The Docusign Inc. website on a laptop installed in Dobbs Ferry, New York, USA on Thursday, April 1, 2021.
Tiffany Hagler Gear | Bloomberg | Getty Images
Find out which companies are making headlines in the midday business.
Campbell Soup – The food company saw its shares gain 1.5% after releasing a better than expected quarterly report. Campbell posted adjusted earnings of 70 cents per share, 9 cents above Refinitiv consensus estimates. Sales also beat forecasts and Campbell raised its sales outlook for the full year. The company reiterated its earlier earnings forecast, noting that it now expects core inflation to be higher than its previous outlook.
Ollie’s Bargain Outlet — Shares of the discount retailer jumped 4.7% even after a disappointing earnings report. Ollie’s posted first-quarter earnings of 20 cents per share, missing a FactSet estimate of 30 cents. Chief executive John Swygert said the company has yet to take full advantage of lower consumer prices in the face of inflationary pressures.
Modern — Shares of the drugmaker rose about 2.2% after a study showed an improved version of the company’s coronavirus vaccine produced a better immune response against the omicron variant. Moderna expects the vaccine to be licensed by late summer.
western digital — The tech stock fell more than 4.1% after Western Digital said it reached a deal with activist investor Elliott Management, which was seeking to break up the company. Western Digital said it was examining strategic alternatives, including a possible spin-off of its flash memory and disk drive businesses.
Credit Suisse, State Street — Shares fell 1% after a report that State Street was planning a takeover bid for the Swiss bank. State Street shares fell about 5.5%.
DocuSign — Shares of the e-signature company rose 2.7% after news that DocuSign is expanding its partnership with Microsoft.
To affirm — Shares of the buy now, pay later company fell 4.2% after Wedbush launched Affirm with an underperforming rating. Wedbush cited increasing competition in the space, slowing e-commerce sales and rising financing costs.
Altria Group — The tobacco stock fell 8.4% after Morgan Stanley downgraded Altria Group to an underweight rating from an equal weight. “We expect greater pressure from higher gasoline prices and weaker consumer sentiment, which should weigh on cigarette volumes and increase downside risk in trade,” Morgan Stanley said.
dutch brothers — The coffee chain saw its shares fall 2.5% after JPMorgan downgraded the stock to a neutral rating due to its overweight position. “Dutch Bros is a discretionary opportunity and an ‘easy’ cut when times feel ‘tighter,'” JPMorgan said.
– CNBC’s Yun Li, Tanaya Macheel and Samantha Subin contributed reporting.
DocuSign, Campbell, Moderna and more
Source link DocuSign, Campbell, Moderna and more