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See which companies are making the biggest moves midday.
relative humidity — Shares of the luxury retailer rose 17.2% after publishing strong forecasts for demand and revenue growth for the full year. That allowed investors to shrug off fourth-quarter earnings that fell below expectations.
Estee Lauder — The stock jumped more than 6% after Bank of America upgraded its rating to neutral. The firm highlighted improved profitability, new product launches and a growing presence in the prestige beauty sector.
Reddit — Shares fell 10.4% after CEO Steve Ladd Huffman said he sold 500,000 shares and Chief Operating Officer Jennifer Wong said she sold 514,000 shares. The stock has soared since its debut on the New York Stock Exchange on March 25, up 92% as of Wednesday’s close.
Chemury — Shares fell more than 7% after chemical company statement that it cooperates with regulators and U.S. attorneys on internal audits of its financial practices. An internal review found that executives manipulated cash flow to achieve targets related to their bonuses.
Snowflake — Shares of the cloud data provider rose 1.7% on the day after CEO Sridhar Ramaswamy said in a filing that he bought 31,542 shares. He paid $158.52 per share, bringing the total payout to $5 million.
AMC Entertainment — Shares fell 15% after the movie theater chain said in a filing it would sell $250 million worth of stock.
Verint Systems — Shares added 5% after the customer engagement solutions provider beat expectations for earnings per share and revenue in the fourth quarter. Verint Systems reported earnings of $1.07 per share, excluding items, on revenue of $265.1 million, while analysts polled by FactSet had forecast adjusted earnings of 97 cents per share on revenue of $262.5 million. .
TD Sinnex — Shares fell 2.5% after the tech company launched a secondary public offering of 10.5 million shares of common stock currently held by Apollo Global Management, down from a previously announced nine million. TD Synnex also authorized the simultaneous repurchase of 500,000 shares under its existing repurchase program.
MillerKnoll — Shares of the furniture company fell more than 18% after reporting lost revenue in the fiscal third quarter and issuing guidance that fell below analysts’ expectations. MillerKnoll said demand patterns remain sluggish due to high interest rates, geopolitical concerns and a lagging U.S. housing market.
soldering — Shares fell 10% after the consumer engagement platform posted disappointing forecasts. Braze expects a loss of 10 cents to 11 cents per share in the first quarter, compared with a loss of 5 cents expected by analysts polled by FactSet. Its full-year forecast called for a loss of 8 cents to 12 cents per share, compared with the consensus estimate of a loss of 2 cents.
Allstate — Shares of the insurance company rose almost 2% thanks to an upgrade to HSBC shares before the buyback from standby mode. The bank cited Allstate’s “decisive management actions” and less stringent regulatory conditions for this requirement.
— CNBC’s Alex Harring, Hakyung Kim and Pia Singh contributed reporting.