The Trimble logo is displayed on a smartphone.
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Check out the companies making headlines in midday trading.
Trimble — The technology services provider surged 6.4% following an announcement that AGCO Corporation will acquire 85% of Trimble’s agribusiness for $2 billion in cash. The acquisition aims to expand AGCO’s precision agriculture portfolio.
DigitalBridge — Shares of the digital infrastructure company rose 5.8% after JPMorgan upgraded its rating to overweight from neutral, noting that DigitalBridge has successfully transformed its business.
Jefferies Financial Group — Despite a slowdown in deal-making, the financial services stock climbed over 2% as Jefferies reported earnings of 22 cents per share on revenue of $1.18 billion. The company’s CEO remains optimistic that investment banking activity will rebound.
Duolingo — Following an initiation of coverage by UBS with a buy rating, Duolingo saw a 4.5% increase. UBS praised Duolingo as a “best-in-class brand.”
Host Hotels & Resorts — Shares of the real estate investment trust gained 3.8% after receiving an outperform rating and a $22 price target from Wolfe Research.
Workday — The cloud services company experienced an 8.6% drop in share value after revising its long-term subscription growth target to a range of 17% to 19%, down from the previous target of 20%.
Accenture — Following the release of mixed results for its fiscal fourth quarter, the IT and consulting firm saw shares decline by nearly 5%. FactSet reported adjusted earnings per share of $2.71 on revenue of $15.99 billion, falling short of analysts’ expectations. Additionally, Accenture’s full-year guidance for earnings and cash from operations for the upcoming fiscal year did not meet expectations.
Micron — Shares of the chipmaker fell 2.7% as it provided a weaker-than-expected earnings forecast. Micron estimates a fiscal first-quarter loss of $1.07 per share, compared to analysts’ expectation of a loss of 95 cents. However, the company delivered better-than-expected results for its fiscal fourth quarter.
Peloton — Peloton stock rose 7% after announcing a five-year strategic partnership with Lululemon. As part of the deal, Peloton’s content will be featured on Lululemon’s exercise app, and Lululemon will become Peloton’s primary athletic apparel partner.
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