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Stocks making the biggest moves midday: Nordstrom, Hasbro, Hawaiian Electric, Affirm and more – CNBC

Shoppers walk in front of a Nordstrom sign at the Westfield San Francisco Center in San Francisco on May 11, 2023.

Justin Sullivan | Getty Images

Check out the companies making the biggest moves at noon.

Nordstrom — The department store retailer fell 8.6% despite beating earnings and sales expectations for the second quarter of the fiscal year. Earnings were 40 cents above analyst estimates of 44 cents in a Refinitiv survey. Sales were below pre-pandemic levels, and Nordstrom left its previous full-year outlook unchanged in preparation for a single-digit decline in sales. The company also warned that theft-related losses are at “historically high levels.”

The positive — the buy-now-pay-later company’s stock surged 30% after reporting better-than-expected fourth-quarter results on the back of higher total product volumes. Affirm also provided strong guidance, predicting first-quarter revenue of $430 million to $455 million, versus analysts’ expectations of $430 million.

Hawaiian Electric — Power company shares fell 16% on news that Maui County is suing the company for damages related to wildfires on the island that killed more than 100 people. The complaint alleges that Hawaiian Electric kept the power lines on despite warnings from the National Weather Service that high winds and drought meant there was a high risk of fire.the company said NBC News He regretted that the county had taken the path of litigation and noted that the investigation was still ongoing.

Hasbro — Stifel raised its price target from $79 to $94 on Thursday, suggesting the toy maker’s shares are up 4.6%, about 43% from Thursday’s close. The Wall Street firm also added the company to its top pick list, citing significant changes and opportunities within the company. Bank of America raised its price target to $90 from $85 on Tuesday. Shares are up nearly 9% since the start of the week.

Advance Auto Parts — Shares fell 6.1% after the auto parts retailer was excluded from the S&P 500 on Friday.

Workday — Shares surged nearly 4.2% after the enterprise software company’s better-than-expected second-quarter results. Adjusted earnings per share came in at $1.43, beating analyst expectations of $1.26, according to Refinitiv. Revenue came in at $1.79 billion, compared to the expected $1.77 billion.

Intuit — Shares surged 3.4% to a 52-week high after the software company’s better-than-expected earnings. Adjusted earnings per share in the fourth quarter were $1.65, compared with analyst estimates of $1.44 in a Refinitiv survey. Sales totaled $2.71 billion, beating expectations of $2.64 billion. The company also shared a better-than-expected full-year outlook.

Gap — The retailer gained 5.6% after reporting mixed quarterly results. Adjusted earnings per share came in at 34 cents, beating consensus expectations of 9 cents, according to Refinitiv. Gap’s revenue was $3.55 billion, below the $3.57 billion forecast.

Marvell Technologies — Marvell fell 7% despite slightly outperforming earnings. Earnings per share in the second quarter came in at 33 cents, compared with the expected 32 cents per share, according to Refinitiv. Revenue was $1.34 billion, with consensus expectations of $1.33 billion.

Ulta Beauty — The beauty retailer’s stock fell 3%, reversing previous gains after a better-than-expected quarterly earnings report. Ulta posted his earnings per share of $6.02 on his $2.51 billion earnings in the second quarter. Analysts had expected earnings of $5.85 a share and revenue of $2.51 billion, according to Refinitiv. The company also raised its full-year outlook.

AMC Entertainment — Stock fell 9% after the company converted preferred stock units to common stock.

Shift4 Payments — The payments firm rose 2.1% following Morgan Stanley’s upgrade from underweight to equalweight. The company said its valuation now better reflects its business.

— CNBC’s Yoon Lee, Hakyung Kim, Alex Haring, Samantha Soobin and Michael Bloom contributed to the report.

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