Check out the companies making headlines during their midday trading.
AMC Entertainment – AMC Entertainment stock. It is in the middle of a roller coaster ride on Friday as they are down 5 percent after the rally as much as 38 percent at noon.More than 360 million shares have been traded, three times more than the 30-day average. Shares have rallied 120 percent this week amid rising speculative trading activity, pushing 2021 to 1,200 percent.
HP ̵1; The hardware technology company’s shares fell more than 8%, although HP beat expectations above and below in the first quarter. Management warned during an investor call that problems in the semiconductor supply chain could at least limit a company’s ability to meet demand for certain products until the end of the year.
Big Lots (BIG) – The retailer’s stock fell 6.78 percent, despite reporting a better-than-expected quarter.Big Lots earned $ 2.62 per share, above analysts’ estimates of $ 1.69 per share, revenue of 1.63 billion. The dollar was still higher than the estimate. Comparable store sales increased 11.3%.
Salesforce – The cloud company’s shares jumped more than 6% in midday trading after topping the ranks and below quarterly results.Salesforce earned $ 1.21 per share on revenue of $ 5.96 billion. Analysts were expecting a profit of 88 cents per share on revenue of $ 5.89, according to Refinitiv.Salesforce also increased its full-year outlook.
Ulta Beauty – The beauty chain’s shares were up 5.6 percent in midday after hitting a new 52-week high of $ 351.72 on Friday morning.Ulta posted its first-quarter results exploding after the bell last day. Thursday, reporting earnings of $ 4.07 per share, more than double analysts’ estimates of $ 1.95 per share, according to Refinitiv.The company’s quarterly earnings also exceeded Street and Ulta expectations, adding to its full-year guidance.
Gap – Gap shares fell more than 5 percent in midday, despite better-than-expected first-quarter results, the company said, facing supply chain hurdles and difficulties in sourcing raw materials due to the cattle case epidemic. Wid countries including India Gap reported earnings of 48 cents per share on revenue of $ 3.99 billion, compared with analysts’ expectations of a loss of 5 cents per share on revenue of $ 3.45 billion, according to Refinitiv.
Best Buy – Electronics company shares were down 2.58 percent in midday trading, although the robust housing market spurred spending on home theaters, appliances and computers. Analysts are cautioning that as the United States retains its plans to re-enable, consumers may spend more on dining out, potentially lowering their spending on technology.
Hibbett Sports – The shoe company’s shares were down 4 percent, despite the strong-than-expected quarterly results.Hibbett reported earnings of $ 5.00 per share, up to $ 2.77 per share, according to Refinitiv. $ 413 higher than Wall Street estimates.
– CNBC’s Hannah Miao, Maggie Fitzgerald, Jesse Pound and Yun Li contributed reporting.
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