Check out the companies making headlines in midday trading: SolarEdge Technologies — Shares of the company tumbled more than 20% following the announcement that it will offer $300 million worth of convertible notes due 2029. The company also revealed in a U.S. Securities and Exchange Commission filing on Monday that a customer won’t be able to pay about $11.4 million that it owes after filing for bankruptcy. Pool Corp . — The stock plunged more than 7% after the company updated its earnings guidance for the full year on Monday after the bell. The wholesale pool supplies distributor expects full-year earnings between $11.04 and $11.44 per share. This is lower than its prior guidance of between $13.19 and $14.19 per share and below FactSet’s consensus estimate of $13.05. Pentair and Leslie’s fell in sympathy following the revision, declining about 6% each. Carnival — Shares added nearly 8% after the cruise company posted a second-quarter earnings and revenue beat. Carnival reported profit of 11 cents per share, excluding items, on revenue of $5.78 billion, while analysts surveyed by LSEG had expected a loss of 2 cents per share on revenue of $5.68 billion. Carnival also offered strong third-quarter and full-year outlooks. Sea Limited — U.S. shares of the Singapore-based consumer internet stock retreated 3.2% on the heels of a JPMorgan downgrade to neutral from overweight. The bank said Sea could be hurt by more competition. Penn Entertainment — The casino operator and online gambling platform’s stock fell 5% after Raymond James downgraded it to market perform from outperform. The firm believes its current valuation is “appropriate” and sees upside being capped around $20 a share. The stock has surged more than 14% in one month. Airbus — The stock was down more than 9% in France after the company announced it was slashing its financial targets for 2024. Airbus said Monday that it is expecting lower earnings and fewer commercial aircraft to be delivered this year. Nvidia — Shares of the chipmaker moved 5% higher after falling more than 6% in the previous session. Its sell-off on Monday marked its biggest one-day slide since April 19. Enovix — Shares of the advanced silicon battery company surged more than 38% after it agreed to deliver silicon batteries and packs for a mixed reality headset. Enovix will receive a one-time payment
CNBC
The full article is available here. This article was published at CNBC Finance.
Comments are closed for this article!