Stocks making the biggest moves midday: Rocket Lab, Lululemon, AppLovin, Bausch + Lomb and more
Check out the companies making headlines in midday trading. Rocket Lab — Stock in the aerospace manufacturer gained 3% after the U.S. Space Force listed the company as one of the firms entered in its pool of launch providers. Braze — Stock in the cloud software company added 6% after beating analyst estimates in the fourth quarter on the top and bottom line. Braze reported adjusted earnings of 12 cents per share, while analysts surveyed by FactSet were looking for 5 cents. Revenue of $160.4 million also beat the $155.7 million forecast from analysts. Lululemon — Shares of the athleticwear company plunged more than 14% after the firm issued 2025 guidance that disappointed analysts . The company said consumers are spending less due to economic and inflation concerns, resulting in lower U.S. traffic at Lululemon and industry peers. W.R. Berkley — The insurance stock jumped 8% after W.R. Berkley said that Japan’s Mitsui Sumitomo Insurance has agreed to purchase 15% of the company’s common shares. The purchases are part of an agreement between MSI and the Berkley family and could lead to a new board member for W.R. Berkley, according to the press release. Oxford Industries — Shares of the clothing retailer were off more than 3% after its full-year guidance missed analyst estimates. Oxford Industries forecast revenue in the range of $1.49 to $1.53 billion for the fiscal-year, while analysts polled by FactSet were looking for $1.54 billion. Executives said rising consumer uncertainty is a major overhang to the company’s outlook. Bausch + Lomb — Shares of the eye health company shed 5%. Bausch + Lomb said on Thursday it was voluntarily recalling certain implantable eye lenses after complications were reported. The recall and subsequent uncertainty around the products prompted Wells Fargo to downgrade shares to equal weight from overweight. AppLovin — Stock in the mobile technology company added 7% Friday, following a sharp sell-off on Thursday that saw shares fall more than 20%. Short seller Muddy Waters on Thursday alleged AppLovin’s ad tactics violated app stores’ terms of service. Argan — Shares surged nearly 24% after the energy plant design and construction holding company beat fourth-quarter estimates on the top and bottom line. Argan earned $2.22 per share on revenue of $232.5 million. Analysts surveyed by FactSet forecast earnings of $1.15 per share and $197.5 million in revenue in the fourth quarter. Infinity Natural Resources — Stock in the exploration and production company pulled back almost 3% after its fourth-quarter net income missed analyst estimates. Analysts surveyed by FactSet were looking for a profit of $23.3 million, but it reported a loss of $5.5 million in the fourth quarter. — CNBC’s Yun Li, Michelle Fox and Jesse Pound contributed reporting Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
