Twitter’s logo and trading symbol are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City on July 11, 2022.
Brendan McDermid | Reuters
Take a look at the companies making headlines in midday trading.
UiPath: Shares fell 12.9% after UiPath issued weaker-than-expected third-quarter and full-year revenue guidance. Still, the robotic process automation software company beat expectations for earnings and revenue in its most recent quarter.
Coupa Software: Coupa Software rose 13% after posting earnings that beat expectations in the latest quarter, as well as outlining strong earnings and revenue guidance for the full year.
ChargePoint: ChargePoint rose 8.2% after Credit Suisse initiated coverage of the electric vehicle charging station operator with a buy rating, saying the stock could rise about 50% from here. The company’s analyst said ChargePoint stations should get a boost from favorable regulatory policies in the US.
Gitlab: Shares rose 6.7% after the software developer reported a smaller-than-expected loss in its most recent quarter. Gitlab also issued better-than-expected third-quarter guidance.
Pinterest: The social media stock rose 4.6% after Wolfe Research upgraded it to outperform. The company touted Pinterest’s new CEO, which analysts say could improve execution of the company’s long-term user and monetization goals.
Twitter: Shares of Twitter rose 4.8% after a Delaware court blocked Elon Musk’s request to delay a trial centered on his decision to walk away from a $44 billion deal to buy the social media company. The court, however, said it would allow Musk to add claims from a Twitter whistleblower to his lawsuit.
Starbucks: Shares in the coffee chain rose 3% after Barclays said there were buying opportunities for the stock ahead of its upcoming investor day. Barclays said in a note to clients that it has confidence in incoming Starbucks CEO Laxman Narasimhan.
Petco Health and Wellness: Shares of the pet products retailer rose 4.5% after RBC initiated coverage with an outperform rating. Analysts noted that much of the weakening consumer environment is already reflected in the stock price and believe that Petco is well positioned to take part in the US pet category “given its strategy of reviewed company, its structurally advantageous real estate portfolio and vet expansion opportunity.”
Baker Hughes – Energy stocks fell as oil prices fell to seven-month lows, with Brent crude futures and US West Texas Intermediate crude futures falling more than $3 each. Baker Hughes shares fell 3.2%. Halliburton declined 2.5% and Occidental Petroleum and Marathon Oil declined 2.1%.
– CNBC’s Jesse Pound, Samantha Subin, Michelle Fox Theobald contributed reporting.
