Oracle, General Electric, Southwest Airlines and even more
An exterior view of the Oracle Field Office at Wilson Boulevard in Arlington, Virginia, on October 18, 2019.
Tom Brenner | Reuters
Find out the companies that make headlines in the midday trade.
Oracle – The technology company’s shares fell more than 3% after Oracle’s first-quarter revenues fell short of expectations. The company reported sales of $ 9.73 billion, which was short of analyst expectations of $ 9.77 billion interviewed by Refinitiv. Oracle earned $ 1.03 per share on an adjusted basis during the period, which was ahead of the 97 cents the Street expected.
Angi – Home services market share jumped more than 7% after reporting its August metrics, which show its revenues for the month have jumped 21% from the previous year. Angi owns Angie’s List, HomeAdvisor and HomeStars, among other brands.
Casino stocks: Shares of Las Vegas Sands and Wynn Resorts – both operating in Macau – have plummeted as investors worry about tougher regulations. The Macau government will begin a 45-day public consultation to review the gaming industry, according to a Reuters report. Shares of Las Vegas Sands fell more than 12%, while Wynn fell more than 11%.
Fox Corp. – Shares of the media company fell 1.8% after news that the company has finalized an agreement to acquire celebrity news platform TMZ from AT&T’s WarnerMedia unit. The companies did not disclose the terms of the deal, but the Wall Street Journal reported reported that TMZ is valued at less than $ 50 million.
Herbalife Nutrition – The company’s wellness supplement shares fell 15% after Herbalife lowered its guidance for the third quarter, citing sweeter sales activity than expected. The company now expects earnings per share from $ 1.00 to $ 1.20, which is 5 cents lower for each end of the previous guide.
Southwest Airlines – Airlines ’shares fell in midday trading when economic reopening names weakened. Southwest scored 1.5% more and Delta Air Lines lost 1.6%. United Airlines fell 2%. In addition, Southwestern President Tom Nealon will retire from the carrier in force immediately. His departure comes three months after CEO Gary Kelly announced he would retire in January and named Bob Jordan, a long-term executive, as his successor.
General Electric – Action related to economic reopening is falling in midday trading. General Electric led industrial stocks in the red, warming 2.7%.
SeaChange International – SeaChange shares rose 6.5% after reporting a smaller-than-expected quarterly loss. The video management solution company lost 3 cents per share, smaller than the 9 cent loss predicted by analysts. Revenues also exceeded expectations.
– with reports from CNBC’s Pippa Stevens, Jesse Pound, Tanaya Macheel and Hannah Miao.