Check out the companies making headlines in midday trading: VF Corporation — Shares jumped more than 22%. The North Face and parent JanSport’s quarterly results beat Wall Street expectations for the fiscal second quarter. VF Corporation posted adjusted earnings of 60 cents per share on revenue of $2.76 billion. That’s above the 37 cents a share in earnings and $2.71 billion in revenue that analysts polled by LSEG were expecting. Cadence Design Systems – Shares in the electronics design company added more than 10% after better-than-expected third-quarter results. Cadence reported adjusted earnings of $1.64 per share on revenue of $1.22 billion, while analysts polled by LSEG called for earnings of $1.44 per share and revenue of $1.18 billion. The firm also raised the midpoint of its full-year non-GAAP earnings per share forecast. F5 — Cloud services stock advanced 11%. F5 posted adjusted earnings of $3.67 per share and revenue of $747 million in the fiscal fourth quarter. The results beat the Street’s forecast of $3.45 in earnings per share and $731 million in revenue, for LSEG. BP – Shares traded in the US retreated about 5%. The British oil company reported its weakest quarterly results since 2020. BP reported a replacement cost profit of $2.3 billion in the third quarter, reflecting a decline from $3.3 billion in the year-ago period. Pfizer – The vaccine maker retreated almost 2% despite beating Wall Street estimates at the top and bottom in the third quarter. Pfizer now expects full-year adjusted earnings in a range of $2.75 to $2.95 per share, compared with a previous forecast that called for $2.45 to $2.65 per share. Boot Barn – Shares in the clothing retailer fell more than 19% after fiscal second-quarter earnings of 95 cents per share met Wall Street estimates. The company also said CEO Jim Conroy will step down from the role effective Nov. 22. JetBlue Airways — The airline was down 17% after forecasting a bigger-than-expected decline in revenue for 2024. JetBlue also expects fourth-quarter revenue to fall 3% to 7%, while analysts polled from LSEG predicted a decrease of 1.4%. Trex — The decking materials maker advanced 6% on stronger-than-expected third-quarter results. Trex reported adjusted earnings of 37 cents per share on revenue of $233.7 million, while analysts polled by FactSet had forecast 32 cents per share in earnings and $225.4 million in revenue. Xerox — The printer maker fell nearly 19% after third-quarter results missed the Street’s expectations on the top and bottom lines. The company also cut its free cash flow guidance for the full year. Xerox said it expects a 10% drop in full-year revenue. Crocs – The shoemaker’s stock fell roughly 18% after its fourth-quarter outlook missed analysts’ expectations. Crocs expects adjusted earnings in the range of $2.20 to $2.28 per share in the fourth quarter, while analysts polled by FactSet forecast $2.72 per share. PayPal – Shares fell about 3% after the payments company gave softer-than-expected guidance for the fourth quarter, calling for “low single-digit growth” for the period. PayPal beat third-quarter revenue expectations but missed slightly on revenue. DR Horton – Shares fell 8% after the homebuilder reported earnings of $3.92 per share on revenue of $10.0 billion. That was below LSEG’s consensus estimate of $4.17 earnings per share on revenue of $10.22 billion. The company said rate volatility could keep some buyers on the sidelines in the near term. Corning – Shares added about 8% after the specialty glass company released an upbeat outlook for fourth-quarter revenue and earnings. Corning now forecasts core earnings per share in the range of 53 cents to 57 cents, while analysts polled by FactSet forecast 52 cents. The company also expects underlying revenue of about $3.75 billion in the current quarter, compared to the consensus estimate of $3.67 billion. Royal Caribbean – The cruise operator gained more than 3% after raising its full-year guidance. The company raised its full-year earnings outlook to an expected range of $11.57 to $11.62 per share, compared with a previous forecast of $11.35 to $11.45 per share. Ford Motor — The auto giant fell nearly 9% after guiding on the lower end of its 2024 earnings outlook. Third-quarter revenue and earnings came in ahead of expectations. — CNBC’s Pia Singh, Michelle Fox, Samantha Subin, Sean Conlon and Alex Harring contributed reporting.
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