Noteworthy Stock Movements

Midday trading has revealed significant fluctuations among notable companies, particularly influenced by their latest earnings reports. Here’s a recap of the most impactful changes:

• Costco: Shares fell nearly 7% after the retail leader’s second-quarter earnings fell short of analysts’ expectations, reporting earnings of $4.02 per share versus the forecast of $4.11. Nevertheless, the company’s revenue exceeded projected figures.
• Broadcom: The semiconductor giant saw a 5% increase in shares following better-than-expected fiscal first-quarter earnings. The company projects second-quarter revenue of approximately $14.9 billion, surpassing the $14.76 billion estimate.
• Mobileye Global: The stock increased by more than 2%, influenced by a regulatory filing indicating that hedge fund Point72, led by Steve Cohen, acquired a 5% stake in the autonomous driving technology firm.
• Tesla: Shares of the electric vehicle manufacturer declined by 2.5%, contributing to a larger 13% drop observed throughout the week.
• Walgreens Boots Alliance: The company’s shares increased by 7% after announcing a forthcoming acquisition by Sycamore Partners, with a cash offer of $11.45 per share—a notable 8% premium over the stock’s previous closing price.
• Hewlett Packard Enterprise: This server manufacturer’s stocks plunged over 16% after announcing a less favorable second-quarter outlook, along with full-year earnings estimates that did not meet analyst expectations.
• Samsara: Shares fell more than 16%, as the software firm offered first-quarter guidance in line with analyst estimates, specifying anticipated earnings per share of 5 to 6 cents against $350 million to $352 million in revenue.
• BigBear.ai: The artificial intelligence company experienced a steep decline of over 22%, largely due to expected delays in federal contracts driven by budget reductions under the Trump administration.
• Lands’ End: Shares of the clothing retailer saw a positive lift of 3.9% as the company’s board evaluated potential strategic options, including a possible sale of the business.
• Gap Inc: The apparel retailer’s stock rose 11.1% following a strong fourth-quarter performance, reporting earnings of 54 cents per share on $4.15 billion in revenue, exceeding expectations of 37 cents and $4.07 billion respectively.
• Cooper: The medical device manufacturer’s stock declined by 7%, reporting first-quarter revenue of $964.7 million, which fell short of the anticipated $978.1 million.