Business

GameStop, Adobe, General Mills and more

The General Mills logo appears on a box of Raisin Nut Bran cereal at Scotty’s Market on September 20, 2017 in San Rafael, California.

Justin Sullivan | Getty Images News | Getty Images

Check out the companies with headlines in the midday trade.

Shares of Adobe – a computer software company fell 10% at noon. Adobe made a profit, but reported a weak outlook. The company expects to raise $ 75 million for its business due to the conflict between Russia and Ukraine. In the first quarter, Adobe earned estimates of 3 cents, and adjusted quarterly earnings reported $ 3.37 per share.

General Mills – Food stock prices rose 2.5% at noon. General Mills reported better-than-expected quarterly earnings and raised expectations for the full year. The company earned an adjusted 84 cents per share, 6 cents more than the consensus estimate.

Poshmark – Online clothing market shares rose 4.6% a day since the company saw slightly lower-than-expected losses and surpassed earnings in the last quarter. Poshmark also reported a weaker-than-expected policy for the current quarter, which led to an early shift in stocks.

Winnebago – The shares of the recreational vehicle manufacturer fell 10% at noon. Winnebago reported adjusted quarterly earnings of $ 3.14 per share, with analysts exceeding the consensus of $ 2.94.

GameStop – Meme shares rose 13% in trading at noon on Wednesday after GameStop president Ryan Cohen bought 100,000 more shares on Tuesday. Cohen’s retail share of video games rose to 11.9%.

Tilray Brands, Aurora Cannabis – Cannabis shares rose in midday trading after announcing two major acquisitions in the industry. Cresco Labs will acquire Columbia Care under a $ 2 billion deal, according to Reuters. Aurora Cannabis said it is buying TerraFarma under a $ 38 billion deal. Tilray rose 3.5% and Aurora Cannabis 1%.

Octa – Octa’s shares fell by more than 8% on the day the digital authentication company said it had found no evidence of ongoing malicious activity following a hacker breach that affected 366 customers. Octave said the hackers only got limited access.

Boeing ‘s aerospace share lost 2.4% on Wednesday, largely eliminating the rebound on Tuesday as investors continued to monitor the investigation into a plane crash in China. They found one of the two black boxes on the flight, which could reveal the cause of the accident, according to Chinese state media.

Mosaic Company – Mosaic Company shares rose 2.7% at noon. The fertilizer stock continues to be popular among investors who see big profits for the company after the absence of the Russia-Ukraine conflict.

– CNBC’s Tanaya Macheel, Jesse Pound and Samantha Subin contributed to the report.

GameStop, Adobe, General Mills and more

Source link GameStop, Adobe, General Mills and more

Back to top button