Headquarters of Microsoft Corporation in Issy-les-Moulineaux, near Paris, France, on April 18, 2016.
Charles Platiau | Reuters
Check out the companies making headlines Thursday at noon.
Microsoft – Shares of the tech giant fell 0.6% after Microsoft cut its earnings and revenue forecast for the fiscal fourth quarter. Microsoft cited unfavorable exchange rates as the reason for the decision.
Meta Platforms – Facebook’s parent company rose 4.8% after Sheryl Sandberg announced she was leaving her post as chief operating officer. Chief Growth Officer Javier Olivan will take over this fall.
GameStop – Shares of the video game retailer rose 9.4% after the company reported quarterly results. GameStop reported revenue of $1.38 billion in its first fiscal quarter, up slightly from the $1.27 billion reported in the year-ago quarter. But, it also reported a net loss of $157.9 million, which is worse than the net loss of $66 million in the year-ago quarter.
Chewy – The pet e-commerce company soared 23.3% after posting an unexpected profit in the prior quarter. Chewy shared earnings of 4 cents per share on $2.43 billion in revenue. Analysts had expected a loss of 14 cents per share on $2.42 billion in revenue, according to Refinitiv.
MongoDB — Shares of the database platform provider jumped 17.8% after the company’s results for the previous quarter beat analysts’ expectations. MongoDB reported windfall earnings of 20 cents per share on $285 million in revenue. Analysts had expected a loss of 9 cents a share on revenue of $267 million.
Generac – The generator company’s stock jumped more than 9.7% after UBS named it a top pick. The investment firm said the decline in Generac’s core business was already priced into the market and the company’s push into clean energy has given the stock a significant upside.
Hewlett Packard Enterprise – Hewlett Packard Enterprise fell 5.5% after missing analysts’ forecasts for revenue and earnings in the previous quarter. The company reported earnings of 44 cents per share on revenue of $6.71 billion, versus Refinitiv’s consensus estimate of 45 cents per share on $6.78 billion in revenue.
PVH – The clothing company added 2.5% after beating Wall Street forecasts for the prior quarter’s results. The owner of Tommy Hilfiger and Calvin Klein reported earnings of $1.94 per share on $2.12 billion in revenue, against estimates of 1.61 cents per share on $20.9 billion in revenue.
Hormel Foods – Shares of Hormel Foods fell 5.2% after the company cut its profit forecast for fiscal 2022. The food company expects earnings per share to be between 1. $87 and $1.97 after previously forecasting earnings between $1.87 per share and $2.03 per share.
– CNBC’s Jesse Pound and Yun Li contributed reporting