Zoom founder Eric Yuan poses in entrance of the Nasdaq constructing because the display reveals the emblem of the video-conferencing software program firm Zoom after the opening bell ceremony on April 18, 2019 in New York Metropolis.
Kena Betancur | Getty Photographs
Try the businesses making headlines in noon buying and selling.
Zoom — The video-conferencing software program firm noticed its shares tumble greater than 15% after its quarterly report confirmed slowing income development amid powerful year-over-year comparisons as workplaces reopen and dwell occasions return. Zoom CFO informed CNBC there are headwinds in its mass markets, particularly particular person customers and small companies. The drop in shares got here at the same time as Zoom’s earnings beat estimates and the corporate raised full-year steerage.
Virgin Galactic — Virgin Galactic shares gained 8.3% after Jefferies initiated coverage of the area journey inventory with a purchase score. In Jefferies’ survey of people with over $1 million in web value, a 3rd of respondents expressed curiosity in going to area, with 20% prepared to spend 5% of their web value to take action.
Chico’s FAS — Chico’s shares sunk almost 17% regardless of the attire retailer’s better-than-expected quarterly earnings. The corporate reported an surprising quarterly revenue of 21 cents per share, in comparison with Refinitiv consensus estimates of an 8 cents per share loss. Income additionally beat Wall Avenue expectations.
Designer Brands — Shares of Designer Manufacturers, which owns Designer Shoe Warehouse, fell greater than 9% regardless of an earnings beat. The retailer reported quarterly earnings of 56 cents per share, in comparison with a 24 cents a share Refinitiv consensus estimate. Income additionally topped analyst forecasts.
NetEase — Chinese language gaming large NetEase’s inventory gained 4.8% after reporting better-than-expected second-quarter earnings, with income according to forecasts. The inventory fell Monday, when China’s Nationwide Press and Publication Administration revealed a brand new rule limiting children’ on-line online game time to simply three hours per week to safeguard their bodily and psychological well being.
Textron — Shares of Textron jumped 1.1% after Cowen upgraded the stock to outperform from market carry out, citing sturdy demand for enterprise jets and a compelling alternative with electrical aircrafts. The agency additionally hiked its worth goal on the inventory to $95 per share from $75, implying 32% upside from Textron’s Monday closing worth.
Occidental Petroleum — Shares of the oil exploration firm rose 1.4% after Citi initiated coverage of the inventory with a purchase score. The funding agency stated in a notice to shoppers that the inventory provided extra upside than a few of its power friends.
Support.com — Help.com shares retreated 12.3% after operating up 38% the prior buying and selling session fueled by retail buyers coordinating in Reddit boards. The inventory has a excessive degree of quick curiosity, which may clarify why retail merchants coalesced across the small-cap title.
— CNBC’s Tanaya Macheel, Yun Li and Jesse Pound contributed reporting
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