Deere, Foot Locker, Palo Alto Networks and more

The Deer & Co. tractor is shown. The fully autonomous John Deere 8R before the Consumer Electronics Show (CES) on January 4, 2022 in Las Vegas, Nevada.

Patrick T. Fallon | AFP | Getty Images

Check out which companies are making the headlines in midday trading.

Deere – The stock fell 14.1% after Deere reported a revenue failure but outperformed earnings last quarter. The equipment manufacturer reported earnings per share of $6.81 on revenue of $12.03 billion. Analysts expected $6.71 per share for $13.2 billion in revenue.

Palo Alto Networks — Shares of the cybersecurity company jumped 9.7% after it beat analyst estimates on the top and bottom lines last quarter and raised its forecast for the current quarter.

Ross Stores — Shares of the discount retailer fell 22.5% after the company reported weaker-than-expected earnings and revenue for the fourth quarter and issued weak fiscal guidance due to inflationary pressures and other macroeconomic conditions.

Applied Materials – The semiconductor equipment manufacturer’s inventory fell 3.9% after reporting a second-quarter earnings and revenue failure. Applied Materials also shared weak guidance for the current quarter amid supply chain issues exacerbated by the shutdown in China.

Match Group – The dating app’s stock rose 2.2% after Match announced it had reached an interim payments agreement with Google affiliate Alphabet. The deal prevents Google from forcing Match to use Google Play Billing for its paid products and allows apps like Tinder to remain in the Google Play Store.

Eli Lilly — The drug company gained 4.5% after the European Commission for Medicinal Products for Human Use recommended approval of the company’s centrally authorized treatment for adults with severe alopecia areata. The company expects additional regulatory decisions in the United States and Japan this year.

Foot Locker — Shares of the athletic footwear and apparel retailer rose nearly 4.1% after the company reported better-than-expected quarterly earnings. Foot Locker reported adjusted quarterly earnings of $1.60 per share, 5 cents above estimates per Refinitiv. Same-store sales also fell by less than half what analysts had expected.

Hewlett-Packard Enterprise — Stocks fell 5.9% after Bank of America downgraded the stock to neutral from buy as it faces worsening supply chain problems.

Bill.com – The expense management company’s stock rose about 3.7% after JPMorgan began coverage with a buy rating. The company called Bill.com a “real growth stock” that deserves a premium multiplier.

VF Corp. – The owner of clothing brands like North Face, Timberland and Supreme added 6.1% despite reporting a slight loss at the top and bottom of the lines last quarter.

Deckers Outdoor — Shares of the footwear company jumped 12.6% after beating estimates on the top and bottom lines last quarter. Deckers earned $2.51 per share on revenue of $736 million. The consensus estimate of expected earnings of $1.32 per share on revenue of $639 million.

CNBC’s Jesse Pound, Tanya Machel, and Yoon Lee contributed reporting.

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