Here are some of the companies making headlines in midday trading. Tyson Foods — Shares dropped nearly 7% after the food company slashed full-year guidance, citing beef pressures. Tyson now expects fiscal 2026 adjusted operating income of $1.85 billion to $2.05 billion, down from a prior $2.1 billion to $2.3 billion. Full-year revenue growth is pegged at 1.5% to 2% compared with prior guidance of 2.5% to 3.5%. Meta Platforms — The stock rose 3% following the rollout of the Instagram parent’s artificial intelligence model Muse Spark 1.3. Dell Technologies — Shares of the maker of laptops and servers rose for a second day, climbing 5% in midday trading. Earlier this week, Dell posted quarterly results that topped estimates on the top and bottom lines and lifted its fiscal 2027 forecast. Coinbase , Strategy — Companies tied to cryptocurrency saw shares rise after bitcoin jumped more than 4% to trade above $80,000. At one point, the flagship crypto asset touched its highest level since May 15. Shares of crypto trading platform Coinbase advanced 10%, and shares of bitcoin treasury company Strategy gained 13%. Riot Platforms ‘ stock added 11%. Robinhood — Shares of the trading app jumped 15% after Deutsche Bank issued a report pointing to prediction market tail winds for brokers, asset managers and exchanges. The bank thinks company financial key performance indicator contracts could offer the strongest potential for growth in prediction markets, and sees Robinhood as a beneficiary. Ciena — The optical networking company’s stock slumped 9%. Revenue guidance for the fiscal year ending in October came in at $6.42 billion, plus or minus $50 million, compared with the FactSet consensus of $6.34 billion. The outlook overshadowed top and bottom line third-quarter results that topped Street estimates. Tesla — The electric vehicle maker’s stock advanced more than 6% ahead of the company’s Cybercab event slated for after the close. Tesla is set to launch a two-seater robotaxi at an event in Austin, Texas, Thursday evening. Shares of SpaceX, Elon Musk’s space company, also rose nearly 6% in sympathy. Snowflake — Shares surged almost 22% after second-quarter results topped analyst expectations. For the quarter, Snowflake posted adjusted earnings of 62 cents per share on revenue of $1.55 billion. Analysts surveyed by LSEG had anticipated 45 cents in earnings per share and $1.48 billion in revenue. Snowflake also raised full-year product revenue guidance. Software stocks — Snowflake lifted software peers. Datadog ‘s stock jumped more than 2%, while shares of ServiceNow were up by almost 6%. Salesforce ‘s stock rose just over 3%. Hewlett Packard Enterprise — The enterprise technology company’s stock slipped 4%. HPE is calling for earnings growth of 16% to 20% for the fiscal year ending October 2027, while the FactSet consensus estimated an 18.7% increase. Cash flow for the period is expected to reach at least $5 billion, versus the Street’s forecast for $4.79 billion. Broadcom — The chipmaker’s stock lost 3% as investors responded negatively to a fourth-quarter revenue forecast of $34.8 billion compared with a $35.03 billion consensus estimate. Fourth-quarter non-GAAP operating margin projections came in at 66%, below the 66.5% estimate. Broadcom reported revenue of $29.59 billion for the third quarter and adjusted earnings of $3.32 per share. Campbell’s Co. — The food and beverage company’s stock fell 9% after earnings guidance for the fiscal year 2027 lagged expectations. Campbell’s expects earnings of between $1.65 and $1.80 per share in fiscal 2027, excluding one-time items, compared with a FactSet consensus for $1.83 per share, and forecast revenue growth to contract at a faster rate than expected. Ultragenyx Pharmaceutical — Shares plunged 44% after Ultragenyx reported that Phase 3 trial results for its drug to treat Angelman syndrome, a rare genetic neurodevelopmental disorder, did not achieve its primary end point. The company said it was disappointed in the result and will evaluate the program to develop the drug, and implement significant cost reductions. Moderna — Shares were off more than 4% after the vaccine maker was downgraded by Rothschild & Co Redburn to sell. Analysts said the stock, after a huge surge following the success in a trial of its experimental cancer vaccine for melanoma, is now overvalued. Argan — The engineering and construction stock rallied 4% after Argan posted better-than-expected second-quarter earnings and revenue. Argan earned $3.76 per share, above the $2.64 per share that analysts polled by FactSet had estimated. Revenue of $384 million beat analysts’ consensus forecast of $300.5 million. Victoria’s Secret — Shares sank more than 13% after Victoria’s Secret missed revenue estimates for the second quarter. Guidance for operating income in the current quarter missed expectations, according to analysts polled by FactSet, but the company’s forecast for full-year revenue matched estimates. Adjusted earnings for the second quarter beat expectations. Netskope — Shares of the cybersecurity company surged 12%. Netskope sees full-year revenue of $888 million to $892 million, above the LSEG consensus estimate of $881 million. Netskope forecast an adjusted loss of 15 cents a share for the period, below analysts’ consensus estimated loss of 18 cents per share. NetApp — The data infrastructure company shed 8%. NetApp forecast fiscal second-quarter non-GAAP gross margin of 67% to 68%, down from 70.6% reported for the first quarter, and second-quarter non-GAAP operating margin of 30.9% to 31.9% versus an actual 31.9% in the last quarter. Deferred revenue in the first quarter totaled $4.85 billion, short of the $4.86 billion StreetAccount consensus estimate. — CNBC’s Michelle Fox, Nick Wells, Sean Conlon and Tobias Burns contributed reporting.
