Stocks making the biggest moves midday: Canada Goose, Bumble, Sonos & more
Check out the companies making headlines in midday trading.
Canada Goose — Shares of the retailer slid 6% despite beating analysts' earnings expectations. Canada Goose reported earnings of 1 cent per share, compared to the loss of 12 cents forecast by Wall Street, according to Refinitiv. The company made $209 million in revenue, higher than the expected $161 million.
UTZ Brands — Shares of the food company dropped more than 6% after missing on the top and bottom lines of its quarterly results. The pretzel-maker earned 13 cents per share on revenue of $269 million. Analysts expected earnings of 14 cents per share on revenue of $275 million, according to Refinitiv.
Bumble — Shares of the dating app company fell more than 10% despite higher-than-expected sales numbers for the first quarter. Bumble reported first-quarter revenues of $170.7 million, while analysts expected $164.6 million. The company raised its forward revenue guidance, but some Wall Street analysts said that the raise appeared conservative.
Boeing — Shares of the Dow component rose 2% in midday trading after U.S. airlines started fixing scores of 737 Max planes grounded last month due to an electrical issue. The Federal Aviation Administration approved the repairs that had grounded more than 100 planes in April.
Lowe's — Lowe's stock gained 2.5% before noon in New York after Oppenheimer upgraded the home-improvement retailer to an outperform rating. Analyst Brian Nagel told clients that the rotation back into cyclical stocks and its relative cheapness makes it a compelling buying opportunity.
Vroom — Shares of the company gained more than 2% after Vroom reported a smaller-than-expected loss for the first quarter, with revenue also beating Street expectations. The company said total gross profit nearly doubled year over year.
Sonos — Sonos shares jumped 7% after the company reported a surprise profit for its fiscal second quarter. Sonos earned 12 cents per share on an adjusted basis, compared to the 22-cent loss per share analysts surveyed by FactSet were expecting. Revenue also beat estimates, and the company raised its full-year outlook.
Poshmark — The online consignment retailer's shares plunged more than 15% even after a better-than-expected quarterly report. Poshmark reported an adjusted first quarter loss of 33 cents per share, smaller than the 42 cent loss expected by Wall Street analysts, according to Refinitiv. The company also saw revenue come in above analyst forecasts.
BJ's Wholesale — Shares of the retailer popped more than 7% after JPMorgan upgraded the stock to outperform from neutral. The firm said in a note that BJ's membership program appeared to be undervalued by the market.
– CNBC's Jesse Pound, Maggie Fitzgerald, Pippa Stevens and Yun Li contributed reporting.
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