Stocks making the biggest moves midday: Williams-Sonoma, Dollar General, Lordstown Motors & more
Check out the companies making headlines in midday trading.
Williams-Sonoma – Shares of the retailer jumped more than 20% after the company beat top and bottom line estimates during the fourth quarter. Williams-Sonoma earned $3.95 per share excluding items during the period, compared to the consensus estimate of $3.39, according to Refinitiv. Revenue came in at $2.29 billion, ahead of the expected $2.18 billion. The company’s results were boosted by consumers spending more time at home during the pandemic.
Dollar General – The discount retailer shares fell more than 6% after the company reported an earnings miss. Dollar General posted quarterly earnings of $2.62 per share, missed Refinitiv estimates by 10 cents. However, the company’s revenue came in above expectations as comparable store sales rose more than expected.
Lordstown Motors — Shares of the nascent electric vehicle company slid nearly 10% after the company reported a loss of 23 cents per share for the fourth quarter. The company also said it had been contacted by the Securities and Exchange Commission regarding a report from short seller Hindenburg Research and its CEO clarified that its pre-orders for vehicles were non-binding.
Signet Jewelers – The jewelers’ stock jumped 7.3% following a solid quarterly earnings report. Signet earned an adjusted $4.15 per share, compared to a consensus estimate of $3.54, according to Refinitiv. The jeweler also posted strong comparable store sales.
Upstart Holdings – Shares of the consumer-lending company soared 76% after Upstart said it has agreed to acquire Prodigy Software, a provider of cloud-based automotive retail software. Upstart also reported better-than-expected earnings and revenue for the fourth quarter.
Lyft – Lyft shares ticked up 2% after the company said that it recorded the most riders in a single week since the pandemic began. The company also logged positive year-over-year growth in daily ridership for the first time in a year.
Five Below – The discount retailer’s shares slid about 2% despite beating Wall Street estimates in earnings and revenue in the fourth quarter. The company also recorded a 14% spike in comparable-store sales.
AMC Entertainment — The movie theater stock jumped 4.7% after the company announced that 98% of its U.S. theaters will be open beginning Friday. By March 26, 99% of its locations will be reopened.
Palo Alto Networks — The tech stock dipped 3.8% after Palo Alto Networks announced that its chief financial officer was leaving and being replaced internally, effective immediately. The departing CFO, Luis Visoso, is joining Unity in the same role.
— CNBC’s Jesse Pound, Rich Mendez and Pippa Stevens contributed reporting.
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