A customer exits a Big Lots store in Clifton, New Jersey.
Emile Wamsteker | Bloomberg | Getty Images
Check out the companies making headlines in midday trading.
Big Lots — The retail stock sank 9% after the company declined to give guidance as part of its third-quarter earnings report. Big Lots beat analyst expectations on the top and bottom lines, according to FactSet, but the company said in a release that “it does not have sufficient visibility to provide fourth quarter guidance.” CEO Bruce Thorn also said in a release that he expected business to “moderate” in the fourth quarter due to a longer holiday shopping season.
Carvana – The online car retailer jumped more than 4% following a bullish call from Jefferies. The firm launched coverage of the stock with a “buy” rating, noting that the company operates in a “massive addressable market ripe for disruption.”
DocuSign – Shares of the electronic signature company popped more than 5% after beating on the top and bottom lines of its quarterly results. DocuSign posted earnings of 22 cents per share on revenue of $383 million. Wall Street expected earnings of 13 cents per share on revenue of $361 million, according to Refinitiv.
Cloudera – Shares of the cloud company surged more than 10% following its better-than-expected earnings report. Cloudera earned 15
Check out the companies making headlines before the bell Friday:
Ollie’s Bargain Outlet (OLLI) — Shares of the retailer slid more than 11% following commentary around a slowdown in the company’s fourth-quarter trends. “Quarter-to-date, our comparable-store sales increases are tracking in the low single-digits,” CEO John Swygert said in a statement. Goldman Sachs downgraded the company to a “neutral” rating. The company did, however, beat top and bottom line estimates during the period.
Marvell Technology (MRVL) — Shares of the semiconductor company slid more than 5% following Marvell’s third-quarter earnings results. The company earned 25 cents per share, which was in line with Street estimates compiled by FactSet. The company’s revenue of $750.1 million was just shy of the expected $751 million. Storage sales, however, slipped quarter-over-quarter, and the company’s fourth-quarter guidance disappointed the Street.
Carvana (CVNA) — Shares of the online car retailer advanced more than 2% after Jefferies initiated coverage on the stock with a “buy” rating. In a note to clients titled “A Shiny New Model That’s Speeding Past Competition,” the firm said Carvana operates in a “massive addressable market ripe for disruption.” Jefferies has a $300 target on the stock, which is about 32% above where shares closed on Thursday.
Dish Network (DISH) — Shares of the television provider slid 1% following a downgrade to “neutral”