A look at companies catching our eye in midday trading: Dollar Tree – Shares fell more than 22% after the discount retailer sharply cut its full-year outlook for net sales and adjusted earnings per share. Dollar Tree cited growing pressure on middle- and upper-income customers for the reason. GitLab – Shares of the software development company surged more than 21% on a strong third-quarter earnings outlook. The company now expects earnings per share of 15 cents to 16 cents for the period, beating the 11 cents expected by analysts surveyed by LSEG. GitLab’s full-year revenue outlook also beat expectations. Zscaler – Shares fell more than 18% after the cloud security company’s first-quarter earnings outlook fell short of expectations. Zscaler now sees earnings of 62 cents to 63 cents per share, LSEG said, below analysts’ expectations of 73 cents per share. The company also expects earnings of $2.81 to $2.87 per share for the full year, below analysts’ expectations of $3.33 per share. AST SpaceMobile — Shares surged about 12.5% ​​after the company said it plans to launch its first five commercial satellites, called BlueBird, from Cape Canaveral, Florida, after September 12. AST SpaceMobile also said the satellites will be placed in low orbit and will provide cellular broadband service to billions of people around the world. Asana — Shares plunged more than 5% after the company reported weaker-than-expected third-quarter and full-year guidance. Asana now expects third-quarter sales of $180 million to $181 million, according to LSEG, while analysts are expecting $182 million. For the full year, the company expects revenue of $719 million to $721 million, below the consensus estimate of $723 million. Dick’s Sporting Goods — The sporting goods company’s shares fell about 5% after it gave weaker full-year guidance. The company expects earnings of $13.55 to $13.90 per share, compared with analysts surveyed by FactSet who expected earnings of $13.80 per share. Hormel Foods — The packaged food company’s shares fell more than 6% after third-quarter earnings fell short of expectations and it lowered its full-year outlook. Hormel’s revenue for the quarter was $2.9 billion, below analysts’ expectations of $2.95 billion, according to FactSet. Sweetgreen — The fast-casual chain’s shares rose about 2% after TD Cowen upgraded the stock to buy from hold. Analyst Andrew Charles cited Sweetgreen’s introduction of “Infinite Kitchens,” or automated robotic kitchens, as a catalyst. ASML — Shares fell about 4% after UBS downgraded ASML to Neutral from Buy. The company sees earnings growth slowing to the mid-teens after 2026 as lithography capacity plateaus and demand normalizes. AMD — Semiconductor stocks recovered from a day earlier’s decline to rise about 3%. AMD shares were hit by a sharp semiconductor sell-off on Tuesday, dropping 7.8%. — CNBC’s Lisa Kailai Hung and Michelle Fox report.
DLTR, GTLB, ZS, etc.
