Lee, Michelle Fox and Carmen Renick of CNBC contributed reporting.

#Stocks #making #biggest #moves #midday #Tupperware #Airbnb #Paramount #Estee #Lauder

Leave a Comment

Your email address will not be published. Required fields are marked *