Twitter’s logo and trading symbols are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, July 11, 2022.
Brendan McDermid | Reuters
Check out the companies that make headlines in midday trading.
UiPath – Shares fell 12.9% after UiPath issued weaker-than-expected Q3 and full-year revenue guidance. However, the robotics process automation software company beat earnings and revenue expectations in its most recent quarter.
Coupa software – Coupa Software jumped 13% after posting earnings that beat expectations for its most recent quarter, as well as outlining strong full-year earnings and revenue guidance.
ChargePoint ChargePoint spiked 8.2% after Credit Suisse started reporting on the operator of electric vehicle charging stations with a buy rating, saying the stock could rise about 50% from here. The company’s analyst said ChargePoint stations will be motivated by favorable US regulatory policies.
Gitlab – Shares rose 6.7% after the software developer reported a smaller-than-expected loss in its most recent quarter. Gitlab also delivered better-than-expected Q3 guidance.
Pinterest – Shares on social media rose 4.6% after Wolfe Research has upgraded it to be superior. The company is positive on the new Pinterest CEO, who analysts say could improve the company’s execution of the company’s long-term user and monetization goals.
Twitter – Twitter shares rose 4.8% after Delaware court cancels Elon Musk’s request to postpone trial focused on the move to forgo a $44 billion contract to acquire the social media company. However, the court said it would allow Musk to add statements from a Twitter whistleblower to his set of objections.
Starbucks – Shares of the coffee chain rose 3% after Barclays says there’s a buying opportunity before its upcoming investor date. Barclays said in a note to customers that it has confidence in incoming Starbucks CEO Laxman Narasimhan.
Health and Wellness Petco – Pet products retailer shares rose 4.5% after RBC starts reporting with better ratings. Analysts note that much of the weakening consumer environment is already reflected in the stock price and believe that Petco is well-positioned to dominate the US pet portfolio “thanks to its revised corporate strategy change, the real estate portfolio has the structural advantage and the opportunity for vet expansion.”
Baker Hughes Energy stocks fell as oil prices fell to a seven-month low, with Brent futures and West Texas Central American crude falling more than $3 each. Shares of Baker Hughes fell 3.2%. Halliburton 2.5% off and Mysterious Oil and Marathon Oil both fell 2.1%.
– CNBC’s Jesse Pound, Samantha Subin, Michelle Fox Theobald contributed reporting.
