Los Angeles, Calif. Jan. 11, 2023 Preparing to take off at LAX on Jan. 11, 2023 after FAA computer problem.
Carolyn Cole | Los Angeles Times | Getty Images
Check out the companies making headlines in afternoon trading.
knowledgeable — Shares of Cognizant gained 8% after the IT company raised its fourth quarter revenue guidance. It named Ravi Kumar S as CEO and member of the board with immediate effect. Kumar was earlier the chairman of Infosys.
American Airlines – Shares soared more than 7% after the airline Raised its revenue and profit projections for the fourth quarter. American Airlines, which reports earnings Jan. 26, cited strong demand and higher fares for raising estimates.
Logitech International – The keyboard and mouse maker fell more than 16% after Logitech announced preliminary results showing a drop in sales and earnings. For the quarter ended December 31, Logitech said it expects net sales to be down more than 20% year over year in US dollars. Operating income is projected to decline by more than 30%. CEO Bracken Darrell said in the statement that a slowdown in enterprise sales was partially to blame for the results.
disney Disney shares rose 4.1% after the company announced Nike executive chairman Mark Parker as its new chairman. In addition, the company opposed Trian’s Nelson Peltz because he was pushing for a seat on the board. Ignite a Proxy Battle,
hewlett packard enterprise — The IT giant fell 2.3% after its acquisition of startup Pachyderm, a startup that distributes software for automating reproducible machine learning pipelines targeting large-scale AI applications. Separately, Evercore ISI downgraded the stock to Outperform on Thursday.
KB Home — Shares of the homebuilding stock declined 2.8% after earning earnings below Wall Street’s expectations. The homebuilder reported earnings per share of $2.47, falling short of Street Accounts forecasts of $2.86. The company also warned of further price cuts.
Tesla – Tesla fell down 2% report good That company’s plans to expand capacity at its Shanghai factory have been put on hold because of data concerns raised by China’s central government. According to Bloomberg, the expansion was initially set to begin in the middle of the year.
Energy Stocks – Energy stocks were top gainers in Thursday’s session as oil prices gained momentum following US CPI data. Hayes And halliburton increased by more than 4%. SLB, Marathon Petroleum, Occidental Petroleum, Kotera And Devon Energy Each advanced by more than 2%.
Kamla — Shares rose 2.4% to a 52-week high after JP Morgan added the maker to its focus list, saying its margin potential is currently low.
bed Bath and Beyond — Bed Bath & Beyond up 18%, Building on gains after some meme shares surged on Wednesday, The stock soared nearly 69% in Wednesday’s session.
— CNBC’s Michelle Fox, Samantha Subin, Carmen Reinicke, Alex Harring and Jesse Pound contributed reportingx