Norwegian Cruise Line, Micron Technology, Signet Jewelers, Novavax and more

Check out which companies are making the headlines in midday trading.

Norwegian Cruise Line – Shares plunged nearly 12% on Tuesday after the company reported second-quarter results that missed Wall Street expectations and showed occupancy rates of just 65%, compared to more than 100% in the same quarter of 2019. In addition, the cruise line said It won’t return to pre-pandemic occupancy levels until next year, indicating continued losses.

micron technology – Shares of the chip maker lost 5% after the company reported a drop in demand for DRAM and NAND chips and said it expected a challenging market environment in the fourth quarter of 2022 and the first fiscal quarter of 2023. Several other chip stocks fell with Micron . Applied materialsAnd the on semiconductors And the Tiradine Each fell about 7%.

ring jewelry – A jeweler who saw shares fall by 11.5% after him It lowered its financial forecast for the second quarter and the full-year fiscal 2023, saying it saw lower sales in July as inflation prompted consumers to rein in their spending. The company also announced its acquisition of Blue Nile, but said the deal would not likely be related to commercial activity until the fourth quarter of fiscal year 2024.

Nielsen Shares of the public data analytics company rose more than 21% after the company postponed a court meeting and a special meeting of its shareholders, when a preliminary agreement between the private equity consortium and WindAcre was expected to be finalized. WindAcre currently owns approximately 27% of Nielsen shares.

Ralph Lauren The luxury retailer was down 7% even after the company reported stronger-than-expected quarterly results. The company reported fiscal first-quarter adjusted earnings of $1.88 per share, beating expectations of $1.71 that analysts had been expecting, according to FactSet. Ralph Lauren also beat expectations on its revenue, buoyed by strong demand for higher-priced apparel.

main financial group – Shares of the investment and insurance company saw a 7% rise after it reported strong quarterly results. The company reported non-GAAP operating profit of $1.65 per share. That was up the 1.39 cents a share analysts estimated, according to FactSet.

News Corporation Shares are up 5% after the company’s quarterly earnings of 37 cents per share beat estimates of 9 cents per share, according to Fact Set. Revenue of $2.67 billion came in higher than estimates of $2.58 billion.

Novavax Stocks fell 29% after the biotech company Revenue guidance lowered for the full year Almost half is due to weak demand for coronavirus vaccines. Novavax expects it will generate revenue of $2 billion to $2.3 billion in 2022, compared to the previous guidance of $4 billion to $5 billion.

Allbirds – The shoe maker’s share price fell more than 23% after the company It lowered its financial forecast for this yearindicating a slowdown in consumer spending. It also announced a number of cost-cutting efforts after reporting a wider quarterly loss compared to the previous year.

Occidental Petroleum Occidental stock gained 3.8% after news that Berkshire Hathaway is increasing its stake in the oil giant to more than 20%. Warren Buffett has been increasing his stake in the energy product since March.

– CNBC’s Carmen Renick, Yoon Lee, Sarah Min and Samantha Soobin contributed reporting