By Steve Goldstein and Emily Bary
Nordson stock reversed course on Wednesday after a large slide on Tuesday
Here are some stocks that made the biggest moves in Wednesday’s session as the S&P 500 heads higher early in the afternoon.
Charles River Laboratories (CRL) shares fell 13% after the company warned that a shortage of monkeys for scientific testing would weigh on this year’s earnings and earnings. Charles River said it voluntarily halted shipments from Cambodia following a Justice Department investigation into Cambodia’s nonhuman primate supply chain.
Shares of Keysight Technologies Inc. (KEYS) shed about 14% on Wednesday lunchtime and were on track for their biggest one-day percentage decline on record, according to Dow Jones Market Data. The company’s revenue outlook for the fiscal second quarter fell short. The stock was on track to become the biggest loser in the S&P 500 index.
Shares in CoStar Group (CSGP) fell nearly 5% after the company ended talks to buy Realtor.com from News Corp. The company also reported worse than expected results. Class B shares of News Corp (NWSA), which owns MarketWatch, the publisher of this report, fell about 3%.
Baidu shares (BIDU) reversed course, falling about 4% during midday trade after rising as much as 7.4% at the start of the session. The drop comes despite an upbeat revenue forecast from the Chinese search engine provider, which also announced a $5 billion share buyback plan.
Palo Alto Networks (PANW) shares were up 11% as the cybersecurity company beat earnings expectations and raised guidance.
ZipRecruiter (ZIP) stock plunged 24% after the jobs platform reported earnings fell in January as employers slowed hiring.
Shares in natural gas exploration company EQT Corp. (EQT) were the leading S&P 500 gainers on Wednesday, gaining 6% on a strong day for natural gas stocks. Southwestern Energy Co. (SWN) shares are up more than 4%, while Antero Resources Corp. shares are up more than 4%. (AR) up more than 3%.
After a steep decline in Nordson Corp. (NDSN) in Tuesday’s session, rallied about 5% on Wednesday. KeyBanc Capital Markets analyst Jeffrey Hammond upgraded the stock from sector exposure to overweight following the sell-off, saying earnings expectations are now “risk-free.”
Caesars Entertainment Inc. (CZR) shares were also up 5%. Chief Executive Thomas Reeg said on the conference call that “It’s hard to express just how strong Vegas is right now.”
Shares of Vertiv Holdings LLC (VRT), which provides data center equipment and services, rose about 7% after the company issued an upbeat outlook.
Fiverr International Ltd shares (FVRR), which helps freelancers find jobs, surged 18% after the company slightly beat expectations for its adjusted earnings. Wix.com Ltd. (WIX) jumped 14% after the web-building tools maker also comfortably beat adjusted earnings expectations.
Brink’s Co. (BCO) also beat earnings expectations, helping the stock surge 11%. Wingstop Inc. (WING) shares rose 7% after the company posted better-than-expected fourth-quarter results of its own.
Intel Corp. (INTC) tumbled more than 1% after the company said it would cut its quarterly dividend by 66% to 12.50 cents a share. “The decision to lower the quarterly dividend reflects the board’s deliberate approach to capital allocation and is intended to best position the company to create long-term value,” the company said in a press release.
(ENDS) Dow Jones Newswires
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