Market Insider

Stocks making the biggest moves midday: Best Buy, IMAX, Campbell Soup, Mylan & more

Traders work on the floor of the New York Stock Exchange (NYSE) on February 5, 2018 in New York City.
Spencer Platt | Getty Images News | Getty Images

Check out the companies making headlines midday Wednesday:

Lowe's — Shares of Lowe's rose 2.47 percent after reporting a strong fourth-quarter earnings. However, the company also posted weaker than expected same-store sales. Lowe's cited a weak housing market in Canada as the reason behind its missed sales.

Dean Foods — Shares of Dean Foods dropped 13.85 percent after the company announced it was exploring its options. This includes potentially going for a sale.

Weight Watchers — Weight Watchers plummeted more than 30 percent after reporting fourth-quarter results that disappointed investors. The company posted adjusted earnings per share of 46 cents, well below an estimate of 60 cents.

Best Buy — Shares of Best Buy surged more than 14 percent on better-than-expected fourth-quarter results. The electronics retailer reported an adjusted quarterly profit of $2.72 per share, with revenue also beating forecasts. Best Buy also gave an upbeat full-year earnings forecast and announced a dividend increase to 50 cent per share from 45 cents.

IMAX —Imax surged 8.7 percent after the movie theater operator posted better-than-expected results. Imax reported fourth-quarter earnings of 26 cents per share, beating Refinitiv estimates of 24 cents per share. The company's revenue also surpassed Wall Street forecasts.

Palo Alto Networks — Shares of the cybersecurity company rose more than 8 percent after Palo Alto beat estimates on both the top and bottom lines. The company saw a 33 percent jump in its products business and a 29 percent increase in services revenue. It also gave an upbeat revenue forecast.

Chesapeake Energy — The oil and gas exploration company's stock jumped 10.27 percent as its quarterly results blew past Wall Street estimates. The company reported earnings per share of 49 cents for the fourth quarter. Analysts polled by Refinitiv expected a profit of 19 cents per share.

Papa John's International — The pizza maker's stock rose 2.3 percent, shaking off disappointing fourth-quarter results. Papa John's reported adjusted earnings per share of 15 cents a share on revenue of $374 million. Analysts expected a profit of 17 cents a share on sales of $390.1 million.

Mylan — Mylan shares dropped more than 12 percent after the company issued a bleak earnings outlook for 2019. The company said it expects earnings per share this year to range between $3.80 and $4.80, well below a FactSet median point of $5.03.

Campbell Soup — Shares of Campbell jumped 10 percent on the release of fourth-quarter earnings that beat expectations. Campbell reported earnings of 77 cents per share; revenue also beat forecasts.

TiVo — TiVo's fourth-quarter results sent its shares down more than 13 percent. The company posted a loss of $2.33 per share, compared to a profit of 15 cent in the year-earlier period. TiVo also said it will continue to explore strategic alternatives moving forward.

—CNBC's Yun Li and Nadine El-Bawab contributed to this report.

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