Stocks making the biggest moves midday: DocuSign, Campbell, Moderna and more

Finance

In this article

The Docusign Inc. website on a laptop computer arranged in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Campbell Soup – The food company saw shares gain 2.3% after reporting a better-than-expected quarterly report. Campbell posted an adjusted profit of 70 cents per share, 9 cents above Refinitiv consensus estimates. Sales also beat forecasts and Campbell raised its full-year sales outlook. The company reiterated its prior earnings forecast, noting it now expects core inflation to run hotter than its previous outlook.

Ollie’s Bargain Outlet Shares of the discount retailer jumped 5.9% even after a disappointing earnings report. Ollie’s posted earnings per share of 20 cents in the first quarter, missing a FactSet estimate of 30 cents. Chief Executive John Swygert said the company has not yet seen the full benefit of consumers trading down amid inflationary pressures.

Moderna Shares of the drug maker advanced about 4% after a study showed that an upgraded version of the firm’s coronavirus vaccine produced a better immune response against the omicron variant. Moderna expects the vaccine to get clearance in late summer.

Western Digital The technology stock fell more than 1% after Western Digital said it reached a settlement with activist investor Elliott Management, which has been seeking a breakup of the company. Western Digital said it is reviewing strategic alternatives, including a possible split of its flash memory and disk drive businesses.

Credit Suisse, State Street Shares rose 2.2% after a report that State Street was planning a takeover bid for the Swiss bank. State Street shares fell about 2%.

DocuSign The electronic signature company’s stock added 3.5% on news that DocuSign is expanding its partnership with Microsoft.

Affirm Shares of the buy-now-pay-later company fell 2.1% after Wedbush initiated Affirm with an underperform rating. Wedbush cited increasing competition in the space, slowing e-commerce sales and rising funding costs.

Altria Group The tobacco stock fell 5.6% after Morgan Stanley downgraded Altria Group to an underweight rating from equal weight. “We anticipate greater pressures from rising gas prices and weaker consumer sentiment, which should weigh on cigarette volumes and enhance trade down risk,” Morgan Stanley said.

Dutch Bros  The coffee chain saw shares fall 4.4% after JPMorgan downgraded the stock to a neutral rating from overweight. “Dutch Bros is a discretionary occasion, and is an ‘easy’ cut back when times feel ‘tighter,'” JPMorgan said.

— CNBC’s Yun Li, Tanaya Macheel and Samantha Subin contributed reporting

Products You May Like

Articles You May Like

IRS Extends Tax Return Due Dates For Kentucky Storm & Flood Victims
Here’s Why More Fed Officials Are Warning That The Market Is Getting Ahead Of Itself
Evergrande Creditors Left With Few Options As Beijing Sets The Agenda
With domestic fares down 25% since spring, now’s the time to book flights for fall trips, travel app study finds
Rent prices are soaring in these 5 U.S. metros. Here’s what to know before moving to a cheaper area