Here are some of the bigger stock movers on Wednesday’s:
Shares of Urban Outfitters Inc.
jumped 16% in midday trading after the retailer reported better-than-expected quarterly profit and sales in its first quarter.
Kohl’s Corp.‘s stock
leapt more than 8% after the department-store chain reported a surprise fiscal first-quarter profit, even as sales fell a bit below forecasts.
Abercrombie & Fitch Co. shares
rocketed 26%, after the specialty apparel and accessories retailer reported a surprise fiscal first-quarter profit, amid strength in its Abercrombie brand.
Palo Alto Networks Inc. shares
rose 9% after the cybersecurity company turned in another beat-and-raise quarter and its CEO Nikesh Arora forecast the software industry would be transformed by AI over the next 12 to 24 months.
Shares of Petco Health & Wellness Co. Inc.
tumbled 19% after the pet food and health products company beat first-quarter profit and revenue expectations, but only maintained its full-year outlook as it continues to see uncertainty in the discretionary environment.
Children’s Place Inc.’s stock
plunged 20% after the kids apparel retailer posted a wider-than-expected first-quarter loss and sales that lagged estimates.
Agilent Technologies Inc.‘s stock
sank 8% after the lab-equipment maker cut its full-year outlook to reflect “increased market uncertainties.“
PacWest Bancorp shares
fell 1.6%, reversing an earlier intraday gain of as much as 3.3%, after the Beverly Hills, Calif.-based regional bank said it will sell its real-estate lending arm to Roc360 for an unspecified sum, as the beleaguered regional bank moves to refocus on its core business. The stock’s decline was part of a broader pullback in the regional bank sector, as the SPDR S&P Regional Banking exchange-traded fund
Intuit Inc. stock
dropped more than 7% after the Turbo Tax parent reported a narrow revenue miss for its fiscal third quarter, and raised guidance.
Express Inc. shares
slumped 19%, after the clothing retailer posted a wider-than-expected first-quarter loss and weaker-than-expected sales, amid an environment of reduced consumer spending, increased price sensitivity in discretionary categories and aggressive promotional activity.
The Vita Coco Co. Inc.’s stock
fell 3%, after shareholder Verlinvest Beverages SA. upsized a secondary offering, selling 5 million shares priced at $23 each, up from original plans to offer 4.5 million shares. The stock closed Tuesday at $24.56.
Sarepta Therapeutics Inc. said the U.S. Food and Drug Administration has indicated after talks with the company that it’s working toward granting accelerated approval of SRP-9001, its latest treatment for Duchenne muscular dystrophy, or DMD, but the stock
fell 11% in midday trading.