Stocks that made the biggest moves in the afternoon: Tupperware, Paramount, etc

An employee of Tupperware Brands Corporation works on the production line at the group’s plant in Joue-les-Tours, central France, on its 40th anniversary. AFP PHOTO / JEAN-FRANCOIS MONIER (Photo credit should read JEAN-FRANCOIS MONIER/AFP/Getty Images)

Jean-Francois Monier | AFP | Getty Images

Check out the companies making headlines in afternoon trading.

Tupperware brands — Tupperware shares fell 42% after missing third-quarter earnings. The maker of household storage products also said it would be unable to meet the terms of its loan agreement, which “casts significant doubt on the Company’s ability to continue as a going concern,” it said.

Rogers — The engineering materials maker saw shares tumble 43% after the company’s planned $5.2 billion sale to DuPont De Nemours was put on hold because the companies failed to get regulatory approval. The deal was first announced on November 1, 2021. Shares of DuPont rose nearly 4%.

Paramount Global — Shares of the media company fell more than 11% after Paramount’s quarterly results missed expectations due to cord-cutting and lower advertising revenue. Paramount said TV media segment revenue fell 5% to about $4.9 billion from the prior quarter as the number of pay TV subscribers declined.

Estee Lauder — The cosmetics maker fell 8% after giving a weak forecast despite beating expectations for the quarter. The company said it was hurt by higher costs, China’s Covid lockdowns and fluctuating currency.

Trimble — Shares fell 7% after Trimble missed revenue expectations in its third-quarter results. The industrial technology firm reported sales of $884.9 million, compared with estimates of $911.4 million, according to FactSet consensus estimates. Trimble reported earnings per share in line with expectations.

CH Robinson — The stock fell 6% after the transportation and logistics company reported disappointing earnings in its latest results. CEO Bob Biesterfeld said fears of “slowing freight demand and lower prices in the trucking and ground transportation markets” were evident in the third quarter.

Airbnb The housing stock fell 10.1% after the company reported earnings per share that beat expectations, while revenue missed estimates. However, StreetAccount data showed that the top end of the company’s fourth-quarter revenue guidance came in below some analysts’ estimates.

Chegg — The education stock rose more than 22.2% after Chegg beat estimates on the top and bottom lines for the third quarter. The company reported adjusted earnings of 21 cents per share on revenue of $164.7 million. Analysts polled by Refinitiv had expected 14 cents per share on revenue of $158.3 million. Adjusted gross margin and subscribers increased year over year.

Clorox — Shares of Clorox fell 5.3% after the company reported quarterly earnings results that beat Wall Street estimates but only affirmed full-year guidance with three full quarters to go. The company reported adjusted earnings per share of 93 cents in the fiscal first quarter, versus expectations of 75 cents. It also posted revenue of $1.74 billion, compared to analysts’ expectations of $1.69 billion.

Match group — Shares of the dating app operator rose 8.4% after the company posted better-than-expected third-quarter revenue, according to StreetAccount. Current quarter guidance for adjusted operating income also came in above StreetAccount’s estimates.

Broadridge Finance — Shares fell 6% after the financial technology company missed profit and sales expectations in the latest quarter. Broadridge Financial Solutions reported earnings of 84 cents per share on revenue of $1.28 billion. Analysts had expected earnings of 88 cents per share on revenue of $1.26 billion, according to FactSet consensus estimates.

CVS Health — Shares rose 3.8% after the company beat expectations on revenue and profit for the latest quarter and raised its adjusted full-year guidance.

Boeing — The industrial giant saw its shares rise more than 2.4% after Chief Financial Officer Brian West told investors he expects to generate $3 billion to $5 billion in free cash flow next year on the back of an increase in 737 Max and 787 deliveries. reactants.

Electronic Arts — Shares of Electronic Arts rose 3.2% after the video game publisher reported lower-than-expected orders for its fiscal second quarter. Despite a stronger dollar weighing on the company’s orders, net income was flat year over year. EA also said that its newest FIFA game is outselling the 2022 version within its first four weeks.

Caesars Entertainment — Caesars shares gained 2.5% after the company beat analysts’ top and bottom estimates for the latest quarter. The resort operator also reported its digital betting business was profitable on an adjusted basis for the quarter, 12 months ahead of target.

Advanced Micro Devices — The chip maker saw its shares rise 2% despite reporting quarterly results and guidance that missed analysts’ expectations. Results from all four of the company’s business segments were better than the company called for in its October warning, and Morgan Stanley reiterated its overweight rating on the stock on Wednesday.

— CNBC’s Sarah Min, Alexander Harring, Jesse Pound, Yun Li, Michelle Fox and Carmen Reinicke contributed reporting

Source link