An exterior view of the Oracle Field Office on Wilson Boulevard in Arlington, Virginia, October 18, 2019.
Tom Brenner | Reuters
Check out the companies that are making headlines in midday trading.
Oracle – The tech company’s shares slipped more than 3% after Oracle’s revenue fell short of expectations in the first quarter. The company reported sales of $ 9.73 billion, below Refinitiv’s forecast of $ 9.77 billion. Oracle made $ 1.03 per share on an adjusted basis for the period, up over 97 cents the Street expected.
Angi – Home Services marketplace stocks rose more than 7% after releasing its August metrics, which showed its sales for the month were up 21% year over year. Angi owns Angie’s List, HomeAdvisor, and HomeStars, among others.
Casino Stocks: Las Vegas Sands and Wynn Resorts – both of which operate in Macau – slipped as investors resented stricter regulations. The Macau government will launch a 45-day public consultation to review the gambling industry, according to a report by Reuters. Las Vegas Sands stocks were down over 12% while Wynn was down more than 11%.
Fox Corp. The media company’s shares fell 1.8% after it was announced that it had closed a deal to acquire celebrity news platform TMZ from AT & T’s WarnerMedia unit. The companies did not disclose the terms of the deal, but the Wall Street Journal reported that TMZ is valued at less than $ 50 million.
Herbalife Nutrition – The wellness supplement company’s stocks fell 15% after Herbalife cut its guidance for the third quarter due to lower-than-expected sales activity. The company now expects adjusted earnings per share of $ 1.00 to $ 1.20, which is 5 cents lower on both ends than the previous forecast.
Southwest Airlines – The airline stocks fell in midday trading as economic reopenings subsided. Southwest was down 1.5% and Delta Air Lines was down 1.6%. United Airlines lost 2%. In addition, Southwest President Tom Nealon is stepping down from the airline with immediate effect. He left three months after CEO Gary Kelly announced his resignation in January and named long-time Southwest executive Bob Jordan as his successor.
General Electric stocks tied to the economic reopening fell in mid-day trading. General Electric led industrial stocks into the red, down 2.7%.
SeaChange International – SeaChange shares rose 6.5% after reporting a smaller-than-expected quarterly loss. The video management solutions company lost 3 cents a share, less than what analysts had expected to lose 9 cents. Sales also exceeded expectations.
– with reports from Pippa Stevens, Jesse Pound, Tanaya Macheel and Hannah Miao from CNBC.