A view of the cruise ship Norwegian Encore during her maiden voyage from PortMiami, which will take place on Jan. 21-24, 2019.
Orlando Sentinel | Tribune News Service | Getty Images
Check out the companies making headlines in midday trading.
Norwegian cruise line — Shares slid nearly 12% on Tuesday after the company reported second-quarter results that missed Wall Street’s expectations and showed utilization at just 65%, compared with more than 100% in the same quarter of 2019. Above it Additionally, the cruise line said it would not return to pre-pandemic occupancy levels until next year, suggesting losses will continue.
Micron technology – Shares of the chipmaker fell 5% after the company reported a drop in demand for its DRAM and NAND chips and said it expects a challenging market environment in the fourth quarter of fiscal 2022 and the first quarter of fiscal 2023. Several others Chip stocks fell with Micron. Applied Materials, About semiconductors and Teradine each fell about 7%.
seal jewellers — The jeweler’s shares fell about 11.5% afterwards lowered its financial guidance for the second quarter and fiscal year 2023 for the full year. There was weaker selling in July as inflation prompted consumers to rein in spending. The company also announced the acquisition of Blue Nile, but said the transaction is unlikely to be beneficial to the business until the fourth quarter of fiscal 2024.
Nilsen – Shares of the audience data analytics firm rose more than 21% after the company postponed its court session and special meeting of its shareholders, where it was expected to finalize an interim agreement between a private equity consortium and WindAcre. WindAcre currently owns around 27% of Nielsen stock.
Ralph Lauren — The luxury retailer fell 7% even after the company reported stronger-than-expected quarterly results. According to FactSet, the company posted adjusted earnings of $1.88 per share in the first quarter, beating the $1.71 estimate analysts had been expecting. Ralph Lauren also beat sales expectations, helped by solid demand for its higher-priced apparel.
main financial group — The investment and insurance company saw its share price rise 7% after reporting strong quarterly results. The company reported non-GAAP operating income of $1.65 per share. That was more than the $1.39 per share estimated by analysts, according to FactSet.
news company — Shares are up 5%, according to Fact Set, after the company’s quarterly earnings of 37 cents per share beat estimates of 9 cents per share. Revenue of $2.67 billion exceeded estimates of $2.58 billion.
Novavax — Shares plunged 29% after the biotech lowered its sales guidance for the full year nearly half due to weak demand for its coronavirus vaccines. Novavax expects it to post sales of $2 billion to $2.3 billion in 2022, compared to previous guidance of $4 billion to $5 billion.
Allbirds — The shoemaker’s share price plummeted more than 23% after the company lowered its financial guidance for the year, citing a slowdown in consumer spending. It also announced a series of cost-cutting efforts after reporting a higher quarterly loss compared to a year ago.
Western Petroleum – Occidental stock rose 3.8% after news that Berkshire Hathaway increased its stake in the oil giant to over 20%. Warren Buffett has been increasing his stake in the energy producer since March.
– CNBC’s Carmen Reinicke, Yun Li, Sarah Min and Samantha Subin contributed coverage