Here’s a summary of companies significantly influencing the market this afternoon: Petco Health — The stock dropped 22% after reporting a fiscal first-quarter loss of 4 cents per share, which was double the anticipated loss of 2 cents, based on FactSet research. Its revenue of $1.49 billion was below analysts’ expectations of $1.50 billion, and same-store sales fell 1.3%, more than the predicted 0.6% decline. Tesla — The electric car manufacturer saw a rise of over 6% after experiencing a 14% drop the day before, amid a public disagreement between CEO Elon Musk and former President Donald Trump. Omada Health — This digital health firm made its initial public offering (IPO) on the Nasdaq Exchange, pricing its shares at $19, which opened at $23 and quickly increased to approximately $25, marking a rise of over 30%. Broadcom — Shares for the semiconductor company fell 2.7% due to disappointing free cash flow results for the second quarter, reporting $6.41 billion instead of the expected $6.98 billion. Despite this, some analysts boosted their price targets for the stock. ABM Industries — The facilities management company saw an 11% drop in shares after reporting mixed second-quarter results. Its adjusted earnings of 86 cents per share met expectations, but revenue of $2.11 billion exceeded the FactSet consensus of $2.06 billion. ABM reiterated its earnings guidance for the year. Circle Internet Group — This stablecoin firm jumped 38% following its debut on the New York Stock Exchange, with a remarkable 168% rise on its first trading day. Lululemon — The athleisure brand fell 20% after providing a second-quarter forecast that disappointed analysts. Chief Financial Officer Meghan Frank mentioned plans to implement “strategic price increases, reviewing item by item across our product range” to counteract rising tariffs. G-III Apparel Group — The clothing company plunged 15% due to less favorable earnings guidance for the second quarter, projecting earnings per share between 2 to 12 cents, while analysts expected around 48 cents, according to FactSet. DocuSign — Shares of the e-signature firm tumbled 19% after lowering its full-year billings forecast, with first-quarter billings also falling short of expectations. Braze — Shares of this customer engagement platform dropped 13% due to disappointing guidance, forecasting second-quarter adjusted earnings between 2 to 3 cents per share, well below the 9 cents anticipated by analysts. Their first-quarter results had exceeded predictions. Quanex Building Products — The company producing windows and doors surged 18%, marking its highest increase since September, after reporting adjusted earnings of 60 cents per share, surpassing the 47 cents predicted by analysts, with revenue of $452 million also beating the $439 million expected. EBITDA also exceeded forecasts. Samsara — Shares fell 5% after the software firm predicted slower revenue growth, forecasting second-quarter revenue between $371 million and $373 million, an increase from $367 million in the first quarter, although representing a slowdown both sequentially and year-over-year. Solaris Energy Infrastructure — The oil and natural gas service provider increased by 10% after Barclays initiated coverage with an overweight rating and a target price of $42, stating, “Solaris leads in distributed power, with nearly 2 GW of capacity expected to be added by 2027, 67% of which is allocated toward long-term contracts with data centers.”
Midday Market Movers: WOOF, TSLA, CRCL, and LULU Take Center Stage!
By Press Room
