Stocks making the biggest moves midday: Nordstrom, Hasbro, Hawaiian Electric, Affirm and more

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Shoppers walk by a Nordstrom sign at Westfield San Francisco Centre in San Francisco, May 11, 2023.

Justin Sullivan | Getty Images

Check out the companies making the biggest moves midday:

Nordstrom — The department store retailer sank 7.73% even after topping fiscal second-quarter earnings and revenue expectations. The earnings came in at 40 cents higher than the 44 cents analysts expected, according to Refinitiv. Nordstrom’s sales fell below the pre-pandemic level and it remained committed to its previous outlook for the full year, which was a revenue decline of single digits. The company warned that theft losses were at “historical heights”. “

Affirm — The buy now, pay later firm saw its shares skyrocket 28.82% after the company reported fiscal fourth-quarter results that topped expectations on the back of higher gross merchandise volume. Affirm also gave strong guidance for the fiscal first quarter, projecting $430 million to $455 million in revenue, versus analysts’ expectations of $430 million.

Hawaiian Electric — The utility stock plunged 18.55% following news that Maui County is suing the company for damages related to the island’s wildfires, which killed more than 100 people. Hawaiian Electric is accused of leaving its power lines on despite warnings from the National Weather Service about high wind and drought conditions creating a high risk for fire. The company told NBC News it is disappointed the county chose a litigious path and noted the investigation is still unfolding.

Hasbro — The toy maker’s stock rallied 5.66% after Stifel boosted its price target to $94 from $79 Thursday, implying about 43% upside from Thursday’s close. Wall Street firm added the stock to its list of top picks, citing important changes and opportunities in the company. Bank of America raised its price target on Tuesday to $90, up from $85. Shares are up nearly 9% week to date.

Advance Auto Parts — Shares fell 5.64% after the auto parts retailer was dropped from the S&P 500 on Friday.

Workday — The stock gained nearly 5.38% following the enterprise software company’s stronger-than-expected results for the second quarter. According to Refinitiv, adjusted earnings per share were $1.43, compared to $1.26 that analysts had predicted. Revenue was $1.79 billion, versus the $1.77 billion expected.

Intuit — Shares added 4.12% and hit a 52-week high after the software company’s earnings topped expectations. Analysts polled by Refinitiv had expected $1.44 per share for the fiscal fourth quarter adjusted earnings. Instead, they received $1.65. The company’s revenue was $2.71 billion compared to the expected $2.64 billion. The company also shared stronger-than-expected full-year guidance.

Gap — The retailer added 7.24% after posting mixed quarterly results. According to Refinitiv, adjusted earnings per share were 34 cents compared to the consensus estimate which was 9 cents. Gap’s revenue was $3.55 billion, below the $3.57 billion expected.

Marvell Technology — Marvell shed 6.62% despite posting a slight earnings beat. According to Refinitiv, the company’s second-quarter earnings per share were 33 cents, as opposed to the 32 cents that was expected. Revenue was $1.34 billion, compared with the $1.33 billion consensus estimate.

Ulta Beauty — The beauty retailer’s shares fell 3.69%, reversing earlier gains from its better-than-expected quarterly results. Ulta reported $6.02 earnings per share and $2.51 billion revenue for the second quarter. Refinitiv reported that analysts had predicted $5.85 per share in earnings and $2.51billion in revenue. The company also raised its full-year guidance.

AMC Entertainment — Shares fell 13.5% after the company converted its preferred equity units into common stock.

Shift4 Payments — The payment company climbed 1.9% following a Morgan Stanley upgrade to equal weight from underweight. Morgan Stanley upgraded the payment company to equal weight from underweight.