Check out the companies making headlines in midday trading. CrowdStrike – Shares of the cybersecurity company rose more than 15% after beating Wall Street's quarterly estimates and issuing strong guidance. CrowdStrike reported adjusted earnings of 95 cents per share on revenue of $845 million. Management also reiterated its plan to reach $10 billion in annual recurring revenue by 2030. JD.com – The Chinese e-commerce platform rose nearly 19% after posting a quarterly revenue increase. The company also launched a $3 billion stock purchase program, set to begin this month, and will continue through March 2027. Nordstrom shares fell 14% after the department store chain issued a muted outlook for 2024. Nordstrom expects full-year revenue. Ranging from a 2% decrease to a 1% increase compared to last year. Thor Industries – Shares fell 11% after the recreational vehicle maker reported quarterly revenue that disappointed expectations. In the second quarter, Thor Industries reported revenue of $2.21 billion, below the FactSet estimate of $2.27 billion. Foot Locker – Shares fell 27.6% after the sneaker retailer reported a fourth-quarter loss and issued weak guidance for the current year. Foot Locker expects full-year adjusted earnings per share to be between $1.50 and $1.70, versus estimates of $1.40 to $2.30 per LSEG. The company also said that the profitability target it set in March 2023 would be delayed by two years. HashiCorp – Shares jumped 10.8% after HashiCorp posted a win in its latest quarterly results. The software company reported fourth-quarter adjusted earnings of 5 cents per share on revenue of $156 million. Analysts surveyed by LSEG had expected earnings per share of 1 cent on revenue of $149 million. BANK STOCKS – Bank stocks fell as a group after a Reuters report, citing industry sources, said US regulators are expected to “significantly trim” the amount of capital banks must have on hand to deal with potential losses. Shares of PNC Financial Services Group fell 3%, while Northern Trust fell 5.4%. Morgan Stanley shares fell 3%, while M&T Bank shares fell 1.3%. Couchbase – Shares rose 3.4% after the cloud database service company posted quarterly results that beat estimates. Couchbase reported a fourth-quarter non-GAAP loss per share of 6 cents, lower than the 14 cents per share loss expected by analysts surveyed by FactSet. Revenues of $50.1 million also beat consensus estimates of $46.6 million. Coinbase Global – Shares added more than 6% as cryptocurrency prices rise. Bitcoin rose 6% on Wednesday, after hitting a new intraday high on Tuesday. Ether jumped to its highest level since January 2022. Shares of ChargePoint Holdings fell more than 9% after the electric vehicle charging station company issued disappointing guidance. ChargePoint expects first-quarter revenue to be between $100 million and $110 million, less than the $126.6 million expected by analysts surveyed by FactSet. ChargePoint, which is down 22% already this year, last traded at less than $2 a share. Box – Shares jumped more than 6% after the cloud content management company beat quarterly earnings expectations. Box reported fourth-quarter earnings of 42 cents per share, beating analysts polled by LSEG's expectations of 38 cents per share. Revenues of $263 million were in line with expectations. Separately, Box said it is integrating a new large language model with Microsoft's Azure OpenAI service. Gitlab – Shares jumped 6.8% after Wolfe upgraded GitLab to outperform its peers, saying he sees “significant upside” for the software company. GitLab's performance is down 0.1% this year, underperforming the broader market. Brown-Forman – Shares fell 9.7% after Brown-Forman, the spirits and wine company behind Jack Daniel's, cut its forecast for annual organic net sales. Guidance for the full year ending April 2024 was revised downward from previous guidance of growth of 3% to 5%, indicating pressure from rising commodity prices. Palantir Technologies – Shares rose 8.9% after the software platform builder received a $178.4 million contract from the US Army to develop ten AI-powered ground stations as part of a project called Titan, or Tactical Intelligence targeting the Access Node. Target — Shares rose 3.8% on Wednesday, adding to gains from Tuesday's session — when the big-box retailer closed up 12% after strong quarterly results. Wall Street firms HSBC and Deutsche Bank upgraded Target to buy after earnings results. Super Micro Computer – Shares jumped 4.2% after Argus initiated coverage of the data center company with a buy rating, saying Super Micro Computer is “poised for several years of strong total revenue growth, margin expansion, and earnings-per-share acceleration.” Tesla – Shares fell 2.7% after Morgan Stanley analyst Adam Jonas, a noted Tesla bull, cut his price target for the electric car maker. He said Tesla could lose money in the coming quarters, citing competition from hybrid cars. Abercrombie & Fitch – Shares fell 1.3% even after the apparel retailer beat expectations on top and bottom lines in its most recent quarterly results. Abercrombie & Fitch reported fourth-quarter earnings of $2.97 per share on revenue of $1.45 billion. Analysts polled by LSEG had expected earnings per share of $2.83 on revenue of $1.43 billion. Oddity Tech – Shares fell more than 7% even after the consumer technology company beat expectations on both the top and bottom lines in its latest results, and issued stronger-than-expected guidance for the first quarter and full year. Oddity Tech reported fourth-quarter adjusted earnings of 17 cents, more than the FactSet estimate of 9 cents for earnings per share. Revenues of $97.2 million beat estimates of $85.9 million. – CNBC's Michelle Fox, Lisa Kailay Han, Ha Kyung Kim, Pia Singh and Samantha Sobin contributed reporting.
