A dog sits in front of the New York Stock Exchange (NYSE) during Chewy Inc.’s initial public offering (IPO). in New York, USA, on Friday, June 14, 2019.
Michael Nagle | Bloomberg | Getty Images
Check out the companies that make news in the noon trade.
Five below: Retail shares fell more than 10% after the company reported a quarterly revenue loss. Five below recorded revenue of $ 646.6 million in the second quarter, compared to forecasts of $ 648.3 million, according to Refinitiv. However, its second-quarter earnings exceeded expectations.
Chewy: Pet retailer shares were up 9% after reporting quarterly results in late Wednesday. Chewy recorded a loss of 4 cents per share, which was higher than the 2 cents estimated by analysts. It also lost revenue expectations, reporting $ 2.166 billion for the quarter compared to estimates of $ 2.2 billion. Chewy noted a higher-than-usual level of out-of-stock products and issued a weaker-than-expected outlook.
C3.ai – The shares of the software company fell 7% after reporting a loss of 37 cents per share, compared to analysts ’estimates of 28 cents, according to Refinitiv. C3.ai earned $ 52.4 million in revenue last quarter, exceeding estimates of $ 51.2 million.
Okta: The shares of the identity management software company rose 2.4% after the company reported a lower-than-expected loss in its second quarter. Okta reported an adjusted loss of 11 cents per share for revenue of $ 315.5 million. Analysts surveyed by Refinitiv expected a loss of 35 cents per share for $ 296.5 million in revenue. Investment firm Needham updated shares to buy from withholding after the report, citing strong growth.
ChargePoint: Shares rose more than 7% after the company gave strong guidance on third-quarter revenue and increased its revenue estimates for the full year. The company reported a quarterly loss of 13 cents per share on revenue of $ 56.1 million. Earnings matched estimates and revenue exceeded estimates.
Lands ‘End: The clothing retailer’s shares fell more than 8% after Lands’ End said its profit margins would moderate in the later half of its year due to supply chain challenges.
Hormel Foods: The food company fell more than 4% after targeting year-over-year earnings below analysts ’expectations. The company said it expects earnings of $ 1.65 to $ 1.69 per share, while Wall Street estimates $ 1.71 per share. Hormel exceeded analysts’ earnings forecasts.
Jewelers Signet: The jewelry company’s shares rose 6% after Signet reported earnings of $ 3.57 per share, well above the $ 1.69 per share Wall Street was expecting, according to Refinitiv. Signet earned revenue of $ 1.78 billion, exceeding forecasts of $ 1.641 billion.
– with reports from CNBC’s Yun Li, Tanaya Macheel and Jesse Pound.