Here’s a look at the companies making headlines in midday trading: Williams-Sonoma — The home furnishings retailer’s shares surged about 29% after beating estimates on both lines in the third quarter and raising full-year guidance. Williams-Sonoma earned $1.96 per share on revenue of $1.8 billion, while analysts surveyed by LSEG had expected earnings of just $1.78 per share on revenue of $1.79 billion. Ford Motor Co. — Shares of Ford Motor Co. fell 3% after the U.S. automaker said Wednesday it plans to lay off about 14% of its European workforce. The company said weak demand for electric vehicles, a lack of government support for the transition to electric vehicles and intensifying industry competition have caused heavy losses in recent years. Nvidia — Shares of Nvidia fell 1% before the chipmaker reported fiscal third-quarter results after the close. Analysts surveyed by London Stock Exchange Group (LSEG) expect Nvidia to earn 75 cents per share on revenue of approximately US$33.16 billion, an increase of more than 80% from the same period last year. AppLovin — Shares rose 4.8%. Piper Sandler has an overweight rating on the mobile app developer. The price target set by the company means the stock still has room for nearly 25% upside, even after the stock has soared more than 700% in 2024. Just three months after raising its revenue forecast, the company revised its revenue forecast and lowered its full-year guidance. Target reported only a slight increase in customer traffic, with Chief Executive Brian Cornell citing “continued weakness in the discretionary category.” Delta Air Lines – Shares of Delta Air Lines fell less than 1% despite forecasting mid-single-digit revenue growth next year, in line with analysts’ expectations. Delta Air Lines said sales will grow in 2025, citing a “resilient economy” with strong travel demand and credit card spending, especially on premium products. The company also said it expects earnings to grow in the coming years. The stock has gained about 60% this year. Robinhood — Shares of Robinhood rose more than 3% after Needham upgraded the trading platform to buy from hold. Additionally, the company said it plans to acquire TradePMR, a registered investment advisor custody platform, for approximately $300 million, which is expected to close in the first half of 2025. Reduce the weight and adjust it to the same weight. During the call, the company mentioned Lemonade’s “ambitious” goals to grow its business and its planned path to achieving positive net profits by 2027. Keysight Technologies — The electronic test and measurement equipment company beat Wall Street expectations for its fiscal fourth quarter, sending its shares up more than 6%. Keysight Technologies also gave an optimistic outlook for the current quarter, predicting adjusted earnings per share of $1.65 to $1.71. That was better than analysts’ expectations for earnings of $1.57 per share, according to FactSet. Super Micro Computer – Shares fell nearly 8%, giving back some of Tuesday’s gains of more than 31%. Shares of the struggling server maker were trading higher after AMD announced it hired BDO as its new auditor and submitted a plan to Nasdaq detailing how it would comply with the exchange’s listing requirements. rebounded on the day. Dolby Laboratories — The audio technology company reported quarterly results that topped Wall Street expectations, sending its shares up more than 14%. According to FactSet, Dolby earned 61 cents per share in the fourth quarter, which was higher than analysts’ forecast of 45 cents per share. Dolby also increased its quarterly dividend by 10% to 33 cents per share, which will be paid on December 10. revenue, but the company’s stock price still fell 6%. Qualcomm also detailed a plan to generate $4 billion in revenue for industrial chips and a $2 billion sales target for chips used in virtual and augmented reality headsets, among other goals. —CNBC’s Alex Harring, Brian Evans, Sean Conlon, Yun Li and Michelle Fox contributed reporting.
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