Stocks making the biggest moves midday: Chemours, Snowflake, Hormel, C3.ai and more

The Paramount+ logo is seen on a smartphone.
Pavlo Gonchar | SOPA Images | LightRocket | Getty Images

Stay updated on the companies creating buzz in midday trading.

Hormel Foods

— Stocks skyrocketed by 13.3% following the food processing company surpassing fiscal first-quarter earnings and revenue expectations. An impressive earnings of 41 cents per share and revenue of $3 billion was reported, surpassing FactSet’s expectations. The company projects continued growth and improvement in its food service and international segments.

Monster Beverage

— Stocks ascended around 5% after the energy drink manufacturer reported substantial January sales and gross margin expansion, despite posting expected adjusted earnings and a slight revenue miss for the fourth quarter. Both Morgan Stanley and RBC elevated their price targets for the stock.

C3.ai

— This artificial intelligence software stock surged more than 24% after C3.ai reported adjusted loss per share narrower than expected and revenue that also beat market expectations.

Chemours

— Stocks plunged more than 33% as the chemical company’s top executives were put on leave due to a potential internal review over “material weaknesses” in its financial reporting. Consequently, the fourth-quarter earnings report was delayed.

Okta

— Stocks leaped by 20% following Bank of America Securities’ double upgrade of the identity management company to buy from underperform. The bank also raised its price target to $135 from $64, suggesting a nearly 55% upside from Wednesday’s close.

Birkenstock

— The newly public footwear maker’s stocks soared over 6% following a revenue surge of 22% motivated by increased pricing and rising U.S. demand.

Best Buy

— Stocks appreciated 3% after the consumer electronics retailer posted quarterly results that beat expectations, with adjusted earnings of $2.72 per share and revenue of $14.65 billion.

Snowflake

— Stocks sank nearly 20% due to disappointing product revenue guidance for the first quarter and the announced retirement of CEO Frank Slootman.

Paramount Global

— Shares ascended nearly 3% after the media company posted an unexpected quarterly profit. However, the company missed fourth-quarter revenue expectations.

Pure Storage

— Stocks soared more than 22% following stronger-than-expected fourth-quarter earnings, coupled with positive first-quarter guidance.

AMC Entertainment Holdings

— Stocks slipped nearly 12% following the posting of a wider loss than expected although fourth-quarter revenue of $1.1 billion did beat expectations.

Figs

— Share values decreased more than 16% after the apparel company reported disappointing fourth-quarter sales and announced the departure of its CFO in April.

Celsius Holdings

— The energy drink manufacturer’s shares surged nearly 19% after a stronger-than-expected earnings report, hitting an all-time high.

Duolingo

— Shares surged up to 22% as the educational technology company exceeded fourth-quarter estimates, presenting strong first-quarter and full-year revenue forecasts.

Share This Article

 

About the Author

Stocks making the biggest moves midday: Chemours, Snowflake, Hormel, C3.ai and more

Editor Prism MarketView