The logo and trading symbol for Twitter is 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 making headlines in midday trading.
UiPath — The stock fell 12.9% after UiPath issued weaker-than-expected revenue guidance for the third quarter and full year. However, the robotic process automation software company beat earnings and revenue expectations in its most recent quarter.
Coupa Software – Coupa Software rose 13% after posting earnings that beat expectations in its most recent quarter, as well as outlining strong full-year earnings and revenue guidance.
ChargePoint – ChargePoint rose 8.2% after Credit Suisse initiated coverage of the electric vehicle charging station operator with a buy rating, saying shares could jump roughly 50% from here. The firm’s analyst said ChargePoint stations should get a boost from favorable US regulatory policies.
Gitlab – Shares jumped 6.7% after the software developer reported a smaller-than-expected loss in the latest quarter. Gitlab also issued better-than-expected guidance for the third quarter.
Pinterest – The social media stock rose 4.6% after Wolfe Research upgraded it to outperform. The firm was bullish on Pinterest’s new CEO, who analysts say could improve execution of the company’s long-term user and monetization goals.
Twitter — Shares of Twitter rose 4.8% after a Delaware court blocked Elon Musk’s request to delay a trial focused on his move to abandon a $44 billion deal to buy the social media company. The court, however, said it would allow Musk to add allegations from a Twitter whistleblower to his counterclaim.
Starbucks – Shares of the coffee chain rose 3% after Barclays said it had buying options for the stock ahead of its upcoming investor day. Barclays said in a note to clients that it has confidence in Starbucks CEO Laxman Narasimhan.
Petco Health and Wellness – Shares of the pet products retailer rose 4.5% after RBC initiated coverage with an outperform rating. Analysts noted that much of the weakened consumer environment has already been reflected in the stock price and believe Petco is well-positioned to take share of the US pet category “given its revised strategy of the company, the portfolio with structural advantages of real estate and the opportunity to expand the vet”.
Baker Hughes – Energy stocks fell as oil prices fell to seven-month lows, with Brent crude futures and US West Texas Intermediate crude futures falling more than $3 each. Baker Hughes shares fell 3.2%. Halliburton fell 2.5% and Occidental Petroleum and Marathon Oil both eased 2.1%.
– CNBC’s Jesse Pound, Samantha Subin, Michelle Fox Theobald contributed reporting.
