San Jose, California – June 3, 2021 – A sign is prominently displayed in front of a Broadcom office. Justin Sullivan | Getty Images
Discover the latest movers and shakers in midday trading:
VMware – The cloud services company experienced a 2.8% decline following a mixed second-quarter report. Despite surpassing expectations for earnings per share, VMware fell short in terms of revenue.
Lululemon Athletica – The stock soared by 6% on Friday after the athletic apparel retailer announced better-than-expected earnings for the fiscal second quarter. Lululemon’s earnings per share of $2.68 exceeded analysts’ expectations of $2.54, and its revenue of $2.21 billion surpassed estimates of $2.17 billion. The company also raised its guidance for the year.
Broadcom – The chip stock declined by 5.5% as the company issued fiscal fourth-quarter revenue guidance slightly below Wall Street estimates. Concerns about competition in the networking chip space contributed to the decline. However, Broadcom reported better-than-expected earnings and revenue for the previous quarter.
Papa John’s – Following an upgrade by Wedbush to outperform from neutral, shares of the pizza chain increased by 1.9%. The firm believes that the stock is undervalued.
PagerDuty – The stock declined by 7.7% after PagerDuty provided third-quarter earnings guidance that fell short of analysts’ expectations. They anticipate earnings per share between 13 cents and 14 cents, below the StreetAccount consensus of 15 cents per share. Baird also downgraded PagerDuty from outperform to neutral, placing their shares in the “penalty box.”
A-Mark Precious Metals – The shares of this precious metals trading company surged by 10.9% during Friday’s trading session. Along with its latest quarterly results, the company announced a special dividend of $1 per share. A-Mark Precious Metals exceeded expectations with revenue totaling $3.16 billion, compared to estimates of $2.31 billion. However, its earnings per share came in at $1.71, slightly lower than analysts’ expectations of $1.76, according to StreetAccount.
Dell Technologies – Dell Technologies experienced a 21.3% surge on Friday after surpassing analysts’ expectations for the second quarter. The company reported adjusted earnings per share of $1.74 and revenue of $22.93 billion. Analysts polled by Refinitiv expected earnings per share of $1.14 and $20.85 billion in revenue. Morgan Stanley also named Dell a top pick in IT hardware.
Walgreens Boots Alliance – After Roz Brewer stepped down as the company’s chief executive and left the board, the drugstore chain’s stock declined by 7.4%.
Tesla – Tesla’s shares dropped nearly 5.1% after the electric vehicle maker reduced prices for certain Model S and Model X vehicles in China.
MongoDB – Following the release of its latest quarterly results, MongoDB saw an increase of just above 3%. The database software maker reported adjusted earnings of 93 cents per share and revenue of $423.8 million for the second quarter. These numbers surpassed 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 to this report.
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