Signage of a Saleforce office building in San Francisco, California, USA, on Tuesday, February 23, 2021.
David Paul Morris | Bloomberg | Getty Images
Below are the stocks that are news in the noon trade.
Salesforce: Salesforce shares rose 4.7% after the enterprise software maker reported second-quarter tax benefits and future guidelines that exceeded analysts ’expectations. Revenue rose 23% year-over-year in the quarter, the same growth as the previous quarter.
Dollar Tree: Discount retailer shares fell above 10% after reporting a mixed quarter. Dollar Tree reported earnings of $ 1.23 per share, which surpassed analysts ’estimates of $ 1.00. It reported revenue of $ 6.342 billion, which lost estimates of $ 6.452 billion.
General Dollar: General Dollar shares fell about 4%, although discount retailers exceeded estimates on both the top and bottom lines. Dollar General reported earnings of $ 2.69 per share on revenue of $ 8.655 billion. Analysts had expected earnings of $ 2.59 per share on revenue of $ 8.66 billion, according to Refinitiv. However, Dollar General issued lower-than-expected earnings guidelines for the full year.
Autodesk: Software inventories fell more than 8% after its second-quarter earnings report. Autodesk exceeded earnings per share estimates, but revenue matched expectations and its third-quarter outlook showed only small increases for the two metrics.
Williams-Sonoma: Retailer shares rose 10% after reporting better-than-expected earnings and revenue. Williams-Sonoma earned $ 3.24 per share, beating estimates of $ 2.61 per share, according to Refinitiv. The company earned revenue of $ 1.95 billion last quarter, above projected $ 1.81 billion.
Abercrombie & Fitch: Abercrombie & Fitch shares plunged 12% after the clothing retailer lost quarterly revenue expectations. The company reported revenue of $ 865 million, while analysts expected $ 879 million, according to Refinitiv. Abercrombie & Fitch exceeded earnings expectations by 93 cents per share with a profit of $ 1.70 per share.
Zoom Video: The shares of the video conferencing company rose 1.8% after Morgan Stanley updated the overweight shares by the same weight. The firm said in a note to customers that the market was too concerned about Zoom’s growth prospects as workers returned to the office.
Coty: The cosmetics company’s shares rose more than 16% after Coty reported better-than-expected sales for its fourth fiscal quarter. The company also said it expects positive sales growth in the next year.
JM Smucker: Food stocks fell more than 3%, although JM Smucker exceeded estimates for the top and bottom lines of the first fiscal quarter. The company reported adjusted earnings per share of $ 1.90 and $ 1.86 million in revenue. Analysts surveyed by Refinitiv were looking for $ 1.86 per share with $ 1.8 billion in revenue.
Pure Storage: Information technology stocks soared more than 14% after Pure Storage reported higher and lower exceedances in its second fiscal quarter. Revenue increased 23% year-over-year, and subscription revenue grew 31%.
CNBC’s Hannah Miao, Maggie Fitzgerald and Tanaya Macheel contributed to this report.
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