Stocks making the biggest moves midday: Lululemon, Micron, Carnival, Foot Locker & more
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Check out the companies making headlines in midday trading Wednesday.
Lululemon - Shares of the athleticwear company soared more than 13% after the firm reported strong holiday-quarter earnings and revenue that beat Wall Street estimates. Lululemon also issued upbeat guidance for its new fiscal year.
Micron Technology — The semiconductor manufacturer added 5.3% after management said it was planning a bigger headcount reduction than previously expected. That helped investors overlook Micron's misses on both the top and bottom lines, according to Refinitiv. The company reported a loss of $1.91 per share, larger than the loss of 86 cents per share anticipated. Revenue came in at $3.69 billion, slightly lower than the $3.71 billion expected.
Carnival — Shares gained 3.6% after being upgraded by Susquehanna to positive from neutral. The Wall Street firm said it sees EBITDA recovery for the cruise operator into 2024. The move comes a day after the stock gained 6.1% following an upgrade by Wells Fargo to equal weight from underweight.
UBS — U.S.-listed shares of the European bank rose 4.2% after UBS announced that former CEO Sergio Ermotti would return to help the bank manage the acquisition of Credit Suisse. Ermotti previously helped restructure UBS in the aftermath of the global financial crisis.
Emergent BioSolutions — Shares of Emergent BioSolutions added 3.8% after the FDA approved over-the-counter sales of the company's Narcan nasal spray, used to treat opioid overdoses.
Lucid — The electric vehicle maker declined 2.5%, a day after a report from Insider detailed news of roughly 1,300 planned layoffs at the company, which equates to roughly 18% of its workforce.
Cal-Maine Foods — The egg producer and
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