In midday trading, several companies made headlines with significant stock movements. Dell Technologies saw its stock plunge by 18% after executives warned of potential gross margin pressure in 2025. Lionsgate Studios, on the other hand, saw a 3% increase in its shares after Citi initiated coverage of the film studio with a buy rating, citing the spin-off of its Starz business as a potential catalyst for margin expansion. Zscaler experienced a 9% increase in shares following a fiscal third-quarter earnings and revenue beat, reporting earnings of 88 cents per share on revenue of $553 million.
Nordstrom’s shares jumped 5% after the department store operator posted solid quarterly sales growth, with Nordstrom Rack outperforming the flagship brand. Despite falling short of Wall Street’s earnings expectations, Nordstrom maintained its full-year forecast. Gap surged 29% after reporting higher-than-expected earnings per share and revenue for the fiscal first quarter. Ambarella also saw a 21% increase in shares after forecasting continued revenue growth in fiscal 2025, driven by robust demand for artificial intelligence.
Marvell Technologies, on the other hand, saw its stock plunge by 10% after missing first-quarter earnings expectations with earnings per share of 24 cents on $1.16 billion in revenue. MongoDB’s shares plummeted by 24% as the technology company trimmed its second-quarter guidance and full-year forecast. SentinelOne dipped 13% after issuing a revenue outlook below analysts’ expectations. VF Corporation surged 8% after announcing a new global brand president for Vans, and Cooper Companies added 5% following a fiscal second-quarter adjusted earnings beat.
Paycom Software’s stock fell by 9% after announcing an executive shake-up, while First Solar slipped 2% after being downgraded to neutral from buy by Mizuho. Analysts pointed out that the stock’s current price already reflects its strong pricing power. Overall, various companies in different sectors experienced a mix of positive and negative movements in midday trading, with factors such as earnings reports, executive changes, and forecasts impacting investor sentiment.
