These are some of the stocks posting the largest moves in midday trading Thursday

September 05, 2024 | 12:37pm

Stocks making the biggest moves midday: JetBlue, Hewlett Packard Enterprise, Tesla, G-III Apparel and more

These are some of the stocks posting the largest moves in midday trading Thursday

Check out the companies making headlines in midday trading: JetBlue Airways — The New York-based airline popped more than 8% after hiking its forward guidance for third-quarter revenue. JetBlue now expects revenue to be in a range of down 2.5% to up 1%, compared to the same period a year ago. Previously, a loss between 5.5% and a loss of 1.5% was expected. G-III Apparel Group — Shares surged 24% after the apparel maker posted second-quarter results that topped estimates. Adjusted earnings of 52 cents per share beat the 27 cents a share that analysts expected, according to FactSet. Revenue of $644.8 million fell a bit short of the $649.5 million estimate. Hewlett Packard Enterprise — Shares dropped 6% after Hewlett Packard Enterprise saw gross margins decline from a year ago. Fiscal third-quarter results beat expectations, with Hewlett Packard Enterprise citing robust demand for artificial intelligence products. Frontier Communications , Verizon Communications — Shares of Frontier Communications tumbled 9% after Verizon said it will buy the fiber-optic internet provider in an all-cash deal worth $20 billion, or $38.50 a share. Frontier had soared 38% on Wednesday on leaked reports of a potential deal. Verizon was down fractionally Thursday. Shoe Carnival — Shares jumped 12% after the retailer beat second-quarter earnings estimates and raised the lower end of its third-quarter and full-year financial guidance. Shoe Carnival reported adjusted earnings of 83 cents per share on revenue of $332.7 million, while analysts polled by FactSet anticipated earnings of 81 cents per share on revenue of $331.5 million. Casey's General Stores — Shares popped more than 5% after the convenience store chain posted fiscal first-quarter earnings of $4.83 per share, topping the $4.50 in earnings per share expected by analysts, according to FactSet. Revenue of $4.10 billion trailed the $4.15 billion estimate. ChargePoint — The stock plummeted nearly 20% after the electric vehicle charging company's second-quarter revenue was short of expectations. ChargePoint posted $109 million in revenue for the period, while analysts surveyed by LSEG were expecting $114 million. The company also plans to cut 15% of its workforce and expects third-quarter revenue to come in below estimates. Verint Systems — The automation stock dropped 11.6% following a worse-than-expected earnings report for the second quarter. Verint earned an adjusted 49 cents per share on $210 million in revenue, while analysts polled by LSEG had anticipated 53 cents a share and $213 million in revenue. C3.ai — Shares tumbled 19.2% after the enterprise artificial intelligence company posted weaker-than-expected subscription revenue. In its fiscal first quarter, C3.ai saw $73.5 million in revenue, lower than the $79.2 million forecast by analysts polled by FactSet. Credo Technology Group — Shares moved more than 17% lower following the company's fiscal first-quarter results. For the quarter, Credo had adjusted earnings of 4 cents per share, in line with what analysts polled by FactSet were expecting, but shy of the highest estimate at 5 cents per share. Roku — Shares of the streaming platform rose 5% following an upgrade to equal weight from underweight at Wells Fargo. The bank pointed to the Roku Channel as a catalyst, saying it continues to be a share gainer in TV time with potential monetization upside, analyst Steven Cahall wrote. Tesla — Shares of the electric vehicle company jumped 3.8% after Tesla said it would roll out its advanced driver assistance in Europe and China in the first quarter of 2025, "pending regulatory approval." The technology is marketed by Tesla as "Full Self Driving," and upgrades Tesla's Autopilot driver assistant. Old Dominion Freight Line — Shares dropped about 7% after Old Dominion Freight Line year-over-year daily revenue slumped 5.2% in August as less-than-truckload tonnage fell 6.1%. Zimmer Biomet — Shares slid nearly 8% after the medical device maker at a Wells Fargo conference noted a "temporary challenge" with the transition of a legacy software system that could have a 1% effect on fiscal-year sales, according to FactSet. McKesson — Shares dropped more than 8% after the medical supply distributor, at a Wells Fargo conference, issued weaker-than-expected fiscal second-quarter earnings guidance, according to FactSet. McKesson anticipates earnings of $6.70 to $7.00 per share, lower than the FactSet consensus estimate of $7.39 in earnings per share. Toro Company — Shares dropped 10% after the lawn mower and landscaping equipment maker missed earnings and revenue expectations. In its fiscal third quarter, Toro posted adjusted earnings of $1.18 per share on revenue of $1.16 billion. Analysts polled by FactSet had estimated $1.23 in earnings per share on revenue of $1.26 billion. — CNBC's Sean Conlon, Michelle Fox, Lisa Han, Alex Harring, Yun Li and Pia Singh contributed reporting.

This story originally appeared on: CNBC - Author:Sarah Min