Home Blockchain FL, GM, PSX experience the most significant midday stock movements

FL, GM, PSX experience the most significant midday stock movements

by Joseph Mack

**Stocks Making Headlines**

*Online Pet Care Marketplace Shares Surge Following Acquisition Deal*

Rover Group, the online marketplace for pet care, saw its shares surge by 28% in midday trading after announcing an acquisition deal with Blackstone worth $2.3 billion. The transaction is expected to close in the first quarter of 2024.

**Energy Storage Stock Surges 23%**

Fluence Energy experienced a 23% surge in its stock after reporting fiscal fourth-quarter results that surpassed forecasts. The company reported earnings of 2 cents per share, exceeding the FactSet consensus estimate of a loss of 7 cents per share. Revenue also exceeded expectations, coming in at $521.8 million against the forecasted $510.9 million.

**Footwear Retailer Gains 17%**

Foot Locker, the footwear retailer, saw its shares jump by 17% following a strong performance in its third-quarter earnings report. The company reported adjusted earnings of 30 cents per share on revenue of $1.99 billion, surpassing analysts’ expectations.

**Data Infrastructure Company Surges 15%**

NetApp shares surged by 15% after the data infrastructure company topped expectations for its fiscal second quarter. The company also issued third-quarter earnings guidance and a full-year forecast that exceeded what the Street had anticipated.

**Enterprise Cloud Stock Rises 12%**

Workday, the enterprise cloud stock, experienced a 12% increase in its shares after reporting third-quarter results that exceeded expectations. The company reported adjusted earnings of $1.53 per share on $1.87 billion of revenue, surpassing analysts’ forecasts.

**Cybersecurity Stock Jumps 9%**

CrowdStrike, the cybersecurity stock, saw its shares jump by more than 9% following a strong third-quarter report and an increase in its fourth-quarter guidance.

**Automaker Pops 9.6% After Announcing Stock Buyback Plan**

General Motors experienced a 9.6% increase in its shares after announcing a $10 billion stock buyback plan and a 33% quarterly dividend increase. The automaker also reinstated its guidance following the end of the United Auto Workers strike.

**Uniform and Workplace Supplies Gain 6%**

Vestis, the uniform and workplace supplies company, saw its shares gain 6% after reporting fiscal fourth-quarter revenue that topped estimates.

**Hedge Fund Investment Sends Phillips 66 Up by 3.6%**

Phillips 66 gained 3.6% after Elliott Investment Management announced that it had taken a $1 billion stake in the company. The hedge fund also plans to seek as many as two board seats, according to sources.

**Manufacturing Services Company Jabil Drops 13%**

Jabil, the manufacturing services company, experienced a 13% drop in its shares after lowering its first-quarter revenue guidance compared to previous estimates.

**Pet Retailer Plunges 28% After Disappointing Third-Quarter Results**

Petco Health & Wellness saw its shares plunge by 28% after reporting disappointing third-quarter results, including a wider-than-expected quarterly loss.

**Hormel Foods Falls Nearly 5% After Missing Estimates**

Shares of Hormel Foods fell nearly 5% after the company posted its fiscal fourth-quarter results, missing Wall Street’s estimates for both earnings and revenue.

**Discount Retailer Dollar Tree Jumps by 3%**

Dollar Tree, the discount retailer, experienced a 3% jump in its shares after posting third-quarter results that exceeded analysts’ earnings expectations.

In conclusion, the midday trading session saw several companies making headlines with significant movements in their stock prices following the release of quarterly results and other major announcements.

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