Several companies made headlines during midday trading. Dollar Tree saw its shares plummet by 20% after cutting its full-year outlook for net sales and adjusted earnings per share, citing pressures on middle- and higher-income customers. On the other hand, GitLab’s stock soared by 17% after the software developer forecasted strong third-quarter earnings, with earnings per share expected to be above analyst estimates. Zscaler, a cloud security company, saw its stock drop by 18% after its fiscal first-quarter earnings outlook fell short of expectations. AST SpaceMobile, on the other hand, saw its shares spike by more than 19% after announcing plans to launch its first five commercial satellites, BlueBird, which will provide cellular broadband service worldwide. Asana’s shares plunged 8% due to weaker-than-expected third-quarter and full-year forecasts, while Dick’s Sporting Goods fell over 6% on tepid full-year guidance. Hormel Foods also saw a decline of over 7% after reporting weaker-than-expected fiscal third-quarter revenue and lowering its full-year forecast.
On the positive side, Sweetgreen’s shares gained 4% following an upgrade to buy from hold at TD Cowen, with analyst Andrew Charles pointing to Sweetgreen’s introduction of Infinite Kitchens, or automatic robotic kitchens. ASML saw its shares fall nearly 4% after a UBS downgrade to neutral from buy, as the firm anticipates a drop in earnings growth starting in 2026. AMD, a chip stock, advanced 3% after recovering from losses seen in the previous session due to a steep semiconductor sell-off.
Overall, the market saw a mix of positive and negative movements among various companies in midday trading. While some companies experienced significant declines due to weaker-than-expected financial outlooks, others saw substantial gains driven by strong earnings forecasts and new product launches. Investors will continue to monitor these companies closely as they navigate the ever-changing market conditions and economic landscape.
In summary, Dollar Tree, GitLab, Zscaler, AST SpaceMobile, Asana, Dick’s Sporting Goods, Hormel Foods, Sweetgreen, ASML, and AMD were among the companies making headlines during midday trading. Dollar Tree’s shares plummeted after cutting its full-year outlook, while GitLab’s stock soared on strong earnings forecasts. Zscaler’s stock dropped on a weaker-than-expected earnings outlook, while AST SpaceMobile saw a spike in shares following plans to launch commercial satellites. Asana, Dick’s Sporting Goods, and Hormel Foods experienced declines due to weaker financial performances, while Sweetgreen’s shares gained on an upgrade. ASML and AMD saw mixed movements following a brokerage downgrade and recovery from previous losses, respectively. Investors will be closely monitoring these companies as they navigate market volatility and economic uncertainties.
