Stocks making the biggest moves midday: Amazon, Medtronic, American Eagle, Lowe’s, C3.ai and more
Check out the companies making the biggest moves midday: Amazon — The e-commerce behemoth slipped 2.4% after CNBC’s David Faber reported founder and Executive chair Jeff Bezos is expected to be “aggressive” in selling more shares of Amazon. The total sale could amount to more than $1 billion, sources told Faber. Burlington Stores — Shares popped 21.7% after the retailer raised the lower end of its full-year earnings guidance and said it is expecting total sales growth of 11% in 2024. That’s higher than analysts expected. Burlington also said November was off to a strong start. Medtronic — The medical equipment stock jumped 3.8% after the company posted better-than-expected earnings. Adjusted earnings per share came in at $1.25 on revenues of $7.98 billion, versus the $1.18 on revenues of $7.92 billion expected from analysts polled by LSEG. Kohl’s — Shares dropped more than 9% after the retailer reported weaker-than-expected revenues for the third quarter. Same-store sales were down 5.5%, it reported, versus the StreetAccount estimate of 3.8%. Kohl’s lowered the low end of its full-year same-store sales outlook. American Eagle Outfitters — The apparel retailer sank 16% after its operating income guidance for the full year came in weaker than expected. C3.ai — Shares of the artificial intelligence software company added 3.4% in midday trading following an upgrade to outperform from Oppenheimer. Analyst Timothy Horan noted C3.ai remains “one of the few pure plays helping customers drive new revenue sources.” Baidu — U.S. shares of the Chinese technology giant jumped 1.5% after revenue came in slightly higher than analysts forecasted. Baidu reported 34.45 billion yuan for the quarter, surpassing the consensus estimate of 34.33 billion yuan from analysts polled by LSEG. Lowe’s — Shares of the home improvement retailer dipped 2.7% after Lowe’s reported softer-than-expected revenue for the third quarter . The company generated $20.47 billion in revenue for the three months ended Nov. 3. Analysts surveyed by LSEG were looking for $20.89 billion. The company also lowered its full-year sales outlook, citing weaker demand from do-it-yourself customers. Symbotic — The stock surged 37% after Symbotic reported revenue and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the fiscal fourth quarter that topped expectations. VMWare — Shares shed 4.7% after Broadcom announced it received all required regulatory approvals to acquire VMWare and plans to close the $69 billion acquisition on Wednesday. Shares of Broadcom were down less than 1%. Dick’s Sporting Goods — The athletic goods retailer saw its shares rise 4.3% after posting strong quarterly earnings and revenue for its fiscal third quarter that beat analysts’ expectations. The company also hiked its full-year outlook after slashing it in the prior quarter over theft concerns. Abercrombie & Fitch — The stock slid 2.7% after the clothing retailer reported a big earnings beat for its third quarter, but delivered fourth-quarter guidance that was in-line with consensus estimates. Abercrombie shares have already gained more than 200% year to date. Agilent Technologies — The life sciences stock gained 8.3%. Agilent Technologies on Monday reported fourth-quarter earnings and revenue that topped FactSet consensus estimates, though its fiscal first-quarter and full-year guidance fell short of expectations. — CNBC’s Brian Evans, Alex Harring, Jesse Pound, Tanaya Macheel and Sarah Min contributed reporting.
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