Stocks making the biggest moves midday: Gap, Ross Stores, Tenet Healthcare and more

by | Nov 17, 2023 | Financial

Check out the companies making headlines in midday trading. Gap — The apparel retailer saw shares surge 30% after it posted fiscal third-quarter results late Thursday that beat Wall Street’s estimates due to strong sales at Old Navy and improvements at its namesake banner. Adjusted earnings of 59 cents per share smashed analysts’ expectations of 19 cents per share, per LSEG. Revenue also beat estimates, coming in at $3.77 billion compared with the $3.6 billion forecast. Spectrum Brands Holdings — Spectrum Brands shares dropped 10% after the home products company forecasted a year-over-year revenue decline for the fiscal year ending September 2024, below a FactSet consensus estimate for a yearly gain of 1.5%. Otherwise, the company topped fiscal fourth-quarter earnings and revenue estimates. ChargePoint Holdings — ChargePoint shares dropped 35% after the electric vehicle infrastructure company on Thursday warned its upcoming third-quarter revenue results would be weaker than it previously anticipated. It now forecasts third-quarter revenue of $108 million to $113 million, lower than prior guidance of $150 million to $165 million. The company also shook up its C-suite, replacing its CEO . Tenet Healthcare — Shares jumped more than 11% after Tenet Healthcare said it would sell three of its South Carolina hospitals to Novant Health. The transaction is valued at about $2.4 billion. Ross Stores — The clothing retailer …

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