Check out the companies making headlines at noon trading, where stocks fell by more than 3% after cloud storage companies’ topline guidance failed to reach estimates. Box expects first quarter revenue to be between $274 million and $275 million, but analysts voted by LSEG were hoping for $279.5 million. Box’s fourth quarter revenue was $280 million, surpassing Wall Street’s $279 million consensus. Aerovironment – Stocks fell 5% after defense contractors weakened year-round guidance. Aerovironment expects revenue adjusted between $2.92 to $3.13 per share, against revenues of $780 to $795 million. Analysts surveyed by LSEG were looking for revenues of $3.45 per share and $821 million. Third quarter revenue and revenue also missed out on expectations. KENVUE – Shares fell by about 1% after Kenvue settled the proxy battle against activists’ right board value and added three new directors to the board. Starboard took a large share in Kemb, previously the consumer health sector under Johnson & Johnson, and expressed disappointment at the performance and management of the stock. CrowdStrike – Stocks fell 7% after cybersecurity companies derived lower than expected first quarter revenue and operating income. However, CrowdStrike expects annual revenue to range from around $4.74 billion to $4.8 billion, covering the $4.777 billion consensus analysts being penciled down, according to Factset. Abercrombie & Fitch – Apparel retailer has overturned over 11% after offering disappointing sales forecasts and said in February that demand for apparel was weak. The company, which also owns the Hollister and Gilly Hicks brands, expects a 2025 sales growth rate of 3% to 5%, below the LSEG’s 6.8% consensus. For the first quarter, retailers expect to make between $1.25 to $1.45 per share, compared to analyst estimates of $1.97 per share. Automakers – Stocks in General Motors, Ford and Stellantis have climbed high after Bloomberg News reported that the Trump administration could delay car rates for a month. General Motors and Ford stocks won 5% and 4% respectively, while Stellantis jumped nearly 8%. Dollar Tree – Shares in the discount chain rose nearly 2% after Dollar Tree announced Stewart Glendining as its next Chief Financial Officer from March 30th. Novo Nordisk – Novo Nordisk rose 4% after announcing plans to sell weight loss pills at less than half their normal prices through a new direct online pharmacy. Moderna – Biotech stocks rose 7% after CEO Stephane Bancel revealed on March 3 that he bought about 160,000 shares, or $5 million worth of shares. Campbell’s Company – Canned food companies fell 3% after cutting year-round guidance below analyst estimates. Second quarter revenue was also lower than expected. The company cited weaknesses in the snack segment. Footlocker – The stock rose more than 5% after shoe retailers reported revenue beats and sales in the same store stronger than expected in the fourth quarter. Huntington Ingalls – Newport News, the maker of Virginia’s naval warships, surged 10% on Wednesday after President Trump on Tuesday night, pledging to revive military shipbuilding, oversee expansion and set up a special White House office to “provide special tax incentives.” – Reported by CNBC’s Sean Conlon, Pier Singh, Lisa Kailay Han, Scott Schnipper and Christina Cheddarberg.
