Check out the companies that are trending in intraday trading. CrowdStrike — The cybersecurity company soared 10.8% after it beat Wall Street’s quarterly forecasts and issued strong guidance. CrowdStrike reported adjusted earnings of 95 cents per share on revenue of $845 million. Management also reiterated its plan for annual recurring revenue to reach $10 billion by 2030. JD.com — The Chinese e-commerce platform soared 16.2% after posting a quarterly increase in revenue. The company also launched a $3 billion stock buyback program that is scheduled to begin this month and run through March 2027. Nordstrom — Shares plunged 16.1% after the department store chain released a subdued outlook for 2024. Nordstrom expects full-year sales to be within range. Compared to last year, he is between 2% decrease and 1% increase. NEW YORK COMMUNITY BANCORP — Shares rose 7.5% after earlier dropping more than 40% after New York Community Bancorp announced his $1 billion capital increase. Stock prices were halted at various points throughout the day. Separately, bank stocks were volatile during trading. Shares of PNC Financial Services Group fell 3% and Northern Trust fell 4.6%. Morgan Stanley fell 3.9% and M&T Bank fell 1.5%. Thor Industries — Shares plunged 15.4% after the recreational vehicle maker reported disappointing quarterly sales. Thor Industries’ second-quarter revenue was $2.21 billion, below the FactSet consensus estimate of $2.27 billion. Foot Locker — Shares fell 29.4% after the sneaker retailer reported a fourth-quarter loss and issued a weak outlook for the current fiscal year. Foot Locker expects full-year adjusted earnings per share to be between $1.50 and $1.70, while LSEG (formerly Refinitiv) expects adjusted earnings per share of $1.40 to $2.30. The company also said its March 2023 profitability target will be delayed by two years. HashiCorp — Shares rose his 10.9% after HashiCorp hit a record high in its latest quarterly results. The software company reported fourth-quarter adjusted earnings of $156 million, or 5 cents per share. Analysts surveyed by LSEG had expected revenue of $149 million and earnings of 1 cent per share. Couchbase — Shares rose 4% after the cloud database services company reported better-than-expected quarterly results. Couchbase reported a non-GAAP loss per share of 6 cents in the fourth quarter, narrower than the 14 cent loss per share expected by analysts surveyed by FactSet. Revenue was $50.1 million, also beating consensus estimates of $46.6 million. Coinbase Global — Share price rose 10.1% as crypto prices rose. Bitcoin rose 6% on Wednesday after hitting a new intraday record on Tuesday. Ether soared to its highest price since January 2022. ChargePoint Holdings — Shares fell 3.5% after the electric vehicle charging station company announced disappointing guidance. ChargePoint expects first-quarter revenue in the range of $100 million to $110 million, lower than the $126.6 million expected by analysts surveyed by FactSet. ChargePoint is already down 22% this year, with the stock most recently trading below $2 per share. Box — Shares rose 8.6% after the cloud content management company beat quarterly profit estimates. Box’s fourth-quarter profit was 42 cents per share, beating the 38 cents expected by analysts polled by LSEG. Revenues of $263 million met expectations. Separately, Box announced that it is integrating a new large-scale language model with Microsoft’s Azure OpenAI service. GitLab — Stocks rose 4.4% after Wolfe upgraded his GitLab to outperform its peers, saying he sees “significant upside” for the software company. GitLab is down 0.1% this year, underperforming the broader market. Brown-Forman — Shares fell 9.7% after Brown-Forman, the spirits and wine company behind Jack Daniel’s, lowered its full-year organic net sales forecast. The outlook for the full year to April 2024 was revised down from the previous 3-5% growth forecast to flat, indicating pressure from rising commodity prices. Palantir Technologies — Software platform builder has received a $178.4 million contract from the U.S. Army to develop 10 artificial intelligence-powered ground stations as part of a project called TITAN (Tactical Intelligence Targeting Access Node). The stock price has since increased by 9.9%. Target — Shares rose 2.9% Wednesday, adding to gains from Tuesday’s session, when the retail giant closed 12% higher after strong quarterly results. Wall Street giants HSBC and Deutsche Bank upgraded Target to buy following the results. Super Micro Computers — Argus initiates coverage of the data center company with a Buy rating, saying Super Micro Computers is “driven by several years of solid revenue growth, margin expansion, and EPS acceleration.” Shares rose 3.1% after the announcement. Tesla — The stock fell 2.3% after Morgan Stanley analyst Adam Jonas, a known Tesla bull, lowered his price target for the EV maker. He said Tesla could incur losses in the coming quarters because of competition from hybrid cars. Abercrombie & Fitch — Shares fell 3.5% even though the apparel retailer beat expectations on sales and bottom line in its latest quarterly results. Abercrombie & Fitch reported fourth-quarter earnings of $2.97 per share and sales of $1.45 billion. Analyst estimates compiled by LSEG were for earnings of $2.83 per share and revenue of $1.43 billion. Oddity Tech — Shares fell 4.5% even though the consumer technology company beat expectations on revenue and bottom line in its latest financial results and reported better-than-expected first-quarter and full-year guidance. Oddity Tech reported fourth-quarter adjusted earnings of 17 cents, beating the FactSet consensus estimate for earnings of 9 cents per share. Revenue was $97.2 million, exceeding expectations of $85.9 million. —CNBC’s Michelle Fox, Lisa Kai-Lai Han, Ha-Kyung Kim, Pia Shin and Samantha Subin contributed reporting.
Stocks with the biggest price movements at noon: CRWD, PLTR, COIN, BFB
