MDB, PINS, NRG, KTB & more
Check out the companies making headlines in midday trading. AeroVironment — The drone maker’s stock jumped 9% after AeroVironment said it is still in talks with the U.S. Space Force for the SCAR program contract. Negotiations had been paused in order to revise the terms to speed up delivery times. The company said it is working on expanding its Albuquerque, New Mexico, facility to support the growth of its space and directed energy platforms. Pinterest — Activist Elliott Management will invest $1 billion in Pinterest , with the intention of speeding up the company’s stock buy back program. The news sent the social media company’s stock more than 7% higher. Ziff Davis — Shares were up 74% and hit a 52-week high after the internet company announced that it agreed to sell its connectivity division to Accenture for $1.2 billion. The companies expect to close the all-cash transaction in the coming months, according to the release. “This is a transformative deal for Ziff Davis, representing a significant realization of value for our shareholders and a concrete illustration of the quality of the businesses in our portfolio,” said Ziff Davis CEO Vivek Shah. AutoZone — The auto parts retailer fell more than 5% after disappointing fiscal second-quarter results. The company attributed its weak performance to winter storms, which disrupted its business, as well as price pressures from tariffs. NRG Energy — The independent power producer dropped about 8% after a selling shareholder, LS Power, sold 14.3 million shares at $164 each. NRG received no proceeds from the sale. Kontoor Brands — The Helly Hansen and Wrangler parent jumped nearly 15% after its fourth-quarter earnings and revenue topped expectations. Kontoor’s full-year guidance also came in above estimates. The company anticipates adjusted earnings to come in between $6.40 and $6.50 per share for the year. Analysts had expected $5.96 per share. Surgery Partners — Shares tanked nearly 17% and reached a 52-week low after the company issued weak guidance for 2026. Surgery Partners sees full-year revenue ranging from $3.35 billion to $3.45 billion, missing the FactSet consensus call for $3.55 billion. Adjusted earnings in the fourth quarter also fell short of the mark. Cigna — The health insurer’s stock tumbled 5% after the company announced its longtime CEO David Cordani would retire on July 1. Cigna shares have risen nearly 700% during the executive’s tenure, outperforming the S & P 500. Cordani will be replaced by Brian Evanko, who currently serves as president and chief operating officer. Ingram Micro — The technology products distributor soared 18% after fourth-quarter earnings and revenue topped Wall Street analyst estimates, according to FactSet data, accompanied by a 2.5% dividend increase and $100 million buyback authorization. MongoDB — The software developer plunged about 22%. MongoDB said it sees first-quarter adjusted earnings per share of between $1.15 and $1.19 and revenue of between $659 million and $664 million. Analysts polled by LSEG expected earnings of $1.21 per share and $662 million in revenue for the first quarter. Target — The big box retailer jumped about 5% on better-than-expected earnings for the fourth quarter. Target earned an adjusted $2.44 per share, which topped the $2.16 per share analysts polled by LSEG were anticipating. Revenue of $30.45 billion came in just below consensus. Best Buy — The electronics retailer rallied 5% after Best Buy posted adjusted per-share earnings of $2.61 in the fourth quarter, better than the earnings of $2.47 per share analysts polled by LSEG were anticipating. Revenue of $13.81 billion fell short of the consensus estimate of $13.88 billion. On Holding — The Swiss sneaker maker dropped more than 10% after its 2026 guidance disappointed investors . On Holding expects net sales to grow by at least 23% in constant currencies, which, at spot rates, implies sales of at least 3.44 billion Swiss francs. That is short of the consensus estimate of 3.7 billion francs. However, the company reported record sales and improved profitability for 2025 and its fourth-quarter net sales topped expectations. Plug Power — The developer of hydrogen and fuel cells surged more than 15% after Plug Power reported strong sales in its fourth quarter. Plug Power posted an adjusted loss of 6 cents per share for the period, better than the 10 cents per share loss analysts polled by LSEG were calling for. The company’s revenue of $225 million was also higher than the $218 million expected. Credo Technology — The stock dropped more than 18% after the company’s non-GAAP gross margin forecast for its fourth quarter ranged from 64% to 66%, versus the LSEG consensus estimate of 65.1%. Credo, a provider of Ethernet connectivity solutions, beat analysts’ earnings and revenue estimates for its third quarter. Tidewater – Shares gained 7% after Tidewater, which provides offshore service vessels to the energy industry, raised its guidance for the full year . The company is calling for revenue to range from $1.43 billion to $1.48 billion, accounting for its acquisition of Wilson Sons Ultratug Offshore. That’s up from its previous range of $1.32 billion to $1.37 billion. The outlook also beat the FactSet consensus call for $1.36 billion. Archer Aviation – The developer of electric vertical takeoff and landing aircraft saw shares drop more than 12%. Archer is calling for an adjusted loss before interest, taxes, depreciation and amortization ranging from $160 million to $180 million in the first quarter. That’s wider than the FactSet consensus estimate of a loss of $112.1 million. — CNBC’s Sarah Min, Michelle Fox, Darla Mercado, Scott Schnipper, Itzel Franco and Pia Singh contributed reporting
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