Canada Goose, Bumble, Sonos & more
Canada Goose Parkas hang on display in a shop in Richmond Hill, Ontario.
Chris So | Toronto Star | Getty Images
Check out the companies that are making headlines in mid-day trading.
Canada Goose – The retailer’s shares fell 6% despite beating analysts’ earnings expectations. Canada Goose posted earnings of 1 cent per share, according to Refinitiv, compared to Wall Street’s forecast loss of 12 cents. The company had sales of $ 209 million, up over the expected $ 161 million.
UTZ Brands – The food company’s stocks fell more than 6% after missing the high and low end of quarterly results. The pretzel maker made 13 cents a share on sales of $ 269 million. According to Refinitiv, analysts expect a profit of 14 cents per share on sales of 275 million US dollars.
Bumble – The dating app company’s shares fell more than 10% despite higher-than-expected sales for the first quarter. Bumble posted revenue of $ 170.7 million in the first quarter, while analysts were expecting $ 164.6 million. The company raised its future revenue forecast, but some Wall Street analysts said the increase seemed conservative.
Boeing – The Dow component stocks rose 2% in midday trading after U.S. airlines began repairing 737 Max aircraft last month due to a power problem. The Federal Aviation Administration approved the repairs, which in April saw more than 100 aircraft grounded.
Lowes – Lowes’ stock rose 2.5% before noon in New York after Oppenheimer took the hardware store to an outperform rating. Analyst Brian Nagel told clients that the rotation back into cyclical stocks and their relative cheapness make it a compelling buying opportunity.
Vroom – The company’s shares rose more than 2% after Vroom posted a less-than-expected loss in the first quarter and sales also beat Street’s expectations. The company said total gross profit nearly doubled year over year.
Sonos – Sonos shares rose 7% after posting a surprise profit for the second quarter of the fiscal year. Sonos made an adjusted 12 cents per share, compared to the loss of 22 cents per share surveyed by FactSet. Revenue also beat estimates, and the company raised its outlook for the full year.
Poshmark – The online consignment trader’s shares fell more than 15% even after a better-than-expected quarterly report. Poshmark posted an adjusted loss of 33 cents per share for the first quarter, which was less than the loss of 42 cents that Wall Street analysts had expected, according to Refinitiv. The company also posted sales that exceeded analysts’ projections.
BJ’s Wholesale – The retailer’s shares fell more than 7% after JPMorgan revalued the stock from neutral to outperformance. The company said in a note that BJ’s membership program appeared to be undervalued by the market.
– CNBC’s Jesse Pound, Maggie Fitzgerald, Pippa Stevens and Yun Li contributed to the coverage.
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