Stocks making the biggest moves midday: Trump Media, Kura Sushi, Nike and more
Check out the companies making headlines in midday trading. Nike — The athletic apparel giant plummeted 20% after the firm posted fourth-quarter revenue of $12.61 billion, which came below the $12.84 billion forecast by analysts surveyed by LSEG. Nike also reduced its full-year outlook. Trump Media & Technology — Shares of Trump Media & Technology Group declined 11%, reversing an earlier gain on the heels of the first presidential debate between former President Donald Trump and President Joe Biden. Some fundraisers and commentators raised concern over Biden’s performance. Infinera — Shares of the networking solutions supplier rallied 16% after Nokia announced its plans to acquire the company for $2.3 billion. SAP — U.S. shares of the German business software company rose marginally following a BMO Capital Markets upgrade to outperform from market perform. The firm also hiked its price target on the stock, citing confidence in its longer-term potential. Kura Sushi USA — The sushi company plunged 23% after posting disappointing preliminary revenue figures for the third quarter. Kura expects quarterly revenue of $63.1 million, below a StreetAccount estimate of $65.6 million. Kura also lowered its full-year topline outlook. Digital Realty Trust — The real estate investment trust moved 2% higher following an upgrade at JPMorgan to overweight from neutral. The bank said Digital Realty Trust will benefit from artificial intelligence and cloud growth. Synchrony Financial — The financial services company popped 7% following an outperform initiation at Baird. Analyst Brennan Crowley set a price target of $56, implying that shares could rally 27% from their Thursday close. Tractor Supply — The retailer of farming supplies and equipment added 1% after announcing it would be eliminating its DEI roles and withdrawing from its carbon emission goals. — CNBC’s Michelle Fox, Alex Harring and Samantha Subin contributed reporting. This post has been syndicated from a third-party source. View the original article here.
