Stocks that make the biggest moves at noon: Williams-Sonoma, Dollar General, Lordstown Motors & more
One Dollar General Store in Creve Coeur, Illinois.
Daniel Acker | Bloomberg | Getty Images
Check out the companies that are making headlines in midday trading.
Williams-Sonoma – The retailer’s shares rose more than 20% after the company beat sales and earnings estimates in the fourth quarter. Williams-Sonoma earned $ 3.95 per share for the period, compared to the consensus estimate of $ 3.39 according to Refinitiv. Revenue was $ 2.29 billion, ahead of an expected $ 2.18 billion. The company’s results were improved by increasing consumer spending time at home during the pandemic.
Dollar General – The discounter’s shares fell more than 6% after the company reported a loss of profits. Dollar General posted earnings of $ 2.62 per share for the quarter and missed refinitive estimates by 10 cents. However, the company’s sales were above expectations as sales in comparable stores rose faster than expected.
Lordstown Motors – Shares in the emerging electric vehicle maker were down nearly 10% after the company posted a loss of 23 cents per share in the fourth quarter. The company also said it had been contacted by the Securities and Exchange Commission about a report from short seller Hindenburg Research, and its CEO clarified that its vehicle pre-orders were non-binding.
Seal jewelers – The jewelry stock rose 7.3% after a solid quarterly report. Signet made $ 4.15 per share on an adjusted basis, compared to a consensus estimate of $ 3.54 according to Refinitiv. The jeweler also had strong comparable store sales.
Upstart Holdings – Shares in the consumer credit company rose 76% after Upstart agreed to acquire Prodigy Software, a provider of cloud-based automotive retail software. Upstart also reported better than expected earnings and sales than expected for the fourth quarter.
Lyft – Lyft shares rose 2% after the company announced it had the most drivers in a week since the pandemic began. For the first time in a year, the company recorded positive year-over-year growth in daily passenger traffic.
Five Down – The discounter’s stocks were down about 2%, despite beating Wall Street estimates for fourth-quarter earnings and sales. The company also saw sales growth of 14% at comparable stores.
AMC Entertainment – Theatrical inventory increased 4.7% after the company announced that 98% of its US theaters will be open from Friday. By March 26th, 99% of the locations will be reopened.
Palo Alto Networks – Technology shares fell 3.8% after Palo Alto Networks announced that its chief financial officer was leaving and being replaced internally, effective immediately. Outgoing CFO, Luis Visoso, will join Unity in the same role.
– CNBC’s Jesse Pound, Rich Mendez and Pippa Stevens contributed to the coverage.
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