A Lululemon sign hangs in front of their store at the Woodbury Commons Premium Outlets shopping mall on November 17, 2019 in Central Valley, New York.
Check out the companies making headlines in midday trading Thursday.
Macy's — Shares jumped 19.3% after the department store chain reported better-than-expected quarterly results and raised its profit guidance. Macy's got a boost from shoppers who are snapping up apparel and other goods regardless of rising prices.
Twitter — Twitter shares jumped 6.4% after Elon Musk increased his commitment in his takeover bid to $33.5 billion. Analysts have said the move indicates a new seriousness by the Tesla CEO and increased probability that he'll complete the deal, which has been mired in controversy since Musk proposed it in May.
Lululemon — Shares of the athleisure company jumped 10.3% after Morgan Stanley upgraded Lululemon to overweight and said its well-positioned to perform well, even as a recession looms.
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Nvidia — The chipmaker's stock gained 5.2% after falling earlier in the session. It came as Nvidia issued weaker-than-expected guidance for the current quarter and said it plans to slow hiring.
Broadcom — Broadcom's stock gained 3.6% after the semiconductor company shared its plan to buy VMware in a $61 billion cash and stock deal. The acquisition would mark one of the largest technology deals in history.
Dollar Tree — The discount retailer soared 21.9% after posting quarterly earnings and revenue that beat analyst expectations. Dollar Tree reported earnings per share of $2.37 on revenues of $6.9 billion. Analysts anticipated earnings of $2.00 a share on $6.76 billion in revenue, according to Refinitiv.
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Kraft Heinz — The food and beverage company fell 6.1% after UBS downgraded the stock of fears of rising inflation and competition from private labels.
Alibaba — Alibaba shares surged 14.8% following the release of better-than-expected results for the previous quarter. The Chinese e-commerce giant reported fiscal fourth-quarter earnings of CNY7.95 per share, excluding items, on revenues of CNY204.05 billion. Analysts had anticipated earnings of CNY7.31 a share on CNY199.25 billion in revenue, according to StreetAccount.
Dollar General – The discount retailer's shares rallied 13.7% on the back of stronger-than-forecast quarterly figures. Dollar General posted first-quarter earnings of $2.41 per share on revenue of $8.75 billion. Analysts had expected a profit of $2.31 per share on revenue of $8.7 billion, according to the Refinitiv consensus.
Williams-Sonoma — The home furnishing retailer bounced 13.1% following a beat on revenue and earnings for the previous quarter. Williams-Sonoma also reiterated its guidance for the year.
Nutanix — The cloud company tumbled 23% after issuing weak guidance. Nutanix also said it's facing supply chain issues that have hit hardware partners.
Medtronic - Shares of the medical device fell 5.8% after a weaker-than-expected report for the fiscal fourth quarter. Medtronic reported $1.52 in adjusted earnings per share on $8.09 billion of revenue. Analysts surveyed by Refinitiv were expecting $1.56 per share and $8.43 billion in revenue. Medtronic said supply chain issues weighed on results for the quarter.
— CNBC's Tanaya Macheel, Hannah Miao, Sarah Min and Jesse Pound contributed reporting
