Market Insider

Stocks making the biggest moves midday: AutoZone, Stitch Fix, PG&E & more

An employee, right, helps a customer change a license plate bulb outside an AutoZone store in Princeton, Illinois.
Daniel Acker | Bloomberg | Getty Images

Check out the companies making headlines midday Tuesday:

Autozone — Shares of Autozone jumped nearly 7% after posting strong fiscal first quarter earnings. The company reported earnings of $14.30 on revenue of $2.793 billion. Wall Street estimated earnings of $13.74 per share on revenue of $2.765 billion, according to Refinitiv. Same-store sales rose 3.4%, above estimates of 2.5%.

Stitch Fix — Personal styling company Stitch Fix surged nearly 9% after reporting fiscal first quarter earnings that topped analysts' expectations. The company reported earnings of 0 cents per share, when analysts were expecting a loss of 6 cents per share. Revenue came in at $445 million, higher than the forecast $441 million, according to Refinitiv. Active clients came in line with estimates at 3.4 million.

Casey's General Stores — Shares of Casey's General Stores tanked more than 9% after the convenience store posted disappointing quarterly revenue and lowered its full-year outlook. Casey's beat estimates by 6 cents with quarterly earnings of $2.21 per share, however.

Netflix — Shares of the streaming service fell more than 1.5% after Needham downgraded the stock to an underperform rating. The firm said a slowdown in subscribers as well as an increase in competition could hit the stock.

Chewy — Shares of the pet food company gained more than 5% after the online pet products seller reported better than expected revenue and also raised its full-year sales guidance. Chewy lost 20 cents per share for its third quarter, 4 cents wider than analysts had been anticipating, however.

PG&E — Shares of PG&E jumped more than 12.5% after the natural gas company said it plans to take a $4.9 billion charge against current quarter earnings, in connection with the $13.5 billion settlement with wildfire victims. That would bring the total fire-related charges for the utility to $25 billion, the company disclosed in a securities filing Monday.

Toll Brothers — Shares of Toll Brothers dropped more than 3.5% despite stronger-than-expected quarterly results. The luxury home builder earned $1.52 per share in its fiscal fourth quarter, 11 cents above estimates per Refinitiv. Its revenue also beat expectations. Raymond James analyst Buck Horne flagged Toll's adjusted gross margin guidance of 21.3% in the first quarter of 2020 is almost a 3% decline from the same quarter last year.

Comcast — Shares of Comcast fell nearly 2% after the media company announced it plans to spend $2 billion on content and marketing for its Peacock streaming service. The NBCUniversal and CNBC parent will debut the Peacock service in April.

Agilent Technologies — Shares of Agilent Technologies gained nearly 2% after hedge fund investor Bill Ackman revealed he has taken a stake in the lab testing equipment maker. A regulatory filing showed Ackman's hedge fund, Pershing Square Capital, owns more than 2.9 million Agilent shares, bringing his stake to around $246 million.

— CNBC's Maggie Fitzgerald and Pippa Stevens contributed reporting.