Check out the companies making headlines in midday trading.
Salesforceannounced the sudden departure of co-CEO Bret Taylor. The Dow component dragged down the 30-stock average during Thursday’s sell-off. Salesforce did report earnings and revenue that beat analyst expectations for the most recent quarter, however.
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Snowflakeanalysts from Morgan Stanley and MoffettNathanson reiterated their bullish stance on the stock’s long-term prospects. The cloud data platform provider reported earnings that beat expectations but provided light revenue guidance, which sent the stock lower after-hours Wednesday.
Victoria’s Secretreported mixed results from its most recent quarter. The lingerie company reported earnings of 29 cents per share on revenue of $1.32 billion. Analysts polled by Refinitiv were expecting earnings of 23 cents per share on revenue of $1.33 billion. JPMorgan downgraded the stock to neutral from overweight after the results, citing trouble in the company’s core business.
Aclaris TherapeuticsGoldman Sachs initiated coverage on Aclaris Therapeutics with a buy rating. The firm said the biopharma stock could jump more than 60% on a possible new treatment for immuno-inflammatory diseases.
— CNBC’s Sarah Min, Tanaya Macheel, Michelle Fox, Jesse Pound, Carmen Reinicke and Yun Li contributed reporting