Check out the companies making the headlines at midday Tuesday.
Video Zoom – Zoom Sink over 14% after losing revenue estimates from the previous quarter due to the strength of the dollar. The video conferencing company also lowered its full-year forecast amid slowing revenue growth.
Twitter Shares of the social network fell 6%. After the whistleblower filed complaints in the company With the Securities and Exchange Commission, the Federal Trade Commission, and the Department of Justice alleging “fatal and egregious deficiencies on the part of Twitter” in terms of privacy, security and content moderation.
Palo Alto Networks Palo Alto Networks shares jumped 11%. After the company announced earnings, it won on Monday, driven by strong billing, which rose 44% in the quarter. The cybersecurity firm also raised its quarterly and full-year guidance, ramped up its buyback program and announced approval of a 3-for-1 stock split.
Messi – shares The department store is up more than 4% after the retailer announced its second-quarter fiscal earnings and earnings That exceeded analysts’ expectations. Macy’s has also been teasing the launch of its digital marketplace, announced last year, in the coming weeks. However, the company lowered its full-year forecast, saying it expects a deterioration in consumer spending on discretionary items such as apparel that will lead to significant write-offs for taking goods off the shelves.
Dick sporting goods – Stocks soared 2% after sporting goods retail sales topped earnings And revenue estimates in the second quarter results, also raised full-year financial expectations.
Medtronic Medtronic shares fell 3.4% despite outperforming revenue and earnings in the last quarter. The medical device maker said revenue was down from a year ago as it grapples with supply chain constraints.
JD.com Shares of the China e-commerce company rose 3.8% after the company beat analysts’ expectations in the last quarter. JD.com also said its annual active customer accounts rose 9.2%.
XPeng XPeng sank 8.8% after posting a larger-than-expected loss in the previous quarter. The China-based electric car company beat revenue expectations but said deliveries nearly doubled from the same period last year.
GM Smoker — Shares of the food products company rose more than 3% Tuesday after JM Smucker’s adjusted first-quarter earnings beat expectations of $1.67 per share. Analysts polled by Refinitiv had set $1.27 per share. Revenue was $1.87 billion. Earnings win came despite a hit from Jif’s peanut butter recall
Grocery Outlet Holding Discount shares Grocery store chain down 4% after Morgan Stanley downgrades To lose weight of the same weight. The company cited the downside to Grocery Outlet Holding’s 2023 estimate and not the upside to its 2022 estimate. The stock has already risen more than 40% this year.
Bindudu – E-commerce stock jumped 6.2% amid news that it is preparing to launch an international e-commerce platform next month targeting North America.
CNBC’s Carmen Renick, Yoon Lee, Sarah Min, Tanaya Machel, Jesse Pound, and Michelle Fox contributed to the report.
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