A look at companies catching the eye in midday trading: Ally Financial — The company’s shares fell 17.6% after Ally Chief Financial Officer Russell Hutchinson said at an industry conference that credit problems increased in the third quarter, particularly in auto loans to retail customers. Mission Produce, Caravo Growers — Shares rose 21.5% after the avocado grower reported third-quarter revenue up 24% from a year ago. Mission Produce sales were $324 million, up from $261.4 million a year ago. Caravo Growers rose about 11% after the rival grower reported third-quarter adjusted earnings of 57 cents a share, beating analyst expectations of 43 cents a share, according to FactSet. Caravo Growers also doubled its quarterly dividend to 20 cents a share. Oracle — Shares of the database software company soared more than 11% after first-quarter sales and profits beat expectations. Oracle posted adjusted earnings per share of $1.39 on revenue of $13.31 billion, while analysts surveyed by LSEG were expecting earnings per share of $1.32 on revenue of $13.23 billion. Oracle also announced plans to provide database services to Amazon Web Services as part of a strategic alliance. Boot Barn — Shares rose nearly 10% after the western-style retailer provided an update on its recent performance ahead of the Piper Sandler Growth Frontier conference. The company’s consolidated same-store sales rose provisionally 4% in the second quarter. Hewlett Packard Enterprise — The tech hardware stock plunged more than 8% after Hewlett Packard announced plans to sell $1.35 billion in Series C mandatory convertible preferred stock. The company plans to use the net proceeds to fund its acquisition of Juniper Networks. Rubrik — Shares of the data management software company fell 1.5% despite second-quarter results beating Wall Street expectations. Rubrik reported an adjusted loss of 40 cents per share on revenue of $205 million, while analysts surveyed by FactSet had expected a loss of 49 cents per share on revenue of $196.1 million. Patterson-UTI Energy — Shares fell about 3.3% after the oil and gas services provider said it had an average of 107 drilling rigs operating in the U.S. in August. For the two months ended Aug. 31, the company had an average of 108 drilling rigs operating in the U.S. Southwest Airlines — The airline’s shares fell about 1.6% after it announced a board shakeup and that its chairman and former CEO, Gary Kelly, will step down next year. Alibaba — U.S. shares rose 2.9%. The China-based e-commerce company’s Hong Kong shares were added to the Equity Connect program, which links the Shanghai and Shenzhen stock exchanges. Reuters reported the move is expected to attract investment from mainland China. JPMorgan — The bank’s shares fell more than 5% after Chief Operating Officer Daniel Pinto warned at an industry conference that market expectations for its 2025 net interest income were too high. — CNBC’s Brian Evans, Samantha Sabin, Lisa Kailai Han, Jesse Pound and Michelle Fox contributed to this report.
ALLY, LUV, ORCL, etc.
