Check out the companies making headlines in midday trading. Scholastic — Shares tumbled about 12% after the publisher and distributor of children’s books reported a 4% year-over-year decline in revenue for the fiscal second quarter, citing headwinds in the retail market. Quanex Building Products — The window and door screen manufacturer slid nearly 9% despite posting fourth-quarter earnings that exceeded analysts’ expectations. However, the company abstained from giving “premature” guidance, instead promising to revisit the topic next year during first-quarter earnings. Tractor Supply — Shares slipped 2.3% following a Bank of America downgrade to underperform from neutral. The bank said demand and pricing challenges would hurt the retailer’s earnings and investor sentiment. Elanco — The veterinary products company gained 2.5% after Bank of America upgraded shares to overweight from equal weight. Bank of America thinks Elanco has a promising pipeline in 2024 from several pending product approvals. STMicroelectronics — Shares of the semiconductor company added 2% after a UBS upgrade to buy from neutral. The bank said near-term and midterm headwinds had already been priced in at the stock’s current valuation. CyberArk Software — The software company rallied 1.6% after Jefferies initiated its stock at a buy, citing a well-positioned stance in a sizable market. Roku — Shares of the streaming media company dropped nearly 4% after MoffettNathanson downgraded th …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading. Scholastic — Shares tumbled about 12% after the publisher and distributor of children’s books reported a 4% year-over-year decline in revenue for the fiscal second quarter, citing headwinds in the retail market. Quanex Building Products — The window and door screen manufacturer slid nearly 9% despite posting fourth-quarter earnings that exceeded analysts’ expectations. However, the company abstained from giving “premature” guidance, instead promising to revisit the topic next year during first-quarter earnings. Tractor Supply — Shares slipped 2.3% following a Bank of America downgrade to underperform from neutral. The bank said demand and pricing challenges would hurt the retailer’s earnings and investor sentiment. Elanco — The veterinary products company gained 2.5% after Bank of America upgraded shares to overweight from equal weight. Bank of America thinks Elanco has a promising pipeline in 2024 from several pending product approvals. STMicroelectronics — Shares of the semiconductor company added 2% after a UBS upgrade to buy from neutral. The bank said near-term and midterm headwinds had already been priced in at the stock’s current valuation. CyberArk Software — The software company rallied 1.6% after Jefferies initiated its stock at a buy, citing a well-positioned stance in a sizable market. Roku — Shares of the streaming media company dropped nearly 4% after MoffettNathanson downgraded th …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
