Campbell’s Soup products stand on a store shelf
David McNew | Getty Images
Check out the companies making headlines midday Wednesday:
Salesforce — Shares of cloud software company Salesforce rose 3.7% on first-quarter that beat analysts’ expectations. Revenue came in at $3.74 billion, topping a Refinitiv estimate of $3.68 billion. Earnings per share totaled 93 cents, higher than the forecast 61 cents per share.
Campbell Soup —Campbell Soup shares soared more than 8% after raising its full year earnings forecast. For the full year, Campbell expects adjusted profit of between $2.50 and $2.55 per share, compared with the previous forecast of between $2.45 and $2.53. The food company also reported strong quarterly earnings of 56 cents per share on revenue of $2.388 billion. Wall Street expected earnings per share of 47 cents on revenue of $2.365 billion, according to Refinitiv.
Vera Bradley — Shares of the purse maker rose more than 7% after the company reported quarterly revenue that topped estimates. The company’s sales totaled $91 million in the first quarter, topping a FactSet estimate of $87.9 million. Vera Bradley also posted same-store sales that beat analyst expectations.
Cronos Group — The Canadian pot company’s stock was upgraded to buy from underperform by Bank of America, sending its shares up 8.8%. The analyst cited “improved confidence” in Cronos based on its prospects for expansion in the U.S.
GameStop — The video game retailer’s shares plunged more than 30% after the company reported disappointing quarterly numbers and announced the elimination of its quarterly dividend. GameStop also said it expects 2019 sales to drop between 5% and 10%.
American Eagle Outfitters — Shares of American Eagle jumped climbed 3.8% after posting better-than-expected first-quarter results. The retailer reported earnings per share of 24 cents, beating a Refinitiv estimate by 3 cents. Revenue was $886.3 million, topping the forecast $855.6 million. Same-store sales crushed expectations, growing 6%, while analysts estimated an increase of 3.1%.
Uber Technologies — Uber shares rose 3.1% after Raymond James initiated the stock with an outperform rating. Raymond James predicted Uber’s revenue will grow more than 25% over the next five years.
Roku — Shares of Roku jumped 6.6% after an analyst at Guggenheim upgraded the stock to buy from neutral and raised its 12-month price target to $119 per share from $75. Guggenheim cited strong growth in video advertising and other metrics for the upgrade.
Norwegian Cruise Line — Norwegian Cruise Line shares were downgraded to neutral from buy at Buckingham, sending them down 5% on the day. The firm said the cruise company faces earnings growth risks amid travel restrictions to Cuba. Buckingham also slashed its price target on the stock to $56 per share from $77.