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Check out which companies are making the headlines in midday trading.
Logitech — The computer accessory maker jumped 11.8% after Logitech repeated its full-year guidance, which was downgraded in July. Logitech struggled with weak demand after a surge in sales during the height of the pandemic.
cocky Shares are up 9.8% even after Mizuho Upstart started with a poor rating, saying there are more challenges for the consumer lender.
turning off — The stock rose 12.3% after UBS began buying Stem, saying the AI-driven energy storage company is a market leader that will get a boost from the inflation-lowering law.
hibit Sporting Goods shares rose 9.2% after being upgraded from Bank of America to a buy rating. The bank highlighted the company’s relationship with Nike and product availability among its reasons for liking the stock.
Xerox – Shares fell 15% after a seller of print and digital document products and services reported disappointing earnings and cut full-year revenue guidance. “Profitability continues to be challenged by persistently high inflation and ongoing supply chain constraints,” Xerox CEO Steve Bandruchak said in a statement.
Brown and Brown – The insurance company’s shares fell 11% after Brown & Brown missed its earnings forecast. Brown & Brown reported earnings of 50 cents per share on revenue of $927.6 million. The company was expected to report earnings of 60 cents per share on revenue of $945.8 million, according to consensus estimates on FactSet.
Qualtrics International Shares of the customer feedback software company jumped 7.7% after Qualtrics reported better-than-expected earnings and raised its full-year forecast.
Ross Stores Non-price retail shares jump 5.8% after upgrading to overweight from Wells Fargo. The bank described Ross stores as one of the “best ways” to trade the sector.
succulents Shares of the German business software company rose 6% after SAP reported quarterly results that beat expectations and maintained its full-year forecast.
Boltgroup The home builder’s stock jumped 5.9% despite disappointing earnings expectations. PulteGroup reported earnings of $2.69 per share on revenue of $3.94 billion. Analysts surveyed by Refinitiv expected earnings of $2.82 per share on revenue of $4.17 billion.
Jet Blue — The airline slipped 3.6% after third-quarter earnings lost 21 cents a share, versus Refinitiv’s consensus estimate of 23 cents. Revenue was in line with estimates, at $2.56 billion. JetBlue generated $57 million in quarterly profit, due to higher travel demand and higher fares, which helped offset higher costs.
Planet Fitness Gym stock jumped 4.5% after Piper Sandler upgraded Planet Fitness to overweight from neutral, saying the stock is attractive and will get a boost from the participation of younger generations.
General motors General Motors shares rose 3.6% after the automaker beat third-quarter earnings expectations. The company also maintained its full-year forecast.
United Parcel Service – Shares of the delivery company gained 1% after UPS reported stronger-than-expected earnings for the third quarter. The company generated adjusted earnings of $2.99 per share, 15 cents better than analysts had expected, according to Refinitiv. However, revenue was below expectations, as the Supply Chain Solutions segment declined year-over-year. UPS maintained its guidelines throughout the year.
General Electric – The stock fell 1.8% after General Electric cut its full-year forecast due to supply chain issues. Other than that, the company posted stronger-than-expected revenue.
CNBC’s Michelle Fox, Jesse Pound, Carmen Renick and Samantha Sobin contributed to the report.
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