Stocks making the biggest moves midday: CarMax, Accenture, Peloton, Jefferies and more

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The Trimble logo is displayed on a smartphone.

Igor Golovniov | SOPA Images | LightRocket | Getty Images

Check out the companies making headlines in midday trading.

Trimble — The technology services provider jumped 6.5% Thursday on the back of an announcement that AGCO Corporation will acquire an 85% stake in Trimble’s agribusiness for $2 billion in cash, as the tractor and seeding equipment firm looks to grow its precision agriculture portfolio.

DigitalBridge — Shares of the digital infrastructure company added 4.8% after JPMorgan upgraded the company to overweight from neutral. The firm said DigitalBridge is largely finished with the transformation of its business.

Jefferies Financial Group — The financial services stock rose 1.9% even though the company’s third-quarter profits were hurt by a slowdown in deal-making. Jefferies reported earnings of 22 cents a share on revenue $1.18 billion after the market closed. Still, the company’s CEO expressed optimism that momentum in investment banking activity will return.

Duolingo — Shares gained 3.2% on Thursday after UBS initiated coverage of Duolingo the day prior with a buy rating, saying it’s a “best-in-class brand. “

Host Hotel & Resorts – Shares rose 3.5% on Thursday after Wolfe Research began coverage of the realty investment trust. The firm gave it an outperform ranking. The firm set a price target of $22 for the company.

Workday — Shares plunged 8.5% a day after the cloud services company lowered its long-term subscription growth target to a range of 17% to 19%, compared to its previous target of 20%.

Accenture — Shares of the IT and consulting firm fell 4.3% Thursday after Accenture reported mixed results for its fiscal fourth quarter. The company reported adjusted earnings of $2.71 per share, on revenue of $15.99 billion. FactSet said analysts expected $2.65 per share for $16.07 billion in revenue. The company’s full-year guidance for the upcoming fiscal year for earnings and cash from operations also came in below expectations, according to StreetAccount.

Micron — The chipmaker’s shares fell 4.4% a day after Micron posted a weaker-than-expected earnings forecast. Micron expects a fiscal-first-quarter loss per share of $1.07, while analysts polled at LSEG (formerly Refinitiv) expected a 95-cent loss. For the fiscal fourth quarter, the company reported a narrower-than-expected loss as well as revenue that topped expectations.

Peloton — Peloton popped 5.4% Thursday. Peloton announced a strategic partnership with Lululemon on Wednesday. As part of the deal, Peloton’s content will be available on Lululemon’s exercise app and Lululemon, in turn, will become Peloton’s primary athletic apparel partner.

CarMax — Shares fell 13.4%. Earnings and revenue for the used-car retailer fell from a fiscal second quarter a year earlier due to a weakening in demand for used vehicles. The company reported that it had earned 75 cents a share, on revenue of $7.07billion. It also said that it purchased 14.9% less vehicles from dealers and consumers compared to the previous year due to steep depreciation.

Concentrix — Shares gained 6.8% a day after Concentrix said it would hike its quarterly dividend 10% to about 30 cents a share. Separately the consumer experience technology company reported adjusted earnings of $2.71 on revenue of $1.6 billion. FactSet analysts had expected Concentrix to earn $2.85 and revenue of $1.64 million.