Stocks making the biggest moves midday: Dollar General, Salesforce,, Chewy, and more

A sign posted in front of a Dollar General store in Vallejo, California March 17, 2022.

Justin Sullivan | Getty Images

Check out the companies making the biggest moves at noon.

Dollar General Shares fell nearly 20% after the company posted a loss in first-quarter earnings and revenue. The company also trimmed its full-year outlook, citing a more difficult macro environment than it had expected.

NetApp shares jumped 9.5% after the company’s earnings and revenue beat after Wednesday’s close. Adjusted earnings per share were $1.54 for its fiscal fourth quarter, compared to $1.25 expected by analysts polled by StreetAccount. Revenue was $1.58 billion, compared to $1.54 billion expected.

Shares of Chewy the pet retailer rose about 25% after the company reported earnings per share of 5 cents, topping the 4-cent loss expected by analysts polled by Refinitiv. Chewy also hit on revenue. Its second-quarter revenue guidance also beat expectations, according to StreetAccount.

Hormel Foods The foodmaker’s shares gained 5.1% after the company reported fiscal second-quarter earnings per share of 40 cents, slightly higher than the 39 cents expected, per StreetAccount. However, revenue was lower than expected. Hormel also said it has made progress on inventory levels and has seen “significant improvement in fill rates.”

Pure Storage The stock rose 21% on better-than-expected quarterly earnings and revenue. Pure Storage’s second-quarter revenue guidance also beat estimates, according to StreetAccount.

PVH shares plunged 10% despite the company’s earnings and revenue bump after Wednesday’s close. Its full-year forecast was in line with the consensus, but its second-quarter GAAP earnings per share forecast of $1.70 was lower than the $2.26 forecast, per StreetAccount.

CrowdStrike Cybersecurity stock fell 2% after the company reported quarterly results that showed slowing revenue growth.

Shares of Victoria’s Secret tumbled 8% after the lingerie retailer reported a loss of earnings and revenue. The company also trimmed its full-year revenue guidance in the low-single-digit range from its previous mid-single-digit range estimates. The AI ​​firm fell 14% as a weaker-than-expected outlook eclipsed stronger-than-expected earnings for the prior quarter. The stock is still up sharply this year as investors bet on AI.

Salesforce Shares of Salesforce fell about 4%. The stock’s decline came as cost concerns and diminishing demand for advisory deals overshadowed better-than-expected results and an improved full-year earnings outlook.

Okta Stock is down more than 18%. While the cloud software company rescinded guidance for fiscal 2024, management said “macroeconomic pressures are mounting.” JPMorgan Chase downgraded the stock to neutral from overweight on Thursday.

Veeva Systems Shares of the computer applications company rose more than 18% after Veeva posted better-than-expected earnings and revenue for the first quarter late Wednesday. The company also raised guidance on earnings per share for the full year.

Lucid Group The maker of luxury electric vehicles saw its shares fall 14% after it said on Wednesday it was raising about $3 billion through a new stock offering, and about $1.8 billion of the increase will come from a placement private with Saudi Arabia’s Public Investment Fund, which owns about 60% of the company.

bluebird bio Biotech stock rose 4.9% after Barclays’ upgrade to overweight from peer weight. The firm said the company has several positive clinical trials on the horizon.

CNBC’s Samantha Subin, Yun Li, Alex Harring and Tanaya Macheel contributed to the reporting.

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