Take a look at the companies making headlines in midday trading: VF Corporation — shares up more than 22%. Quarterly results from the parent company of The North Face and JanSport topped Wall Street’s fiscal second-quarter expectations. VF Corporation reported adjusted earnings of 60 cents per share on revenue of $2.76 billion. That was higher than the 37 cents per share earnings and $2.71 billion in revenue expected by analysts polled by LSEG. Cadence Design Systems – The electronics design company’s third-quarter results beat expectations, and its stock price rose more than 10%. Cadence reported adjusted earnings of $1.64 per share on revenue of $1.22 billion, while analysts polled by LSEG expected earnings of $1.44 per share on revenue of $1.18 billion. The company also raised the midpoint of its full-year non-GAAP earnings per share forecast. F5 — Cloud services stocks rose 11%. F5 reported fourth-quarter adjusted earnings per share of $3.67 on revenue of $747 million. The results beat Wall Street expectations for LSEG’s earnings of $3.45 per share and revenue of $731 million. BP — Shares in U.S. trading fell about 5%. The British oil company posted its weakest quarterly results since 2020. BP reported third-quarter underlying replacement cost profit of $2.3 billion, down from $3.3 billion in the same period last year. Pfizer — Shares of the vaccine maker fell nearly 2% despite third-quarter revenue and profit beating Wall Street expectations. Pfizer now expects full-year adjusted earnings per share of $2.75 to $2.95, compared with its previous forecast of $2.45 to $2.65 per share. Boot Barn — Shares of Boot Barn fell more than 19% after the clothing retailer’s fiscal second-quarter earnings met Wall Street expectations of 95 cents a share. The company also said Chief Executive Jim Conroy will step down effective Nov. 22. . Trex — The deck materials maker gained 6% on stronger-than-expected third-quarter results. Trex reported adjusted earnings of 37 cents per share on revenue of $233.7 million, while analysts polled by FactSet expected earnings of 32 cents per share on revenue of $225.4 million. Xerox — The printer maker’s third-quarter results missed Wall Street expectations for revenue and profit, sending its shares tumbling nearly 19%. The company also lowered its full-year free cash flow guidance. Xerox said it expects full-year revenue to fall 10%. Crocs — The footwear stock fell about 18% after its fourth-quarter outlook missed analysts’ expectations. Crocs expects adjusted earnings per share in the range of $2.20 to $2.28 in the fourth quarter, while analysts polled by FactSet forecast earnings of $2.72 per share. PayPal – The payments company gave lower-than-expected fourth-quarter guidance and called for “low-single-digit growth” in the quarter, sending its shares down about 3%. PayPal’s third-quarter profit beat expectations, but revenue fell slightly. DR Horton — Shares fell 8% after the homebuilder reported earnings of $3.92 per share on revenue of $10 billion. That was below consensus estimates for LSEG’s earnings of $4.17 per share and revenue of $10.22 billion. Fluctuating interest rates may keep some buyers on the sidelines in the short term, the company said. Corning – Shares of Corning rose about 8% after the specialty glass company issued an upbeat fourth-quarter profit and revenue outlook. Corning now forecasts core earnings per share of between 53 cents and 57 cents, while analysts polled by FactSet forecast 52 cents. The company also expects core revenue for the quarter to be approximately $3.75 billion, compared with the consensus estimate of $3.67 billion. Royal Caribbean cruise operator shares rose more than 3% after raising full-year guidance. The company raised its full-year profit forecast to $11.57 to $11.62 per share, compared with its previous forecast of $11.35 to $11.45 per share. Ford Motor Co. — Shares of Ford Motor Co. fell nearly 9% after the auto giant cut its 2024 profit forecast to the lower end of the range. Third-quarter revenue and profit beat expectations. —CNBC’s Pia Singh, Michelle Fox, Samantha Subin, Sean Conlon and Alex Harring contributed reporting.
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