Casper’s underground campaign
Check out the companies that are making headlines in midday trading.
3D Systems – The 3D printing company’s stock rose about 40% after reporting earnings of 12 cents per share in the second quarter, beating the consensus estimate of 5 cents per share. 3D said it made it through the company’s toughest 12 months ever. Reported sales also exceeded estimates.
The RealReal – The luxury goods brand’s shares fell more than 17% after reporting a quarterly loss late Monday. The company reported a strong gross merchandise value of $ 350 million, up 91% year over year, and said that as home appointments resume, units per appointment will exceed pre-pandemic levels. Nevertheless, the company missed the sales forecasts.
AMC Entertainment – AMC rose about 1% after reporting a 71 cents per share loss late Monday, which was less than analysts’ forecast of 91 cents per share loss. The cinema chain reported revenues of $ 444.7 million, more than analysts’ expectations of $ 382.1 million. It also announced it would accept cryptocurrencies in US locations this year.
Kansas City Southern – The railroad operator’s shares rose more than 7% after the Canadian Pacific Railway raised its tender offer to about $ 300 per share. The offer came three months after the companies’ merger agreement ended amid a competing bid from the Canadian National Railway.
Casper – Casper, the maker of sleep products, fell 13% in midday trading. Despite reporting record quarterly sales that exceeded Wall Street forecasts, it still posted a loss for the period. The company cited strong growth in retail and direct sales, but also said input costs are higher and there are difficulties in the supply chain.
Sysco – The distribution company’s shares rose 6.5% after a better-than-expected earnings report. According to FactSet, Sysco achieved earnings per share of 71 cents in the fourth quarter of the fiscal year, compared to the 60 cents expected by analysts. Sales were also above estimates.
II-VI – The manufacturer of optoelectronic components recorded a price decline of over 3% after the publication of its quarterly results. Although it posted earnings of 88 cents per share, beating analyst estimates by 12 cents, it also had the highest order book ever at the end of the quarter.
Boston Beer – Boston Beer shares fell more than 2% after the brewer announced a partnership with PepsiCo to make an alcoholic Mountain Dew drink. The drink called Hard Mtn Dew will be a flavored malt drink with 5% alcohol by volume.
Aramark – Shares in the business uniforms and grocery company fell over 2% after the company’s earnings fell below expectations. Aramark reported adjusted earnings of 3 cents per share for the third quarter of fiscal year on sales of $ 2.98 billion. Analysts polled by Refinitiv searched for 1 cent per share on sales of $ 3.06 billion. StreetAccount estimates that organic growth was lower than expected.
– CNBC’s Yun Li, Hannah Miao and Jesse Pound contributed to the coverage
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