Check out the companies that made headlines in midday trading: Elastic — Shares rose nearly 15% after the software company beat Wall Street expectations with second-quarter results. Elastic posted adjusted earnings of 59 cents per share on revenue of $365 million. Meanwhile, analysts surveyed by LSEG expected revenue of $357 million and earnings of 38 cents per share. Reddit — Shares fell more than 7% after Bloomberg reported Advance Magazine Publishers was considering using up to $1.2 billion of Reddit stock to create a credit facility, citing people familiar with the matter. . Gap — Shares rose nearly 13% after the clothing retailer raised its full-year outlook. This is the third time this year. The company currently expects sales to increase by 1.5% to 2%. Gap had previously predicted that sales would increase “slightly.” Super Micro Computer — Shares rose more than 11%, extending the previous session’s more than 15% rise. The company’s stock price rose more than 73% on a weekly basis this week after the company appointed BDO as its new auditor and submitted a plan to the Nasdaq on how it will continue to comply with the exchange’s rules. It is showing a significant rise. rule. Intuit — The financial software company’s stock price fell more than 5% after the release of its fiscal first quarter report. LSEG said Intuit’s results beat Wall Street’s expectations for both revenue and bottom line, but the company said it expects consumer group revenue to decline in the second quarter. Intuit also reiterated its full-year outlook. Ross Stores — Shares rose more than 2% after the department store chain reported third-quarter earnings per share of $1.48, beating the $1.40 expected by analysts surveyed by LSEG. However, its revenue fell short of consensus expectations. Carpenter Technology — Shares rose more than 5% after JPMorgan initiated coverage with an overweight rating on the steelmaker. The company sees room for more than 21% upside in the future due to strong demand for its premium products. StoneCo — Shares rose more than 10% after the Brazilian payments company announced a share buyback program of up to R$2 billion. The company says the program has no fixed expiration date. Deckers Outdoor — The shoemaker rose more than 5% to an intraday high after Needham initiated a Buy rating. Needham called Deckers “one of the highest quality companies we’ve covered” and added the stock to his list of convictions. MicroStrategy — The Bitcoin developer’s stock rose more than 6%, reversing losses of more than 16% seen in the previous session. The rally came as Bitcoin neared $100,000 during Friday trading, after topping $99,000 for the first time on Thursday. Texas Pacific Land — Shares rose more than 14% on news that ConocoPhillips’ acquisition of Marathon Oil Co. will replace the landowner in the S&P 500. Inclusion in the index takes effect on Tuesday. —CNBC’s Alex Harring, Jesse Pound and Michelle Fox contributed reporting.
RDDT, SMCI, INTU etc.
