Take a look at the companies making headlines in midday trading: Nordstrom – Retail stocks fell 10% after CEO Erik Nordstrom said the company has seen a sales slowdown starting in late October. Nordstrom's third-quarter revenue of $3.46 billion topped the LSEG consensus of $3.35 billion. HP – Shares of the PC maker fell 13%, heading for their worst session since 2020 on weaker-than-expected earnings guidance. HP said it expects earnings, excluding items, to range between 70 cents per share and 76 cents per share, versus a FactSet estimate of 85 cents per share. Urban Outfitters – Shares rose 14% after the retailer reported third-quarter adjusted earnings of $1.10 per share, above the 86 cents expected by analysts polled by LSEG. Revenue also exceeded expectations, coming in at $1.35 billion, compared to the consensus estimate of $1.34 billion. Dell Technologies — The PC maker saw its shares tumble 13% after the company reported a revenue loss and forecast fourth-quarter revenue and profit below Wall Street expectations. Before Tuesday night's earnings report, Dell shares had skyrocketed 86% in 2024 as investors saw the company as one of the leading companies selling tools and systems for artificial intelligence developers. Crypto Stocks – Stocks tied to the price of Bitcoin rose in afternoon trading as the cryptocurrency climbed back to $100,000 after falling 10% earlier this week. Crypto exchange Coinbase rose more than 1.5%, while bitcoin proxy MicroStrategy rose 6%. Robinhood gained more than 3%. CrowdStrike — Cybersecurity shares fell 5.9% on slightly lighter-than-expected expectations from the company. CrowdStrike forecast fourth-quarter earnings per share of between 84 and 86 cents, while analysts had expected 86 cents per share, according to LSEG data. CEO George Kurtz said on an analyst call that the company expects net new annual recurring revenue to pick up in the second half of 2025, which could be further away than some investors expected. Ambarella – Shares rose 5.6% after the semiconductor design company gave an optimistic outlook for the fourth quarter. Ambarella expects revenue to be between $76 million and $80 million, while analysts surveyed by LSEG expected $69 million. Ambarella's adjusted third-quarter earnings and revenue also exceeded analyst expectations. Workday – Shares fell 7% after the HR software company issued weaker-than-expected fourth-quarter guidance. The company expects $2.025 billion in subscription revenue and an adjusted operating margin of 25%. However, analysts polled by StreetAccount expected $2.04 billion in subscription revenue and a margin of 25.5%. Autodesk – The software company retreated more than 8% after fourth-quarter expectations missed analysts' expectations. Autodesk expects earnings per share to be in the range of $2.10 to $2.16, excluding items, and revenue of $1.623 billion to $1.638 billion. Analysts polled by LSEG expected earnings of $2.12 per share on revenue of $1.62 billion. Autodesk also appointed Janesh Moorjani as Chief Financial Officer, effective December 16. SolarEdge Technologies – Clean energy shares rose 15% after the company shuttered its energy storage division. SolarEdge also announced it would cut 500 jobs, or about 12% of its workforce. The stock is down about 84% in 2024. Symbotic – Robotics stock plummeted 38.9% after the company reported accounting errors that led to the delay in the filing of the 10,000 shares. Symbotic also lowered its first-quarter expectations on the errors related to cost overruns. – CNBC's Yun Li, Tanaya Macheel, Michelle Fox, Jesse Pound, Samantha Subin and Sean Conlon contributed reporting.
