A sign is posted in front of a Broadcom office in San Jose, California, June 3, 2021.
Thank you for reading this post, don't forget to subscribe!Justin Sullivan | Getty Images
Check out the companies making headlines in midday trading:
VMware — The cloud services company slid 2.8%, a day after giving a mixed second-quarter report. While VMware surpassed expectations for earnings per share, it missed on revenue.
Lululemon Athletica — The stock popped 6% on Friday after the athletic apparel retailer reported an earnings beat following Thursday’s close. Fiscal second-quarter earnings per share came in at $2.68, versus the $2.54 expected from analysts polled by Refinitiv. Revenue was $2.21 billion, topping estimates of $2.17 billion. Lululemon also upped its guidance for the year.
Broadcom — The chip stock lost 5.5% after the company issued fiscal fourth-quarter revenue guidance that was slightly below Wall Street estimates amid concerns about competition in the networking chip space. Broadcom did report better-than-expected earnings and revenue for the latest quarter, however.
Papa John’s — The pizza chain climbed 1.9% following a Wedbush upgrade to outperform from neutral. The firm said shares were too cheap.
PagerDuty — The stock declined 7.7% after PagerDuty issued third-quarter earnings guidance that missed analysts’ expectations. The company expects earnings per share between 13 cents and 14 cents for the quarter, below a StreetAccount consensus of 15 cents per share. Baird also downgraded PagerDuty to neutral from outperform, saying its shares are in the “penalty box.”
A-Mark Precious Metals — Shares of the precious metals trading company soared 10.9% during Friday’s trading session after the company posted its latest quarterly results and announced a $1 per share special dividend. Revenue totaled $3.16 billion, exceeding expectations of $2.31 billion. The company’s earnings per share came out at $1.71, however, which was lower than analysts’ expectations of $1.76, according to StreetAccount.
Dell Technologies — Dell Technologies surged 21.3% Friday after exceeding analysts’ second-quarter expectations. The computer company reported adjusted earnings per share of $1.74 and revenue of $22.93 billion. Analysts polled by Refinitiv anticipated earnings per share of $1.14 and $20.85 billion. Morgan Stanley also named Dell a top pick in IT hardware.
Walgreens Boots Alliance — The drugstore chain declined 7.4% after the company announced Roz Brewer had stepped down as the company’s chief executive and left the board.
Tesla — Shares of Tesla dropped nearly 5.1% after the electric vehicle maker cut prices for some Model S and Model X vehicles in China.
MongoDB — MongoDB gained just above 3% on Friday after topping Wall Street expectations in its latest quarter. The database software maker posted adjusted earnings of 93 cents per share on revenue totaling $423.8 million for the second quarter. Those results topped expectations of 46 cents in earnings per share and $393 million in revenue, according to a consensus estimate from Refinitiv.
— CNBC’s Yun Li, Alex Harring and Michelle Fox Theobald contributed reporting.
