Stocks making the biggest moves midday: JetBlue, Hewlett Packard Enterprise, Tesla, G-III Apparel and more

Take a look at the businesses that are hitting the news in midday trading:

JetBlue Airways is set for takeoff with its shares surging more than 8% after its optimistic revenue forecast for Q3. The New York-based airline now projects revenues to be somewhere between a 2.5% decline to a 1% increase, compared to the same quarter a year ago, which is a significant improvement from its earlier prediction of a loss between 1.5% and 5.5%.

G-III Apparel Group’s shares made a stylish ascent of 24% after outperforming Q2 expectations. The adjustment of earnings to 52 cents per share has outperformed the FactSet estimated 27 cents a share. Nonetheless, revenue of $644.8 million still didn’t quite measure up to the forecast of $649.5 million.

Hewlett Packard Enterprise lost some of its sheen with shares slipping 6% following a decline in gross margins from a year ago. However, the company’s fiscal Q3 results surpassed expectations, driven by a robust demand for its AI products.

Frontier Communications shares hit a bump, slumping 9% after Verizon announced an all-cash deal worth $20 billion to acquire the fiber-optic internet provider. Earlier, Frontier shares had skyrocketed 38% based on leaked reports of a potential deal, while Verizon’s shares declined marginally.

Shoe Carnival put on a stellar show with its shares soaring 12% after beating Q2 earnings estimates and hiking the lower end of its Q3 and full-year financial guidance. Offering a praiseworthy performance, Shoe Carnival reported adjusted earnings of 83 cents per share on revenue of $332.7 million, coming ahead of the FactSet anticipated earnings of 81 cents per share on revenue of $331.5 million.

Casey’s General Stores saw an increase in shares of over 5% after Q1 earnings of $4.83 per share surpassed the $4.50 EPS expected by analysts, according to FactSet. Nonetheless, its revenue of $4.10 billion fell slightly short of the $4.15 billion projected.

ChargePoint had a shocker with their stocks plunging almost 20% due to Q2 revenue falling short of the mark. The electric vehicle charging company posted revenue of $109 million for the period, missing the anticipated $114 million by LSEG. There are also reports of a 15% workforce cut and a possibility of below-estimate Q3 revenue.

Verint Systems shares dipped 11.6% after a disappointing Q2 earnings report. The company earned an adjusted 49 cents per share on $210 million in revenue, trailing the estimated 53 cents a share and $213 million revenue.

C3.ai saw a drop of 19.2% in its shares after the AI company reported weaker-than-anticipated subscription revenue for the first fiscal quarter. The $73.5 million in revenue didn’t match up to the $79.2 million expected by FactSet.

Credo Technology Group’s shares declined over 17% after its fiscal Q1 results. The company reported in-line adjusted earnings of 4 cents per share but fell short of the highest estimate of 5 cents per share.

Roku made waves with shares rising 5% after Wells Fargo upgraded the streaming platform from underweight to equal weight. The Roku Channel has been cited as a driving factor for this upgrade, as it continues to grow its share in TV time with potential monetization growth, according to analyst Steven Cahall.

Tesla energized the market with its shares soaring 3.8%. The company announced its plans to launch its advanced driver assistance in Europe and China in Q1 2025, subject to regulatory approval.

Old Dominion Freight Line hit the brakes with shares sliding about 7%, as the company’s YoY daily revenue for August fell 5.2% due to a 6.1% decrease in less-than-truckload tonnage.

Zimmer Biomet shares fell close to 8% after the medical device maker indicated a temporary glitch with the transition of a legacy software system which could affect fiscal-year sales by 1%.

McKesson’s shares deflated over 8% following its weaker-than-expected fiscal Q2 earnings guidance. The medical supply distributor expects to earn between $6.70 to $7.00 per share, falling short of the FactSet consensus estimate of $7.39 per share.

Toro Company didn’t make the cut with shares dipping 10% after it did not meet earnings and revenue expectations in its fiscal Q3. The company reported adjusted earnings of $1.18 per share on revenue of $1.16 billion, below the FactSet estimated earnings of $1.23 per share on revenue of $1.26 billion.