Cars are parked in front of a Dick’s sporting goods store in the Monroe Marketplace in Pennsylvania.
Paul Weber SOPA images | flare | Getty Images
Check out the companies making headlines on Wednesday afternoon.
Dick’s Sporting Goods – Shares of the sporting goods retailer rose 9.7%, even though the company lowered its outlook for the year after the retailer beat earnings and sales estimates for its first quarter. Dick CEO Lauren Hobart said she was confident the company could adjust “quickly” to uncertain macroeconomic conditions.
Express – Shares gained 6.7% after the clothing retailer reported better-than-expected quarterly results. Express lost 10 cents a share on an adjusted basis. That’s less than the 15 cents a share loss analysts were expecting, according to Refinitiv. Revenue also beat consensus guidance, and Express raised its full-year comparable revenue guidance.
Wendy’s – The fast-food chainsaw rose 9.8% after a filing revealed that Trian, Wendy’s largest shareholder, is exploring a possible deal with the company. Trian, along with its partners, owns a 19.4% stake in the burger chain and said it is seeking a deal to “add shareholder value” that could include a takeover or merger.
Dell Technologies – Shares rose 5.9% after Evercore included the PC maker on its “Tactical Outperform” list. Dell will announce the results on Thursday.
Nordstrom — Shares of the department store rose 14% after the company reported first-quarter sales that beat analysts’ estimates. Nordstrom also raised its full-year financial outlook, citing momentum in the business.
Intuit – Shares rose 8.2% after the tax software company beat earnings expectations and raised its outlook for the current quarter. Intuit also benefited from strong performances from some of its brands, including Credit Karma.
Toll Brothers — Shares of the construction company plummeted nearly 8% after Toll Brothers beat expectations for the fiscal second quarter. The company reported earnings per share of $1.85 on sales of $2.19 billion. Analysts polled by Refinitiv were expecting $1.54 per share on revenue of $2.06 billion. Toll CEO Douglas Yearley said in a press release that demand has slowed over the past month but still appears healthy over the long term.
Urban Outfitters – Urban Outfitters gained 15.5% despite a weaker-than-expected first-quarter report. Like other retailers, Urban Outfitters highlighted the negative impact of inflation on its operations, including higher raw material and transportation costs.
Porch Group – Shares rose 5.7% after Compass Point began reporting on the real estate technology company with a buy rating. The company said Porch has a “unique business model”.
Diamondback Energy – Energy stocks rose 4.4% after Barclays upgraded Diamondback from equal weight to overweight. Barclays said it sees “rising cash yields” for Diamondback in the second half of the year.
– CNBC’s Jesse Pound, Yun Li, Tanaya Macheel and Sarah Min contributed coverage.