Check out the companies making headlines in midday trading: Ferguson Enterprises — Shares surged 17% after the cooling solutions company reported third-quarter adjusted earnings of $2.50 per share, exceeding the $2.01 analysts had predicted, according to FactSet. Ferguson’s $7.62 billion in revenue was also above the $7.42 billion estimate. The company also slightly raised its full-year revenue growth guidance. Sitio Royalties — The mineral and royalty company soared 15% after agreeing to be acquired by Viper Energy , a subsidiary of Diamondback Energy. The deal, worth around $4.1 billion, is expected to close in the third quarter. Shares of Viper popped 4%, while Diamondback Energy added 3%. EchoStar — The telecommunications stock slipped 11% after EchoStar disclosed in a regulatory filing that it would not make around $183 million in cash interest payments on a series of notes from its company Dish DBS. EchoStar said this nonpayment was made in light of recent uncertainty raised by the Federal Communications Commission. FactSet Research Systems — Shares slipped 5% after the financial data provider announced that its board had appointed Sanoke Viswanathan as CEO. He will succeed Phil Snow in the role in early September. Signet Jewelers — Shares surged 12% after the world’s largest diamond retailer reported an earnings and revenue beat. Signet’s first-quarter adjusted earnings came in at $1.18 per share on revenue of $1.54 billion, beating the FactSet consensus estimates of $1.00 in earnings per share and $1.52 billion in revenue. Dollar General — Shares of the discount retailer jumped 16% after the company raised its full-year outlook and said its updated guidance assumes that current tariff rates will remain through mid-August. Dollar General also reported strong first-quarter earnings. The company posted earnings of $1.78 per share on revenue of $10.44 billion, while analysts polled by LSEG called for $1.48 in earnings per share and $10.31 billion in revenue. Hims & Hers Health — Shares shed 4%. On Tuesday, the telehealth platform announced its acquisition of European counterpart Zava . The deal will boost Hims & Hers Health’s active customer base by about 50%. Constellation Energy — The energy giant ended marginally lower on news that Meta Platforms entered a 20-year agreement to buy nuclear power from Constellation. Meta will purchase around 1.1 gigawatts of power from Constellation’s Clinton Clean Energy in Illinois beginning in 2027. Bumble — The dating app’s stock lost 6% on the back of JPMorgan’s downgrade to underweight from neutral. JPMorgan said Bumble is losing market share to Hinge, a competitor. Pinterest — Shares added 4% after JPMorgan upgraded the social media platform to overweight from neutral . The bank said Pinterest has made progress on improving its monetization and adding new users. Credo Technology — Shares soared 15% after the high-speed connectivity product developer reported it had seen stronger-than-expected demand from hyperscalers. Credo also guided for fiscal first-quarter revenue of between $185 million and $195 million, exceeding the $162.4 million analysts polled by FactSet had expected. Block — The fintech stock added 3% following an upgrade to outperform from in line by Evercore ISI. The firm wrote that it had turned more positive after speaking to Block’s management about funding avenues across its lending portfolio. Parsons — Shares rallied 7% despite the defense technology company slashing its fiscal 2025 revenue outlook. As a reason, Parsons cited reorganization within the State Department that has contributed to increased uncertainty around a confidential contract. — CNBC’s Michelle Fox, Alex Harring and Pia Singh contributed reporting.
Add A Comment