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Stocks making the biggest moves midday: Norwegian Cruise Line, Unity Software, Viking Therapeutics and more
Check out the companies making headlines in midday trading. Norwegian Cruise Line — The cruise ship operator soared 19% on strong forward guidance. Norwegian expects a profit of 12 cents per share in the current quarter, topping analysts' consensus estimate calling for a loss of 20...
Check out the companies making headlines in midday trading. Norwegian Cruise Line — The cruise ship operator soared 19% on strong forward guidance. Norwegian expects a profit of 12 cents per share in the current quarter, topping analysts’ consensus estimate calling for a loss of 20 cents per share, according to FactSet. Unity Software — The video game developer dropped about 6% on disappointing EBITDA guidance. Unity expects adjusted EBITDA to range between $45 million and $50 million, versus the $113 million expected by analysts polled by FactSet. Viking Therapeutics — The clinical-stage biotech soared more than 120% after fulfilling primary and secondary endpoints in its Phase 2 GLP-1 study. Viking said its Phase 2 Venture trial showed weight loss in patients receiving the VK2735 treatment. Hess Corporation — The oil and gas explorer fell 3% after Chevron warned investors that a dispute involving Exxon Mobil and China’s National Offshore Oil Corp. (Cnooc) over Guyana’s offshore oil assets threatens the planned purchase of Hess. Chevron slipped 1.5%. Workday — Shares slipped 4% after posting quarterly results. Earnings came in at $1.57 per share, beating expectations of $1.47 per share, according to LSEG, formerly known as Refinitiv. Revenue of $1.92 billion matched analysts’ expectations. The cloud-based software vendor also reiterated guidance for fiscal 2025. Hims & Hers — The health platform soared 31% on better-than-estimated earnings as well as forward financial guidance. Hims & Hers earned 1 cent per share on $247 million in revenue in the fourth quarter, while analysts polled by LSEG expected a loss of 2 cents on $246 million in revenue. Hims & Hers also shared guidance for revenue and adjusted EBITDA that was above what analysts forecast. Macy’s — The department store chain added 3.4% after cost-cutting initiatives aimed at fending off activist investors offset mixed quarterly results and a decline in same-store sales growth. The Bloomingdale’s owner plans to close about 150 department stores and open new locations of better-performing chains. Lowe’s — Shares climbed nearly 1.8% to a 52-week high after the home improvement retailer reported better-than-expected earnings. Lowe’s earnings per share of $1.77 in the latest quarter surpassed an estimate of $1.68, according to LSEG. Lowe’s revenue topped expectations. Zoom Video — Shares rose 8% after the video chat software vendor posted fiscal fourth-quarter results that topped Wall Street’s expectations on the top and bottom lines. Zoom earned adjusted per share profit of $1.22 per share on $1.15 billion in revenue. Cava — The restaurant chain rallied 12% one day after its latest earnings and revenue exceeded analysts’ estimates. Cava’s fourth-quarter revenue of $175.5 million was 52% higher than a year ago and above the $174.3 million expected by analysts polled by FactSet. Cava also gave EBITDA guidance for the full year that surpassed estimates. Roku — Roku dipped nearly 1% after Wells Fargo downgraded it to underweight from equal weight, citing concerns that Walmart’s Vizio acquisition could hamper growth. Sprouts Farmers Market — Shares gained 1% after Bank of America Securities double upgraded the supermarket chain to buy from underperform, saying Sprouts’ differentiated assortment of goods is driving sales. The bank hiked its price target on the stock to $70 from $30, implying about 13% upside from Monday’s close. Duolingo — Shares of the language learning company rose nearly 6% following Seaport Research Partners’ initiation of research coverage with a buy rating. Duolingo is set to release fourth-quarter results on Wednesday. CarGurus — CarGurus shed more than 1% on weak financial guidance for the current quarter. The online car-selling platform topped Wall Street’s fourth-quarter expectations, but said it anticipated revenues and earnings to range between $201 million and $221 million, and 24 cents and 29 cents, respectively, in the first quarter. That was short of the $236 million in revenue and 31 cents in earnings per share that analysts polled by LSEG had expected. AutoZone — AutoZone gained nearly 7% after topping Wall Street fiscal second-quarter expectations on the top and bottom lines. The auto and truck parts retailer posted earnings of $28.89 per share on $3.85 billion in revenue. Coinbase — Coinbase shares rose about 3% as cryptocurrency prices jumped, sending bitcoin above $57,000 . Other crypto-connected stocks also rose, with CleanSpark gaining 2.7%. Microstrategy surged more than 9% after buying another 3,000 bitcoin . — CNBC’s Sarah Min, Michelle Fox, Alex Harring, Jesse Pound and Yun Li contributed reporting.
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