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Stocks making the biggest moves midday: Dell, Peloton, Workday and more

Stocks making the biggest moves midday: Dell, Peloton, Workday and more


Stocks making the biggest moves midday: Dell, Peloton, Workday and more

Dell CEO Michael Dell delivers a keynote address during the 2013 Oracle Open World conference on September 25, 2013 in San Francisco, California.Justin Sullivan | Getty ImagesCheck out the companies making headlines in midday trading.Peloton – Shares of the cycle maker tumbled 8.6% after a disappointing quarterly report. The company reported revenue growth in its fiscal fourth quarter that slowed down drastically, while posting a wider-than-expected loss as costs from its treadmill recall mounted. Peloton also offered up an underwhelming revenue outlook for its first quarter.Dell Technologies — Shares of the company ticked 4.5% lower despite its better-than-expected quarterly results. Dell reported adjusted quarterly earnings of $2.24 per share, 21 cents above estimates, with revenue also topping analyst projections.HP — Shares of the tech hardware company slipped 0.6% after the technology company’s quarterly revenue missed expectations. Morgan Stanley also downgraded HP to equal weight from overweight. The firm said in a note to clients that the near-term outlook for HP’s products could hold back the stock.Gap — Gap shares added 0.6% following an earnings beat. The apparel retailer reported quarterly adjusted earnings of 70 cents per share on revenue of $4.21 billion. Analysts expected earnings of 46 cents per share on revenue of $4.13 billion, according to Refinitiv.Workday — Shares of Workday soared 9.1% after the software company beat on the top and bottom lines of its quarterly results. Workday reported earnings of $1.23 per share on revenue of $1.26 billion. Wall Street expected earnings of 78 cents per share on revenue of $1.24 billion, according to Refinitiv.Big Lots — Shares of Big Lots dropped 4.9% after the discount retailer missed Wall Street estimates for its latest quarter. Big Lots reported earnings of $1.09 per share, 3 cents shy of consensus analyst expectations, according to Refinitiv. The company also missed revenue estimates. Big Lots’ comparable store sales slid a greater-than-expected 13.2%.Hibbett  — Hibbett shares sunk 9.2% even after the athletic apparel retailer reported better-than-expected quarterly revenue and earnings. Hibbett earned $2.86 per share, almost double the $1.44 Refinitiv consensus estimate. The company also raised its full-year forecast.Marvell Technology — Shares of Marvell Technology fell 3% despite an earnings beat. The company reported adjusted earnings of 34 cents per share, while analysts projected earnings of 31 cents per share, according to Refinitiv. Marvell Technology’s second-quarter revenue was in line with Wall Street estimates.Ollie’s Bargain Outlet — Ollie’s shares sunk 6.7% following quarterly results that fell short of expectations. Ollie’s reported adjusted quarterly earnings of 52 cents per share on revenue of $416 million. Analysts expected earnings of 55 cents per share on $436 million, according to Refinitiv.VMWare — VMWare shares fell 6.7% even after the software company’s quarterly earnings report beat on top and bottom line estimates. The company reported adjusted quarterly earnings of $1.75 per share, topping the $1.64 consensus estimate, while revenue was slightly above Wall Street forecasts. However, cloud business revenue fell short of some analysts’ forecasts.AutoZone, Advance Auto Parts — Shares of AutoZone and Advance Auto Parts retreated more than 2% each after Morgan Stanley downgraded the stocks to equal weight. A “mid-cycle” period should lead to less upside for retail stocks, the firm said.— CNBC’s Maggie Fitzgerald, Yun Li and Jesse Pound contributed reportingBecome a smarter investor with CNBC Pro. Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. Sign up to start a free trial today

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