The logo and trading symbol for Twitter is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City on July 11, 2022.
Brendan McDermid | Reuters
Learn about the companies making headlines in mid-day trading.
UiPath — The stock fell 12.9% after UiPath issued weaker-than-expected third-quarter and full-year revenue guidance. Still, the robotic process automation software company beat earnings and revenue expectations in its most recent quarter.
Coupa Software — Coupa Software climbed 13% after outlining strong full-year earnings and revenue guidance as well as exceeding expectations in its most recent quarter.
ChargePoint — ChargePoint rose 8.2% after Credit Suisse introduced coverage to the operator of electric vehicle charging stations with a buy rating, saying shares could jump nearly 50% from here. The firm’s analyst said ChargePoint stations should get a boost from favorable US regulatory policies.
Gitlab – Shares jumped 6.7% after the software developer reported lower-than-expected losses in its most recent quarter. Gitlab also issued better-than-expected guidance in the third quarter.
Pinterest – The social media stock rose 4.6% after Wolfe Research upgraded it to outperform. The firm was positive on the new CEO of Pinterest, which analysts say could improve execution on the company’s long-term user and monetization goals.
Twitter – Shares of Twitter rose 4.8% after a Delaware court turned down Elon Musk’s request to postpone a trial focused on his move to drop a $44 billion deal to buy the social media company. The court, however, said it would allow Musk to add the claims of a Twitter whistleblower to his countersuit.
Starbucks – Shares of the coffee chain rose 3% after Barclays said it had a buying opportunity for the stock ahead of its upcoming Investor Day. Barclays said in a note to customers that it has confidence in the upcoming Starbucks CEO Laxman Narasimhan.
Petco Health & Wellness — Shares of the pet products retailer rose 4.5% after RBC began coverage with an outperform rating. Analysts noted that much of the weak consumer environment is already reflected in the share price and believe that Petco is well-positioned to take part of the American pet category “with its revised company strategy, Given the structurally advantageous real-estate portfolio and the opportunity for vetting expansion.”
BAKER HUGHES – Energy stocks fell, as oil prices plunged to seven-month lows, with Brent crude futures and US West Texas Intermediate crude down more than $3 each. Baker Hughes shares fell 3.2%. Halliburton declined 2.5% and Occidental Petroleum and Marathon Oil both fell 2.1%.
— CNBC’s Jesse Pound, Samantha Subin, Michelle Fox Theobald contributed reporting.