Check out the companies making headlines in midday trading. Oracle — The software provider tumbled 11% on Tuesday, a day after reporting lower revenue than analysts expected for the fiscal second quarter . Oracle posted $12.49 billion, below the consensus estimate of $13.05 billion from analysts polled by LSEG. Lucid Group — Shares of the electric vehicle company slid more than 9%. On Monday, Lucid Group announced that chief financial officer Sherry House is stepping down, effective immediately. Centene — Shares popped more than 3% after Centene raised its fiscal 2024 earnings guidance and authorized a $4 billion increase to its stock repurchase program. The health insurer anticipates adjusted diluted earnings of greater than $6.70 per share. Johnson Controls — The building technology stock dropped 7% following a weaker-than-expected earnings report. The company earned an adjusted $1.05 per share, including a 4-cent headwind tied to a cyber incident, and $6.91 billion in revenue. That underwhelmed analysts polled by FactSet, who forecasted $1.09 per share and revenue at $7.1 billion. Airbnb , Expedia — Barclays downgraded the travel stocks, citing a more cautious outlook for the industry in 2024 as softening demand dampens consumer spending budgets. Both Airbnb and Expedia slumped more than 2% each. Hasbro — The toymaker shed roughly 2% a day after announcing about 1,100 workers would be laid off. The move comes as Hasbro struggles with soft sales that have continued into the holiday shopping period, the company said in a memo. Macy’s — Shares of the department store tumbled 5% after Citi downgraded the stock to sell from neutral. The Wall Street firm said Macy’s recently received $5.8 billion buyout offer could be difficult to finance given the interest rate environment and the secular challenges Macy’s faces. Zillow Group — Shares advanced 3% on the back on an upgrade to outperform from market perform by JMP. The firm said the stock should be…
2023-12-12 13:12:00
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