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CBS, Palo Alto Networks, Dollar General, Veeva Systems

CBS, Palo Alto Networks, Dollar General, Veeva Systems


CBS, Palo Alto Networks, Dollar General, Veeva Systems

The CBS Television Studios campus in Los Angeles.

Lucy Nicholson | Reuters

Check out the companies making headlines midday Thursday:

CBS, Viacom — CBS and Viacom rose after CNBC’s David Faber reported the CBS board is preparing to hold deal talks with Viacom. CBS climbed 3.2% on the news while Viacom — which owns channels like MTV and Comedy Central — advanced 3.5%.

Dollar Tree — Dollar Tree rose more than 3% on the back of better-than-expected first-quarter numbers. Same-store sales — a key metric for retailers — rose 2.2%, topping a Refinitiv estimate of 2.1%. Revenue was $5.809 billion, higher than the $5.784 billion Refinitiv forecast. Earnings per share came in in line with estimates at $1.14.

Dollar General — Shares of discount retailer Dollar General rose more than 7% and reached a 52-week high after the company posted strong first-quarter results. Dollar General reported revenue of $6.623 billion, topping a Refinitiv estimate of $6.565 billion. The company earned $1.48 per share, beating a forecast of $1.39. Dollar General’s same-store sales increased 3.8%, while Wall Street expected an increase of 2.9%.

Movado — Shares of watch-maker Movado tanked 7.2% after missing on the top and bottom lines of its first-quarter results. Movado reported earnings per share of 24 cents on revenue of $146.5 million. Wall Street estimated earnings per share of 31 cents on revenue of $148.7 million, according to Refinitiv.

Semtech — Shares of the chipmaker fell 7.1% after several analysts cut their price target on the stock following the company’s earnings results. Semtech reported quarterly earnings and revenue that beat analyst expectations, but the company noted the U.S. ban on Huawei weighed on the results. Analysts at Oppenheimer, Stifel, Piper Jaffray, Wells Fargo and B. Riley FBR all lowered their price targets on Semtech.

Veeva Systems — The cloud-computing company’s stock jumped 14.7% after reporting better-than-expected quarterly results and raising its full-year earnings guidance. Veeva Systems posted earnings per share of 47 cents on revenue of $244.8 million. Analysts polled by Refinitiv expected a profit of 44 cents a share on sales of $238.7 million. The company also said it expects full-year earnings to range between $2.01 per share and $2.03.

Gannett — The parent company of USA Today jumped as much as 9.3% and closed 1.6% higher after The Wall Street Journal reported the company was in merger talks with Gatehouse Media.

Keysight Technologies — Software company Keysight Technologies jumped 11.3% after reporting fiscal second-quarter earnings that easily beat expectations. The company posted earnings per share of $1.22. Analysts polled by Refinitiv expected a profit of 98 cents a share.

Palo Alto Networks — Palo Alto Networks shares slid 6% after the cybersecurity company issued guidance for the current quarter that missed expectations. The company said it expects fiscal fourth-quarter earnings to range between $1.41 per share and $1.42. Analysts polled by Refinitiv expected a forecast of $1.54 earnings per share.

PVH — The parent company of Calvin Klein and Tommy Hilfiger plunged more than 13% after cutting its full-year earnings guidance. The company cited slow growth in retail as well as pressure from the U.S.-China trade war. Weak spending in overseas markets was also a contributing factor in PVH slashing its outlook.

Citigroup — Citigroup shares rose as much as 2.4% after an analyst at Goldman Sachs upgraded the stock to buy from neutral. The analyst said Citi has an “upside potential” of 21%. The stock later lost its gains, closing down 0.2%.

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