Market Insider

Stocks making the biggest moves midday: Canada Goose, Capri Holdings, General Mills & more

Canada Goose brand parkas in a store in New York.
Noam Galai | WireImage | Getty Images

Check out the companies making headlines midday Wednesday:

Canada Goose — Canada Goose shares plummeted more than 30% after the company issued disappointing full-year revenue guidance. The company said it expects revenue to grow at least 20% in the fiscal year. Analysts polled by FactSet expected a sales growth forecast of more than 26%.

Capri Holdings — The parent company of Michael Kors fell more than 9% after issuing fiscal first-quarter guidance that disappointed investors. Capri said it expects fiscal first-quarter earnings to range between 85 and 90 cents per share. Analysts polled by Refinitiv expected guidance of $1.23 earnings per share. The weak guidance overshadowed quarterly results that topped expectations.

Dick's Sporting Goods — Shares of Dick's Sporting Goods fell 5.9% after the company warned that tariffs were not incorporated into its 2019 earnings guidance. The company said it is working to determine their impact on its bottom line.

Abercrombie & Fitch — The retailer's stock plunged more than 26% after noting it expects same-store sales to remain flat for the current quarter, assuming tariffs do not increase. Abercrombie's first-quarter same-store sales also disappointed investors, and the company announced it would close three flagship stores.

Cara Therapeutics — Cara Therapeutics surged 20% after the biopharmaceutical company announced positive results for a Phase 3 trial of a clinical study for its medication, Korsuva, an injection for patients with kidney disease. Korsuva showed statistically-significant improvement in patients who took the medication when compared to a placebo.

General Mills — General Mills shares fell more than 5% after an analyst at Goldman Sachs downgraded the company to sell from neutral. The analyst cited worries over the company's slowing sales growth.

Roku — Shares of Roku jumped 3.3% after Needham raised its price target to $120 per share from $85. In a note to investors, Needham said the digital media company has "unique advantages" as an over-the-top aggregation platform.