Stocks making the biggest moves midday: Walgreens Boots Alliance, Levi Strauss, International Paper and more

by | Jun 27, 2024 | Financial

Check out the companies making headlines in midday trading: Walgreens Boots Alliance — The stock plummeted more than 24.5% after the retail company reported third-quarter earnings results that missed Wall Street’s expectations . The company also announced a cut to its full-year adjusted profit outlook and said it would close stores that are underperforming as a way to cut costs. Shares of CVS fell more than 4% in sympathy. Levi Strauss — The denim maker’s stock tumbled 17.1% after revenue came in at $1.44 billion for the second fiscal quarter. That is slightly below the consensus forecast of $1.45 billion from analysts polled by LSEG. International Paper — Shares of the paper manufacturing company fell nearly 8% following the news that Suzano is no longer pursuing a potential acquisition of the company. Suzano said it believes it had reached the maximum price for the transaction to general value without receiving any response from the other party. Hims & Hers Health — The telehealth stock moved 10.3% lower after Hunterbrook Media published a report discussing alleged issues about the company’s sale of weight loss drugs. Hunterbrook Capital, a hedge fund Hunterbook is affiliated with, has a short position in the company’s shares. RH — The furniture company popped 5.6% after it announced that CEO Gary Friedman completed the purchase of $10 million worth of shares at an average …

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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading: Walgreens Boots Alliance — The stock plummeted more than 24.5% after the retail company reported third-quarter earnings results that missed Wall Street’s expectations . The company also announced a cut to its full-year adjusted profit outlook and said it would close stores that are underperforming as a way to cut costs. Shares of CVS fell more than 4% in sympathy. Levi Strauss — The denim maker’s stock tumbled 17.1% after revenue came in at $1.44 billion for the second fiscal quarter. That is slightly below the consensus forecast of $1.45 billion from analysts polled by LSEG. International Paper — Shares of the paper manufacturing company fell nearly 8% following the news that Suzano is no longer pursuing a potential acquisition of the company. Suzano said it believes it had reached the maximum price for the transaction to general value without receiving any response from the other party. Hims & Hers Health — The telehealth stock moved 10.3% lower after Hunterbrook Media published a report discussing alleged issues about the company’s sale of weight loss drugs. Hunterbrook Capital, a hedge fund Hunterbook is affiliated with, has a short position in the company’s shares. RH — The furniture company popped 5.6% after it announced that CEO Gary Friedman completed the purchase of $10 million worth of shares at an average …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
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