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Stocks making the biggest moves midday: Broadcom, Signet, Dave & Buster's and more
Stocks making the biggest moves midday: Broadcom, Signet, Dave & Buster's and more
CNBC
Check out the companies making headlines in midday trading. Broadcom – Shares of the chipmaker surged around 12% after the company beat earnings and revenue estimates for the fiscal second quarter and announced a 10-for-1 stock split. Adjusted earnings per share came in at $10.96 and revenue was $12.49 billion. Analysts polled by LSEG expected earnings of $10.84 per share and revenue of $12.03 billion. Data storage and artificial intelligence plays Super Micro Computer , Arista Networks and Nvidia also rose, adding 10%, 4% and 2%, respectively. Signet Jewelers – Shares plummeted more than 13% on the heels of the company reporting mixed earnings results for the first quarter. Signet posted adjusted earnings of $1.11 per share and revenue of $1.51 billion. Analysts polled by FactSet had expected earnings of 85 cents per share and revenue of nearly $1.52 billion. Company management also noted in an earnings call with analysts that there continues to be pressure on the consumer and that discount activity has been heightened among many jewelry participants. Dave & Buster’s – The stock fell almost 10% after the entertainment and restaurant chain’s sales for the first quarter missed expectations. The company reported revenue of $588 million, which is below the $621 million analysts had expected, per LSEG. Virgin Galactic – Shares plunged nearly 13% after the space tourism company’s board of directors approved a 1-for-20 reverse stock split, which is set to take effect after market close on June 14. The stock is currently trading under $1. Oxford Industries – The stock fell 1% after the clothing maker posted first-quarter earnings that missed estimates. The company, which owns Tommy Bahama, posted adjusted earnings of $2.66 per share and revenue of $398.2 million. Analysts had expected earnings of $2.68 per share and revenue of $404.8 million, according to FactSet. Both second-quarter and full-year forecasts were also softer than expected. Kimberly-Clark – Shares of the Huggies and Kleenex maker advanced around 3% after Bank of America gave the stock a double upgrade to buy and raised its price target. The consumer packaged goods company is facing structural changes ahead, according to Bank of America. Ford Motor – Shares dipped 1% after the automaker ended an expensive electric vehicle dealership program that required U.S. dealers to invest upward of $1 million to sell the automobiles. Tesla – The
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