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Stocks making the biggest moves midday: Nvidia, SolarEdge, Teladoc, Wingstop and more
Check out the companies making headlines in midday trading. Nvidia — Nvidia fell 2.9% during midday trading and built on Tuesday's more than 4% loss ahead of its quarterly print after the bell. Investors will be closely watching the chipmaker's results for insights into how long its...
Check out the companies making headlines in midday trading. Nvidia — Nvidia fell 2.9% during midday trading and built on Tuesday’s more than 4% loss ahead of its quarterly print after the bell. Investors will be closely watching the chipmaker’s results for insights into how long its massive growth cycle can go. SolarEdge Technologies — Shares slid 12.2% after the solar company’s latest earnings report. While SolarEdge saw a smaller loss per share than Wall Street anticipated, revenue was well under analysts’ estimates. First-quarter revenue is expected to be $175 million to $215 million, far below the $406 million forecast. Teladoc — Shares dropped 23.7% on Wednesday, the day after the online health-care company released worse-than-expected revenue and guidance. Teladoc posted $661 million in revenue, below the $671 million consensus forecast from LSEG, formerly known as Refinitiv. The company reported a loss of 17 cents per share, narrower than the 21 cent figure anticipated by analysts. For the current quarter, Teladoc guided revenue between $630 million and $645 million, lower than the estimate of $673 million from analysts, according to LSEG. Palo Alto Networks — The cybersecurity stock dived 28.4% after cutting full-year guidance for revenue and billings . The company expects revenue growth of between 15% and 16% for the full year, down from its prior range of between 18% and 19%. RingCentral — Shares advanced 2.5% on a fourth-quarter beat on the top and bottom lines. However, the cloud company offered a weak outlook for the current quarter and a mixed forecast for the full year. Toll Brothers — The homebuilder’s shares jumped 4% on the back of its better-than-expected earnings report. Toll Brothers posted earnings per share of $2.25, higher than an estimate of $1.78, according to LSEG. Revenue of $1.93 billion also outpaced expectations. Norfolk Southern — Shares added 1.5% after Barclays upgraded the railroad operator to overweight from equal weight. As a catalyst for the change, the bank cited upcoming shake-ups in leadership, including the ousting of CEO Alan Shaw. Amazon , Walgreen Boots Alliance — S & P Dow Jones Indices announced Tuesday that Amazon would replace Walgreens Boots Alliance in the Dow Jones Industrial Average next week. Amazon was up 0.9%, while Walgreens Boots Alliance shares slipped 2.5% HSBC — The U.S.-traded shares of the global bank fell 8.9% Wednesday after fourth-quarter results showed falling profit and revenue. HSBC also took a $3 billion charge on a write-down of its position in China-based Bank of Communications. Wingstop — The restaurant chain slipped 4.4% despite reporting fourth-quarter earnings and revenue that topped analysts’ estimates. However, total revenue growth came down for the fourth consecutive quarter. Wingstop guided for mid-single-digit domestic same-store sales growth for the full year. Beyond Meat — Shares fell added 2.1% after the company announced that it is launching a new version of its plant-based burger in grocery stores this spring. The move aims to lure back consumers amid waning interest. The stock is down more than 20% this year. Wix.com — Shares jumped 5.9% after the website builder reported quarterly earnings and revenue that beat expectations. Wix.com reported fourth-quarter earnings of $1.22 per share, more than the consensus estimate from StreetAccount of earnings of 96 cents per share. Revenue of $403.8 million topped the expectation of $402.6 million. Garmin — Shares soared 8.8% after the company’s fourth-quarter earnings and revenue and its full-year forecast beat expectations. Garmin also increased its quarterly dividend and announced a $300 million stock repurchase plan. International Flavors & Fragrances — Shares dropped 6.4% after the food ingredients manufacturer’s fourth-quarter earnings missed estimates and it announced a dividend cut. Full year revenue estimates were also weaker than analysts expected. — CNBC’s Hakyung Kim, Michelle Fox, Lisa Kailai Han, Jesse Pound, Samantha Subin, Yun Li and Sarah Min contributed reporting.
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