Traders work on the floor of the New York Stock Exchange (NYSE) under GameStop signage in New York City, August 8, 2022.
andrew kelly | Reuters
Check out the companies making headlines Thursday at noon.
GameStop – Shares of the video game retailer and meme stocks jumped more than 8% even after the company reported a bigger-than-expected third-quarter loss. CEO Matthew Furlong told investors the company was “trying to accomplish something unprecedented in retail … seeking to transform a legacy business once on the brink of bankruptcy,” during a call Wednesday.
Dexcom – The maker of blood glucose monitoring systems for diabetes management saw its shares rise 4.6% after announcing that the US Food and Drug Administration had cleared its G7 device for people with all types of diabetes aged two and over. Dexcom expects the devices to launch in the US early next year.
Cano Health – Shares in the primary care provider for the elderly fell 19.8% after Bloomberg reported that Daniel Loeb’s Third Point had sold its remaining stake due to liquidity concerns. The hedge fund held a 3.5% position in October.
Ciena – Shares of Ciena jumped 19.8% after the networking equipment maker reported better-than-expected fiscal fourth-quarter results. The company also said it expects “outsized” revenue growth in fiscal 2023.
DigitalOcean Holdings – Shares rose 6.1% after Needham launched the stock as a buy and said it expects its consumption-based model and initiatives to “land bigger customers and better exploit market opportunities”. He also said the cloud infrastructure company’s managed service offerings can help its medium-term revenue growth.
Express – The clothing retailer rose more than 38% after announcing a strategic partnership with brand management firm WHP Global. CEO Tim Baxter said the partnership will “lead to greater scale and increased profitability” and strengthen its balance sheet
HPV – Tommy Hilfiger’s parent company added 2.7% after UBS named the company a top pick. UBS said it was one of the most likely to beat earnings expectations next year on a list of around 40 stocks, while saying it was confident in its transformation plan. company.
C3.ai – Shares gained more than 7% after C3.ai beat estimates in its latest earnings report. The enterprise artificial intelligence software company reported a loss of 11 cents per share on revenue of $62.4 million. Analysts polled by Refinitiv had expected a loss of 16 cents per share on revenue of $60.9 million.
Lincoln National – Shares fell 10.1% following a comment that Lincoln National would suspend buybacks in 2023 during a presentation at the Goldman Sachs Financial Services Conference, according to FactSet’s StreetAccount.
– CNBC’s Sarah Min, Carmen Reinicke, Yun Li, Alex Harring and Michelle Fox contributed reporting
