A look at the biggest movers at midday: Salesforce – The cloud software vendor plunged 19.7% after reporting weaker-than-expected revenue and guidance that fell short of Wall Street’s expectations. First-quarter revenue was $9.13 billion, below the $9.17 billion analysts surveyed by LSEG had expected. It’s the first time Salesforce has missed revenue since 2006. Kohl’s – The department store chain plunged nearly 23% after reporting a first-quarter loss of 24 cents per share. Analysts surveyed by LSEG had expected a profit of 4 cents per share, according to LSEG. Revenue also missed expectations. HP – Shares soared nearly 17% a day after the company reported better-than-expected quarterly results. HP reported second-quarter earnings of 82 cents per share on revenue of $12.8 billion. Analysts surveyed by LSEG had expected earnings of 81 cents per share on revenue of $12.6 billion.Foot Locker — Shares rose 15% after the retailer reported first-quarter earnings that beat expectations. Foot Locker’s earnings per share of 22 cents beat LSEG’s consensus estimate of 12 cents per share. UiPath — Shares fell 34% after the software company said it expects second-quarter revenue of $300 million to $305 million. That was below the $342.3 million expected by analysts surveyed by FactSet. Full-year revenue guidance also fell short of expectations. Additionally, the company announced that CEO Rob Ensslin will step down, effective June 1. Best Buy — The electronics retailer rose 13.4% after reporting first-quarter earnings per share of $1.20, beating LSEG’s consensus estimate of $1.08 per share. Best Buy also maintained its full-year outlook. CEO Corey Barry said on a conference call that the company expects 2024 to be “a year of further stabilization in the industry.” Agilent Technologies — Shares fell 9.7% after the company reported slightly below-expected sales but above-expected profits. Agilent also lowered its full-year outlook. The company now expects full-year adjusted earnings per share to be $5.15 to $5.25, up from a previous outlook of $5.44 to $5.55. Analysts surveyed by FactSet had expected full-year adjusted earnings per share to be $5.50. The company also lowered its full-year sales outlook, which was below expectations. C3.ai — Shares rose 19.4% after the technology company reported a fourth-quarter adjusted loss of 11 cents per share, below the 30-cent loss expected by analysts surveyed by Street accounts. Revenue was $86.6 million, beating the consensus estimate of $84.4 million. Birkenstock — Shares soared 11.7% after the shoe maker beat analysts’ expectations for second-quarter sales and profits. The company also gave full-year revenue guidance of 1.77 billion euros to 1.78 billion euros, up from a previous forecast of 1.74 billion euros to 1.76 billion euros. Hormel Foods — Shares fell 9.7% after the food company reported second-quarter revenue of $2.89 billion, below the FactSet consensus estimate of $2.97 billion. But Hormel’s adjusted earnings per share of 38 cents beat analysts’ expectations of 36 cents. Burlington Stores — Shares surged more than 17% after the retailer reported better-than-expected profits. Burlington reported first-quarter adjusted earnings per share of $1.42, beating LSEG’s consensus estimate of $1.05. Revenue was $2.36 billion, beating analysts’ expectations of $2.34 billion. Dollar General — The discount retailer fell 8.1% despite first-quarter earnings and revenue beating expectations. But Dollar General said it now expects second-quarter earnings per share to be between $1.70 and $1.85, below the $1.92 expected by analysts surveyed by LSEG. Nutanix — Shares fell 23% after the cloud company’s fourth-quarter earnings forecast fell short of analysts’ expectations on Wednesday. But Nutanix beat third-quarter earnings and sales expectations. American Eagle Outfitters — Retail shares fell 7.6% after the clothing company reported first-quarter sales below expectations on Wednesday. American Eagle Outfitters is maintaining a “cautious” outlook for the second half of the year, Financial Chief Mike Mathias told CNBC. — CNBC’s Lisa Kaylai Han and Hakyeon Kim contributed reporting.
CRM, KSS, HPQ, BBY, etc.
