A sign is posted outside a Broadcom office in San Jose, California on June 3, 2021.
Justin Sullivan | Getty Images
Check out the companies making headlines in midday trading:
Vmware – The cloud services company shed 2.8%, a day after it released a mixed second-quarter report. While VMware beat expectations on earnings per share, it missed revenue.
Lululemon Athletica – The stock rose 6% on Friday after the sportswear retailer reported a surge in earnings after Thursday’s close. Earnings per share for the second fiscal quarter were $2.68, compared to the $2.54 expected by analysts polled by Refinitiv. Sales totaled $2.21 billion, beating estimates of $2.17 billion. Lululemon also raised its full-year guidance.
Broadcom — Chip stock slipped 5.5% after the company released fiscal fourth-quarter revenue guidance that came in slightly below Wall Street estimates amid concerns about competition in the network chip space. However, Broadcom reported better-than-expected earnings and revenue for the most recent quarter.
papa johns – The pizza chain rose 1.9% after Wedbush upgraded its rating from Neutral to Outperform. The company said the shares are too cheap.
PagerDuty – The stock fell 7.7% after PagerDuty issued third-quarter earnings guidance that fell short of analysts’ expectations. The company expects earnings per share of between 13 and 14 cents for the quarter, below the StreetAccount consensus of 15 cents per share. Baird also downgraded PagerDuty to neutral from outperform and said its shares are in the penalty box.
A-Mark precious metals – Shares of the precious metals trading company rose 10.9% during Friday’s trading session after the company released its latest quarterly results and announced a special dividend of $1 per share. Revenue was $3.16 billion, beating expectations of $2.31 billion. However, the company’s earnings per share came in at $1.71, according to StreetAccount, below analysts’ expectations of $1.76.
Dell Technologies – Dell Technologies rose 21.3% on Friday after beating analysts’ expectations for the second quarter. The computer company reported adjusted earnings per share of $1.74 and revenue of $22.93 billion. Analysts polled by Refinitiv expected earnings per share of $1.14 and $20.85 billion. Morgan Stanley also named Dell a top choice in IT hardware.
Walgreen’s Boots Alliance — The drugstore chain fell 7.4% after the company announced that Roz Brewer had resigned as the company’s chief executive officer and had stepped down from the board.
Tesla – Tesla shares fell nearly 5.1% after the electric vehicle maker cut prices for some Model S and Model X vehicles in China.
MongoDB – MongoDB gained just over 3% on Friday after beating Wall Street expectations in the most recent quarter. The database software maker reported adjusted earnings of 93 cents a share on total revenue of $423.8 million in the second quarter. Those results beat expectations of 46 cents of earnings per share and $393 million in revenue, according to a consensus estimate by Refinitiv.
— CNBC’s Yun Li, Alex Harring and Michelle Fox Theobald contributed coverage.