AMC Entertainment – Shares of AMC Entertainment are in the middle of a roller coaster session on Friday as they are down 5% after rising 38%. As of noon, more than 360 million shares have already been traded, more than tripling its 30-day average. Stocks have already risen 120% this week amid heightened speculative activity, taking its monstrous 2021 rally to 1,200%.
HP – Shares of the hardware technology company fell more than 8% despite HP beating expectations on both top and bottom results for the first quarter. Management warned during an investor call that problems in the semiconductor supply chain could limit the company’s ability to meet demand for some products at least until the end of the year. ‘year.
Big Lots (BIG) – Shares of the discount retailer fell 6.78% despite a better-than-expected quarter. Big Lots gained $ 2.62 per share, beating analysts’ estimates of $ 1.69 per share. Revenue of $ 1.63 billion also exceeded estimates. Comparable store sales increased 11.3%,
Salesforce – Shares of the cloud computing company jumped more than 6% at midday after beating both upper and lower quarterly earnings results. Salesforce earned $ 1.21 per share on revenue of $ 5.96 billion. Analysts had expected earnings of 88 cents a share on revenue of $ 5.89, according to Refinitiv. Salesforce also raised its outlook for the full year.
Ulta Beauty – Shares of the beauty store chain were up 5.6% at noon after hitting a new 52-week high of $ 351.72 on Friday morning. Ulta released explosive first-quarter financial results after Thursday’s bell, reporting earnings of $ 4.07 per share, more than double analysts’ estimate of $ 1.95 per share, according to Refinitiv. The company’s quarterly revenue also exceeded Street expectations and Ulta raised its guidance for the full year.
Gap – Gap shares fell more than 5% at noon, despite better than expected first quarter results. The company said it faces supply chain obstacles and difficulties sourcing raw materials due to the proliferation of Covid cases in countries like India. Gap reported earnings of 48 cents per share on $ 3.99 billion in revenue, compared to analysts’ expectations of 5 cents loss per share on $ 3.45 billion in revenue, according to Refinitiv.
Best Buy – Shares of the electronics company fell 2.58% midday despite a strong housing market boosting spending on home theaters, appliances and IT. Analysts warn that as the United States continues with its reopening plan, consumers could spend more on dining out, which could reduce spending on technology.
Hibbett Sports – Shares of the shoe company fell 4% despite the company’s stronger-than-expected quarterly results. Hibbett reported earnings of $ 5.00 per share, beating estimates of $ 2.77 per share, according to Refinitiv. The revenue was $ 507 million, higher than Wall Street’s estimate of $ 413.
– CNBC’s Hannah Miao, Maggie Fitzgerald, Jesse Pound and Yun Li contributed reporting
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