Check out companies making headlines in midday trading: Abercrombie & Fitch – Retailer’s stock rose 19% after street estimates led by results at Hollister, with Abercrombie & Fitch’s first quarter income and revenues. Investors have reduced tariff profit guidance and operating profit margin forecasts past A&F. OKTA – The identity management software company’s stock fell by more than 14% without changing its guidance, citing macroeconomic uncertainty. The company’s first quarter revenue and revenues were better than expected. Vail Resort – Ski Resort operators have skyrocketed over 12% after Robkats returned as CEO and replaced Kirsten Lynch. Executive Chairman Katz served as CEO from 2006 to 2021. Box – Stocks skyrocketed 17%, reaching an all-time high following Box’s first quarter revenue and revenue beat analyst estimates. Cloud Storage Company’s second quarter and full year progress guidance also exceeded expectations. Joby Aviation – Electric vertical takeoff and landing aircraft makers rose 27% after Toyota agreed to make an initial investment of $250 million, part of a total $500 million investment announced last year. GameStop – Meme Stock fell 11% after video game retailers bought 4,710 bitcoins. This is worth over $5 billion. Having accumulated $4.766 billion in cash as of February, GameStop has launched a cryptocurrency purchase plan similar to what MicroStrategy made famous. The purchase was made after Bitcoin hit a record high of nearly $112,000. Capri Holdings – Shares rose 5% after Michael Kors and Jimmy Choo Brands’ parent company recorded fourth-quarter earnings of $1.04 billion, according to Factset, which was forecast by $1 billion analysts. Capri’s full-year revenue guidance, ranging from $1.20 to $1.40 per share, was also higher than the consensus estimate of $1.02. Last month, Capri signed a decisive agreement to sell the Versace unit to the Prada Group. FreshPet – Pet food companies fell nearly 3% after TD Cowen downgraded inventory to keep from purchases. The company’s refrigerated dog food concept is “closing its saturation point faster than expected,” indicating a slow pace of sales growth. – Reported by Yun Li, Lisa Kailai Han, Pia Singh and Michelle Fox of CNBC.
Vail Resort, Game Stop, etc.
