Check out the companies making headlines in midday trading.
Home Depot — Shares of the home improvement retailer fell 5.4% after after the company once again cut its 2019 forecast and reported same-store sales growth of 3.6%, well below the expected growth of 4.7%. Revenue for the third quarter also missed estimates, coming in at $27.22 billion, compared to the $27.53 billion expected, according to Refinitiv.
Kohl's — Shares of the retailer tanked more than 19% after reporting dismal quarterly earnings and lowering its profit outlook for the year. The company reported earnings of 74 cents per share on revenue of $4.36 billion. Wall Street expected earnings of 86 cents per share on revenue of $4.40 billion, according to Refinitiv. Same-store sales also missed analysts' forecasts.
Macy's — Shares of the department store tanked more than 10% as investors worried weaker results from Kohl's could mean the same slower spending at Macy's. Shares of retailer Gap also fell 3% and Nordstrom dropped 6% amid the overall fall in retail stocks. Macy's stock also dipped on reports of a customer data breach on October.
Slack — Shares of the messaging platform tanked 8.4% after Microsoft said its Teams communication app now has over 20 million daily active users. Microsoft's user numbers have more than doubled since its last usage announcement.
TJX — Shares of the retailer rose nearly 2% after reporting strong quarterly results. TJX reported earnings of 68 cents on revenue of $10.451 billion, while analysts forecast earnings of 66 cents on revenue of $10.316 billion, according to Refinitiv. Same-store sales rose 4%, topping estimates of 2.3% and the department store company raised its full-year earnings guidance.
AT&T — Shares of AT&T fell 4.1% after MoffettNathanson downgraded the stock to sell from neutral. The firm said strength in the company's wireless business, which represents 40% of revenues, likely won't be able to offset weakness in its other 60% of its struggling businesses.
Roku — Shares of the streaming device maker dropped 3.9% after the company announced plans to sell up to 1 million shares in a bid to raise capital. The company said it will use the proceeds for operating expenses and capital expenditures, as well as to fund any future acquisitions. Shares have surged almost 400% this year.
Broadcom — Shares of the chip maker gained 2.1% after Morgan Stanley upgraded the stock to an overweight rating. The firm said that the extension into software could be a value creator, and that the company already has a "strong position" in the semiconductor sector. Morgan Stanley raised its target on the stock to $367 from $298.
MSG Networks — Shares of MSG Networks dropped 3.2% after Guggenheim downgraded the stock to sell from neutral. The firm cited a "challenged negotiating position as it approaches contract renewals covering ~40% of its subscriber base."
PG&E — Shares of the California electric company fell more than 3% on a Bloomberg report that said the company is nearing a settlement of more than $1.7 billion with state regulators for maintenance failure of equipment involved in the 2017 wildfires.
—CNBC's Pippa Stevens contributed reporting.