Stocks making the biggest moves midday: HP, Box, Brown-Forman, Insulet and more
Shares of HP dropped 7% after the company reported a fiscal third-quarter revenue miss, with quarterly revenue of $13.20 billion falling short of estimates.
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Posted 8/30/2023, 4:21:04 PM
cnbc.com
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HP Inc. has reported disappointing earnings due to weak demand for printers and lower-than-expected prices for personal computers, leading to a drop in their stock.
HP's stock dropped 5.6% after posting lower-than-expected revenue for the fiscal third quarter, while PVH's stock climbed 2.6% on strong financial results and an improved outlook.
HP Inc.'s stock dropped 10.7% in after-hours trading following mixed financial results and a cautious outlook, with CEO Enrique Lores noting that the external environment has not improved as expected and PC pricing has been a challenge, but the availability of AI products in late 2024 is expected to boost sales.
Shares of HP Inc., the maker of personal computers and printers, are falling as the company cuts its earnings outlook, but this short-term pain could lead to long-term gains.
Shares of Tesla Inc. dropped 5.0% after the company reduced prices in China for the second time in two weeks, despite experiencing overall volatility this year.
C3.ai Inc. shares dropped 8% in after-hours trading following the release of quarterly results, despite the company's positive performance and CEO's statement on strong traction with enterprise AI applications.
Oracle shares dropped by about 5% in extended trading after the company reported slightly lower-than-expected fiscal first-quarter revenue, although earnings per share were better than anticipated.
Berkshire Hathaway has sold 5.5 million shares of HP, potentially indicating more stock sales to come.
Starbucks Corp. shares dropped by 2.16% as the stock market took a hit, resulting in their third consecutive day of losses.