Signage on a Saleforce office building in San Francisco, California, the United States, on Tuesday, February 23, 2021.
David Paul Morris | Bloomberg | Getty Images
Here are the stocks that hit the headlines in midday trading.
Salesforce – Salesforce stock rose 4.7% after the enterprise software maker released results and projections for the second quarter that exceeded analysts’ expectations. Revenue for the quarter rose 23% year over year, the same growth as the previous quarter.
Dollar Tree – The discounter’s stocks fell over 10% after reporting a mixed quarter. Dollar Tree posted earnings of $ 1.23 per share, beating analyst estimates of $ 1.00. It reported sales of $ 6.34 billion, which fell short of estimates of $ 6.45 billion.
Dollar General – Dollar General’s shares fell roughly 4%, despite the discounter beating estimates in both sales and bottom line. Dollar General reported earnings of $ 2.69 per share on sales of $ 8.65 billion. According to Refinitiv, analysts expected earnings of US $ 2.59 per share on sales of US $ 8.61 billion. However, Dollar General issued a lower-than-expected earnings forecast for the full year.
Autodesk – Software stock slipped more than 8% after its earnings report for the second quarter. Autodesk beat earnings per share estimates, but revenue was in line with expectations and its third quarter outlook showed little increases in either metric.
Williams-Sonoma – The retailer’s shares rose 10% after reporting better-than-expected earnings and sales. Williams-Sonoma made $ 3.24 per share, according to Refinitiv, beating estimates of $ 2.61 per share. The company had revenue of $ 1.95 billion for the last quarter, more than a forecast of $ 1.81 billion.
Abercrombie & Fitch – Abercrombie & Fitch shares fell 12% after the clothing retailer missed quarterly sales expectations. The company reported sales of $ 865 million, while analysts were expecting $ 879 million, according to Refinitiv. Abercrombie & Fitch beat earnings expectations by 93 cents per share with earnings of $ 1.70 per share.
Zoom Video – The video conferencing company’s stocks rose 1.8% after Morgan Stanley upgraded the stock from equilibrium to overweight. The company said in a statement to customers that the market was too concerned about Zoom’s growth prospects when workers return to the office.
Coty – The cosmetics company’s shares rose more than 16% after Coty reported better-than-expected sales in the fourth quarter of fiscal. The company also expects positive sales growth for the coming year.
JM Smucker – Food stocks fell more than 3%, despite JM Smucker beating estimates of first-quarter sales and earnings. The company reported adjusted earnings per share of $ 1.90 on sales of $ 1.86 billion. Analysts polled by Refinitiv expected $ 1.86 per share on sales of $ 1.8 billion.
Pure Storage – IT stocks rose over 14% after Pure Storage reported fiscal second quarter revenue and full-year results. Revenue rose 23% year over year and subscription revenue rose 31%.
– CNBC’s Hannah Miao, Maggie Fitzgerald and Tanaya Macheel contributed to this report.
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