See the companies making headlines in midday trading. La-Z-Boy – Shares soared more than 19% after the furniture company beat Wall Street expectations in its fiscal fourth quarter. La-Z-Boy reported adjusted earnings of 95 cents per share on revenue of $554 million. That’s above estimates of earnings of 70 cents per share on revenue of $516 million, according to analysts surveyed by LSEG. Rocket Lab USA – Shares of the space company jumped about 13% after it signed a 10-launch deal with a Japanese Earth observation company. Synspective. New launches are planned for the period from 2025 to 2027. elf Beauty – Shares of the cosmetics company rose more than 9% after Canaccord Genuity said the stock was expected to rise strongly. The firm raised its price target on the stock to $250 from $214, suggesting upside potential of nearly 30% from Monday’s close. Six Flags, Cedar Fair – Shares of Six Flags and Cedar Fair rose approximately 5.8% and 7.5%, respectively, following news that their merger is expected to close on July 1st. Six Flags will also pay shareholders a special dividend of $1.53 per share upon closing of the transaction. Celsius Holdings – Shares of the energy drink maker rose more than 8% after Piper Sandler reiterated her outperform rating and called the recent selloff “excessive.” The company’s price target suggests shares could jump more than 50% from Monday’s close. NextEra Energy shares fell more than 2.5% after the company said it plans to sell $2 billion worth of shares to finance energy projects and pay down debt. Lennar – Shares of the homebuilder fell nearly 5% after the company predicted in its fiscal third-quarter guidance that new orders would decline quarter over quarter. However, the company posted better-than-expected second-quarter results, reporting earnings of $3.45 per share on revenue of $8.77 billion, compared to estimates of earnings of $3.24 per share on revenue of $8.52 billion Patterson Companies – Shares of the dental and veterinary company rose about 11% after it beat Street expectations for fiscal fourth-quarter revenue. The company reported adjusted earnings of 82 cents per share on revenue of $1.72 billion. Analysts polled by FactSet expected earnings of 82 cents per share on revenue of $1.7 billion. Occidental Petroleum – Shares of the Houston oil and gas producer rose about 1.8% after documents showed Warren Buffett’s Berkshire Hathaway bought more shares in each of the last nine trading sessions. The purchases bring Berkshire’s stake to more than 255 million shares, or 28.8%. Buffett ruled out the possibility of gaining full control of the oil company. Semiconductor stocks. Chip stocks rose during Tuesday’s trading session, with the VanEck Semiconductor ETF (SMH) hitting an all-time high after rising more than 1.5%. Micron Technology and Qualcomm rose 3.8% and about 2%, respectively, while Nvidia shares traded 3.5% higher. — CNBC’s Alex Harring, Michelle Fox, Sarah Min and Yun Lee contributed reporting.
