Finance News

Shares That Make The Largest Strikes At Noon: Ulta, Coca-Cola, DraftKings & Extra

Pedestrians walk past an Ulta Beauty Store in New York.

Gabby Jones | Bloomberg | Getty Images

Check out the companies that are making headlines in midday trading.

Ulta Beauty – The retailer's shares rose 6% after the company's earnings beat expectations for the second quarter. Ulta made 14 cents a share during that period, compared to the 6 cents earnings analysts surveyed by Refinitiv. E-commerce sales more than tripled compared to the previous year.

Coca-Cola – Coca-Cola's shares rose 1.6% after the beverage giant announced a workforce restructuring plan. Coke said it would offer voluntary layoff packages for employees. On the operational side, nine new business areas will replace 17 business areas and focus on scaling new products faster and avoiding duplication.

Big Lots – Big lots fell 9% in midday trading despite better-than-expected earnings and sales results. While sales in like-for-like stores rose a robust 31.3%, CEO Bruce Thorn said sales could have been strong without tight inventory levels. "We made a lot more revenue in the second quarter than we did a year ago, but we just couldn't fully keep up with revenue trends," he said on the earnings conference call. "There were some sales dollars that we probably left on the table."

DraftKings – DraftKings stocks fell as much as 5% in midday trading after Morgan Stanley downgraded the gambling company from overweight to equal weight. The broker said the stock's 260% surge this year is valid, but fears the launch of Barstool's sports app could steal market share. The uncertainty about the upcoming NFL season, in addition to the already canceled sporting seasons, could also act as a headwind, said Morgan Stanley.

Dell – Technology stock rose 5% after the company reported better-than-expected results in the second quarter. Dell reported adjusted earnings per share of $ 1.92 and revenue of $ 22.7 billion, only a 3% decrease from the year-ago period despite the pandemic. Analysts surveyed by Refinitiv looked for earnings of $ 1.40 per share and revenue of $ 22.52 billion.

Business Day – Workday shares rose more than 11% after the personal and cloud software company reported better-than-expected quarterly results. Workday earned 84 cents per share in the second quarter, above expectations of 88 cents per share per FactSet. Workday also increased its fiscal 2021 revenue guidance and announced a new co-CEO.

MGM Resorts International – The hotel and casino operator saw its stake rise more than 5% after telling 18,000 previously leave employees that their split would be permanent. MGM has been hampered by declines in tourism and travel as well as capacity reductions in its venues and declines in conference and group business.

– CNBC's Pippa Stevens, Jesse Pound and Yun Li contributed to the coverage.

Subscribe to CNBC PRO for exclusive insights and analysis as well as live business day programs from around the world.

Related Articles