Check out the companies that are trending in intraday trading. Hormel Foods — Shares soared 13.3% after the food processing company beat fiscal first-quarter earnings and revenue estimates. Earnings per share excluding items were 41 cents on revenue of $3 billion. Analysts polled by FactSet had expected sales of $2.91 billion and earnings of 34 cents a share. The company said it expects continued growth in its food service business and improvement in its international division. Monster Beverage — The energy drink maker reported fourth-quarter adjusted profit, reporting strong January sales and gross margin expansion despite slightly lower sales, according to FactSet. The stock price rose about 5% following the record. Morgan Stanley and RBC raised their price targets on the stock Thursday. C3.ai — The artificial intelligence software stock rose more than 24% after C3.ai reported below his adjusted loss of 13 cents per share. The company’s earnings also exceeded Wall Street expectations. CHEMOURS — The chemical company has placed its chief executive officer, chief financial officer and chief accounting officer on leave and announced it is conducting an internal investigation to examine potential “material weaknesses” in its financial reporting. As a result, the stock price fell more than 33%. The company also postponed its fourth quarter financial results report. Okta — Shares rose 20% after Bank of America Securities doubled down to buy the identity management company out of underperformance. The bank believes Okta’s full-year outlook is overly conservative, which could lead to upward revisions to expectations throughout the year. Bank of America also raised its price target to $135 from $64, suggesting a potential upside of nearly 55% from Wednesday’s closing price. BIRKENSTOCK — Shares of newly publicly traded footwear maker Birkenstock rose more than 6% after the company reported a 22% year-over-year increase in sales due to higher prices and stronger U.S. demand. Best Buy — Shares rose 3% after the electronics retailer reported quarterly results that beat analysts’ expectations. Best Buy reported fourth-quarter adjusted earnings per share of $2.72, beating LSEG’s estimate of $2.52. Revenue also came in at $14.65 billion, exceeding the consensus estimate of $14.56 billion. Snowflake — Cloud Shares plunged nearly 20% after his data company reported disappointing first-quarter product revenue guidance and Snowflake CEO Frank Slootman announced he would step down. did. Morgan Stanley also reduced its weight in cloud stocks by a similar amount. Paramount Global — Shares rose nearly 3% after the media company posted a surprise quarterly profit. Paramount+, Paramount’s streaming platform, reached 67.5 million subscribers in the latest quarter, with a net gain of 4.1 million. However, the company did not meet sales expectations for the fourth quarter. Pure Storage — Shares rose more than 22% after the data storage company reported better-than-expected fourth-quarter profits and a positive first-quarter outlook. The company’s adjusted net income was 50 cents per share on revenue of $790 million. AMC Entertainment Holdings — Shares fell nearly 12% after the movie theater operator posted a bigger-than-expected loss. However, fourth-quarter sales of $1.1 billion beat LSEG’s estimate of $1.05 billion. Figure — Shares fell more than 16% after the apparel company reported disappointing fourth-quarter sales and announced its chief financial officer would step down in April. Figs’ sales were $145 million, compared to the expectations of analysts surveyed by LSEG of $150 million. Celsius Holdings — The energy drink maker rose nearly 19% to a record high after better-than-expected results. Celsius had fourth-quarter sales of $347.4 million and earnings per share of 17 cents. Analysts polled by LSEG had expected earnings of 15 cents a share and revenue of $331.5 million. Duolingo — Shares rose as much as 22% after the education technology company beat expectations for the fourth quarter and also provided strong first-quarter and full-year revenue estimates. According to LSEG, Duolingo posted earnings of 26 cents per share on revenue of $151 million, compared with analysts’ expectations of 17 cents per share on revenue of $148 million. exceeded. —CNBC’s Alex Harring, Yun Li and Michelle Fox Theobald contributed reporting.
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