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Constellation Brands, Gap, TiVo & more

Constellation Brands, Gap, TiVo & more


Constellation Brands, Gap, TiVo & more

Corona beer, owned by Constellation Brands.

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Check out the companies making headlines midday Friday:

Constellation Brands, Calavo Growers, Chipotle Mexican Grill — Shares of the Corona and Modelo beer marker fell more than 5% as investors worried tariffs on Mexican goods would increase Constellation Brands’ import costs. Calavo Growers and Chipotle, meanwhile fell as the threat of Mexican tariffs stoked fears of higher avocado prices.

Ford, General Motors — Ford and GM were pressured by President Donald Trump’s threat to slap tariffs on Mexican imports. Both Ford and GM have operations in Mexico that could be impacted by such levies. Ford shares declined 2.3% while GM slid 4.3%.

Williams-Sonoma — Williams-Sonoma shares soared 13.4% after the household items retailer reported better-than-expected quarterly earnings. The company posted a profit of 81 cents per share, beating a Refinitiv estimate of 69 cents per share. Same-store sales jumped 3.5%, surpassing the expected 1.7% rise.

Zuora — Shares of Zuora plunged 29.7% after the cloud company gave weak guidance for the current fiscal year. Zuora expects its full-year revenue to range between $269 million and $278 million. A Refinitiv estimate projected $291.1 million in revenue.

Red Robin Gourmet Burgers — Red Robin shares dropped 17.2% after the company reported quarterly earnings that badly missed expectations. The company posted adjusted first-quarter earnings of 19 cents a share. Analysts polled by Refinitiv expected a profit of 49 cents a share.

TiVo — TiVo shares jumped 6.5% after the company hiked its full-year 2019 earnings outlook. The company expects adjusted EBITDA to range between $175 million and $185 million. That’s up from a range of $172 million and $178 million. TiVo also raised its revenue guidance for the year.

Gap — Gap sank 9.3% after the apparel retailer reported first-quarter earnings that missed estimates. The retailer reported earnings of 24 cents per share, 8 cents below a Refinitiv estimate, and revenues of $3.71 billion, falling $60 million short of estimates. Gap also posted a 4% drop in same-store sales, its biggest in three years.

Dell Technologies — Shares of computer company Dell plummeted more than 10.3% after the company’s first-quarter revenue missed expectations. Dell reported revenue of $21.99 billion, missing a Refinitiv estimate of $22.24 billion. The company said it saw demand in China slow down while server sales dropped.

Big Lots — Big Lots rose more than 6% after reporting better-than-expected first-quarter results. Big Lots posted earnings per share of 92 cents on revenue of $1.296 billion. Wall Street estimated earnings per share of 70 cents on revenue of $1.295 billion, according to Refinitiv.

Genesco — Shares of Journey’s owner Genesco surged more than 11% on stronger-than-forecast quarterly results. The retailer earned 29 cents per share on revenue of $495.7 million. Wall Street expected a profit of 29 cents a share on sales of $479.4 million. The company’s same-store sales also crushed expectations, increasing 5%. Analysts expected same-store sales growth of 0.6%.

—CNBC’s Nadine El-Bawab and Maggie Fitzgerald contributed to this report.

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