Vail Resorts, GameStop and more
Check out the companies making headlines in midday trading: Abercrombie & Fitch — Shares of the retailer climbed 19% after Abercrombie & Fitch’s first-quarter earnings and revenue topped Street estimates, led by results at Hollister. Investors looked past A & F cutting its profit guidance and operating margin forecast due to tariffs, which the company said will hit its business by $50 million. Okta — Shares of the identity management software firm declined more than 14% after it left its guidance unchanged, citing macroeconomic uncertainty . The company’s first-quarter earnings and revenue came in better than expected. Vail Resorts — The ski resort operator surged more than 12% after Rob Katz returned as CEO , replacing Kirsten Lynch. Katz, the executive chair, served as CEO from 2006 to 2021. Box — Shares soared 17% and hit an all-time high after Box’s fiscal first-quarter earnings and revenue beat analysts’ estimates, according to FactSet. The cloud storage company’s forward guidance for the second quarter and full year also came in above expectations. Joby Aviation — The electric vertical takeoff and landing aircraft maker jumped 27% after Toyota agreed to make an initial investment of $250 million, part of a total $500 million investment announced last year. GameStop — The meme stock tumbled 11% after the video game retailer bought 4,710 bitcoins , worth more than half a billion dollars. GameStop, which had amassed $4.76 billion in cash as of February, began a crypto purchasing plan similar to one made famous by MicroStrategy. The purchase came as bitcoin just hit a record high near $112,000. Capri Holdings — Shares rose 5% after the parent company of the Michael Kors and Jimmy Choo brands posted fiscal fourth-quarter revenue of $1.04 billion, exceeding the $1.0 billion analysts had expected, according to FactSet. Capri’s full-year earnings guidance of between $1.20 and $1.40 per share was also higher than the $1.02 consensus estimate. Last month, Capri entered into a definitive agreement to sell its Versace unit to Prada Group. Freshpet — The pet food company dropped nearly 3% after TD Cowen downgraded the stock to hold from buy, saying the company’s refrigerated dog food concept is “nearing a saturation point sooner than expected,” pointing to a slower pace of sales growth. — CNBC’s Yun Li, Lisa Kailai Han, Pia Singh and Michelle Fox contributed reporting.
