Home / Business / Stock that makes the biggest movements at noon: Apple, RH, GameStop, Zscaler

Stock that makes the biggest movements at noon: Apple, RH, GameStop, Zscaler



Traders and economists work on the floor of the New York Stock Exchange (NYSE) at the opening clock on August 15, 2019 in New York City.

Drew Angerer | Getty Images

Check out the companies that make headlines in the midday trade:

Apple – Shares of Apple climbed 2.5% as Wall Street analysts cheer on the surprisingly low pricing of the new iPhone and streaming service. The tech giant unveiled three new iPhones on Tuesday along with a new Apple Watch and a TV subscription service. Bank of America analyst Wamsi Mohan called pricing "compelling", while Barclays analyst Tim Long said "lower pricing is the biggest surprise."

RH ̵

1; Shares of RH jumped 5.4% after the home furnishings retailer posted better-than-expected earnings. RH reported adjusted quarterly earnings of $ 3.20 per share, well above the consensus estimate of $ 2.70. The company's revenue during the second quarter also beat the estimates.

Dave & Buster & # 39; s Entertainment – Shave of Dave & Buster & # 39; s tanked more than 5% after the sports bar and arcade company slashed its year-round guide citation into a "competitive environment." The company also said sales of the same store are expected to decrease by 4% to 5% in the second half of the year.

GameStop – Shares of GameStop tumbled more than 11% after the video game retailer reported disappointment in the second quarter. GameStop lost adjusted 32 cents a share for its second quarter, wider than the 21 cents loss Wall Street analysts expected. The video game vendor also recorded revenue during forecasts, and it also lowered its sales forecast.

Zscaler – Shares of Zscaler plunged by 23% after the cyber security company lowered its earnings outlook for the next financial year. The company said it expects to publish adjusted earnings of between 12 cents and 15 cents per share next year, below analysts' estimate of 19 cents per share.

Callaway Golf – Callaway Golf shares rose 3% after an analyst at Raymond James upgraded the golf equipment manufacturer to outperform the market performance. Analysts said the stock does not "fully reflect" Callaway's 14% stake in TopGolf, adding that it "will be too penalized for the recently acquired Jack Wolfskin, which hides the health of the balance in its portfolio."

Micron – The chipmaker's share rose more than 2% after an analyst at Longbow upgraded it to buy from neutral, citing improving fundamentals in the memory and flash storage markets.

Costco – Shares of big box traders Costco fell 1.5% after a downgrade to perform from better results from Oppenheimer. The company cited a record high valuation for a share that has risen almost 45% since January. Oppenheimer raised its price target to $ 300 from $ 295 as the stock traded above its price target.

—CNBC's Maggie Fitzgerald and Fred Imbert contributed reporting.


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