Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making headlines in midday trading. Today, we are diving into the world of finance and exploring the top movers and shakers in the market.
First up, we have Bath & Body Works, which saw a 14% drop in shares after offering disappointing second-quarter guidance, despite beating first-quarter earnings and revenue estimates. Carnival Cruise Line experienced a 4.8% increase in shares after announcing strategic moves to increase capacity for its flagship brand, Carnival Cruise Line. GameStop, the meme stock sensation, retraced about 5% following a 21% rally on Monday sparked by GameStop champion Keith Gill, also known as “Roaring Kitty.”
The freight industry also saw some action, with Saia experiencing a 7.7% increase in shares after posting higher less-than-truckload shipments per workday for April and May compared to the previous year. This positive momentum was mirrored by fellow freight companies Old Dominion Freight Line and XPO.
In the renewable energy sector, Maxeon Solar Technologies took a hit after Goldman Sachs downgraded the company and slashed its price target. This move was due to concerns over debt restructuring and an equity investment to shore up liquidity.
Energy stocks felt the pressure of a slump in oil prices after OPEC+ announced plans to phase out production cuts. Companies like BP, Exxon Mobil, and Diamondback Energy saw a drop in shares. Similarly, industrials stock Stanley Black & Decker fell 2.8% after a downgrade from Barclays.
Flutter Entertainment, on the other hand, saw a 1.1% rise in shares after Oppenheimer initiated coverage with an outperform rating, citing the company’s structural advantages and top U.S. parlay mix as catalysts. Lastly, Boot Barn climbed nearly 3% after disclosing a surprising increase in same-store sales for the first nine weeks of the fiscal first quarter.
Stay tuned to Extreme Investor Network for more in-depth analysis and expert insights into the ever-changing world of finance. Be sure to subscribe to our newsletter for exclusive updates and investment tips. Happy investing!