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Check out the companies that are trending in intraday trading.
Trimble — The technology services provider soared about 6.4% Thursday on good business conditions. announcement AGCO Corporation announced it will acquire an 85% stake in Trimble’s agribusiness for $2 billion in cash, as the tractor and seeding equipment company looks to expand its precision agriculture portfolio.
DigitalBridge — The digital infrastructure company’s stock rose 5.8% after JPMorgan upgraded the company from neutral to overweight. The company said Digital Bridge’s business transformation is nearly complete.
Jefferies Financial Group — The financial services stock rose more than 2% even as the company’s third-quarter profit took a hit due to a slowdown in deal closings. After the market closed on Wednesday, Jefferies posted a profit of 22 cents per share on revenue of $1.18 billion. Still, the company’s CEO expressed optimism that momentum in investment banking will return.
Duolingo — The stock rose 4.5% after UBS initiated coverage of Duolingo on Wednesday with a buy rating, calling it a “best-in-class brand.”
Host Hotels & Resorts — Shares rose 3.8% Thursday after Wolf Research initiated coverage of the real estate investment trust with an Outperform rating. The company has set a price target for the company at $22.
Workday — Shares plunged 8.6% the next day after the cloud services company lowered its long-term subscription growth target from a previous 20% target to a range of 17% to 19%.
Accenture — Shares of the IT and consulting company fell nearly 5% Thursday after Accenture reported mixed fourth-quarter results. The company reported adjusted earnings of $2.71 per share on revenue of $15.99 billion. Analysts had expected sales of $2.65 per share on revenue of $16.07 billion, according to FactSet. The company’s full-year outlook for profits and operating cash for the next fiscal year also fell short of expectations, according to Street Accounts.
Micron — The company’s stock fell 2.7% the next day after the company announced lower-than-expected earnings estimates. Micron expects an accounting loss of $1.07 per share in the first quarter, compared with the 95 cent loss expected by analysts polled by LSEG (formerly Refinitiv). For its fiscal fourth quarter, the company reported a higher-than-expected loss and higher-than-expected revenue.
Peloton — Peloton rose 7% on Thursday. Peloton and Lululemon announced a five-year strategic partnership on Wednesday. As part of the deal, Peloton content will be available on Lululemon’s exercise app, and Lululemon will become Peloton’s primary sports apparel partner.
CarMax — Shares fell 9.5%. The used car retailer’s second-quarter results and sales fell year-on-year due to weak demand for used cars. The company reported earnings of 75 cents per share on sales of $7.07 billion, and vehicles purchased from consumers and dealers fell 14.9% from a year earlier as a sharp market decline reduced sales volumes. did.
Concentrix — Shares rose 10% after Concentrix announced a 10% increase in its quarterly dividend to about 30 cents per share. Separately, Concentrix’s adjusted earnings were $2.71 per share on revenue of $1.63 billion, but analysts surveyed by FactSet said Concentrix’s adjusted earnings per share were $2.85. , had expected sales to be $1.64 billion.
—CNBC’s Jesse Pound and Christina Cheddar-Berk contributed reporting.