Check out the companies making the biggest moves midday: Southwest Airlines — Shares plummeted nearly 14% after the airline announced it was “reevaluating all prior full year 2024 guidance, including the expectation for capital spending,” citing delivery delays from Boeing. Southwest stated that its first-quarter leisure bookings were weaker than expected. The airline also forecast its unit revenue would be flat to up no more than 2% compared to a year earlier, lower than its previous estimate in January of a rise as much as 4.5%. Oracle — The database software stock surged 11% and headed for its best day since December 2021 after posting fiscal third-quarter earnings that topped Wall Street’s expectations. Oracle also reported a 12% increase in revenue within its cloud services and license support segment due in part to a spike in demand for AI servers. 3M — Shares added more than 3% following the company’s announcement that William Brown, the former CEO of L3Harris Technologies, will become the 3M’s new CEO effective May 1. Asana — The stock shed about 11% after the work management platform issued weak full-year revenue guidance. Asana said to expect revenue between $716 million and $722 million, less than the forecast of $725 million estimated by analysts polled by LSEG. Microstrategy — The bitcoin developer gained 3.5% following bullish commentary from Wall Street analysts. …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making the biggest moves midday: Southwest Airlines — Shares plummeted nearly 14% after the airline announced it was “reevaluating all prior full year 2024 guidance, including the expectation for capital spending,” citing delivery delays from Boeing. Southwest stated that its first-quarter leisure bookings were weaker than expected. The airline also forecast its unit revenue would be flat to up no more than 2% compared to a year earlier, lower than its previous estimate in January of a rise as much as 4.5%. Oracle — The database software stock surged 11% and headed for its best day since December 2021 after posting fiscal third-quarter earnings that topped Wall Street’s expectations. Oracle also reported a 12% increase in revenue within its cloud services and license support segment due in part to a spike in demand for AI servers. 3M — Shares added more than 3% following the company’s announcement that William Brown, the former CEO of L3Harris Technologies, will become the 3M’s new CEO effective May 1. Asana — The stock shed about 11% after the work management platform issued weak full-year revenue guidance. Asana said to expect revenue between $716 million and $722 million, less than the forecast of $725 million estimated by analysts polled by LSEG. Microstrategy — The bitcoin developer gained 3.5% following bullish commentary from Wall Street analysts. …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
