Here’s a look at the companies making headlines in midday trading: Crocs — The footwear company’s shares jumped nearly 2% after Williams Trading upgraded the stock to a buy rating. Crocs’ hiring of actress Sydney Sweeney as the face of its Heydude brand could reverse an earlier negative sales trend, the investment firm said. Nordson — The adhesive stock rose 2% after its fiscal third-quarter profit beat estimates. Nordson reported adjusted earnings of $2.41 per share, while analysts polled by FactSet expected just $2.33. The company’s revenue of $661.6 million also topped consensus estimates of $656.5 million. Deutsche Bank – Shares of Deutsche Bank’s U.S.-listed shares rose more than 3% after the bank announced a settlement with nearly 60% of the plaintiffs involved in its acquisition of Postbank more than a decade ago. Wolfspeed – The stock fell 4% after reporting a fourth-quarter loss of 89 cents per share, 4 cents higher than analysts polled by LSEG expected. Wolfspeed’s revenue of $201 million was in line with expectations. Snowflake — Shares of the software company plunged 13%. Analysts pointed to slower growth as a potential reason for the stock’s decline, even though the stock beat profit and revenue estimates in the latest quarter. Urban Outfitters – The apparel retailer reported a 9.3% year-over-year decline in second-quarter sales at stores open at least a year, sending its shares down 9%. That beat analysts’ expectations for an 8.3% decline, according to LSEG. However, the company’s earnings and revenue performed well. Peloton — The connected fitness company’s sales grew for the first time in nine quarters, sending its shares up 34% after implementing a turnaround plan. Peloton lost 8 cents per share, less than expected. Advance Auto Parts — Shares fell 16% after the auto parts retailer reported second-quarter earnings of 75 cents a share, while analysts polled by FactSet expected earnings of 93 cents a share. The company also lowered its full-year guidance. Shares of Paramount Global rose nearly 2% after the media company’s special committee announced an extension of the “go shop” period of its merger agreement with Skydance. Paramount Commission also confirmed it has received a competing bid from Edgar Bronfman Estée Lauder – the beauty company’s shares rose 2 after upgrading Piper Sandler from Neutral to Overweight % above. Analyst Korinne Wolfmeyer said the management changes were one reason for her renewed optimism. Stryker — Stryker shares rose 1% on news that the medical stock will acquire Vertos Medical, a company focused on treating chronic low back pain. Williams-Sonoma — The kitchenware retailer’s second-quarter revenue of $1.79 billion fell short of analysts’ expectations of $1.81 billion, according to LSEG, and its shares plunged 7%. However, the company’s earnings per share of $1.74 topped the consensus estimate of $1.60. Zoom Video — The telecom stock rose 13% after beating second-quarter profit and revenue estimates. Zoom also guided for third-quarter and full-year profit and revenue, which was above analysts’ expectations. —CNBC’s Michelle Fox, Jesse Pond and Samantha Subin contributed reporting.
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