PayPal logo displayed on a smartphone screen with a stock market graphic in the background.
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Check out the companies making headlines in Monday’s trading.
on semiconductor — Shares rose more than 1% after the company reported earnings Monday that beat Wall Street estimates. The company posted revenue of $2.1 billion for the quarter, up 13.5% from $1.85 billion in revenue last year.
Ditch The tech company saw its shares drop 3.7% after it announced plans to lay off 5% of its workforce. Dell co-chief operating officer Jeff Clarke said the staff cuts are an effort to “stay ahead of the effects of the recession.” The company has been battling a global slowdown in demand for PCs and laptops during the last one year.
Tyson Foods — Shares of the food processing giant tumbled 4.8% after the company reported weaker-than-expected results for its most recent quarter. Tyson earned 85 cents per share on revenue of $13.26 billion. According to Refinitiv, analysts expected $1.34 per share in earnings and $13.52 billion in revenue.
T Mobile — The telecom stock fell 2.4% after MoffettNathanson downgraded MarketPerformance from an Outperform rating, citing concerns about slowing growth.
children’s place — Shares declined more than 5.1% after management said it expects to report a net loss in the range of $52 million to $57 million for the fourth quarter, due to a “deteriorating gross margin” due to a tough macro environment. ” with citing a reference.
paypal — Shares of the payments company fell more than 3% after Raymond James downgraded Market Performance from Outperform. The Wall Street firm said it maintains a cautious stance on the stock ahead of PayPal’s fourth-quarter earnings call later this week, expecting “flat to negative growth for branded checkout.”
Energizer Holdings — The battery maker’s share price plunged 8.5% after fourth-quarter revenue and earnings fell short of expectations. The company affirmed earnings per share and revenue growth guidance for the full year.
catalant Shares of the contract maker soared 20.4% after a Bloomberg News report showed Danaher has expressed interest in taking over the company. Shares of Danaher declined 1%.
Under Armour — Shares of the sports equipment retailer were down 3% in afternoon trading. However, Baird said on Monday that sentiment for the company’s shares is improving more positively since last fall, with the prospect of a softer landing expected to improve earnings this year. Year to date, the Under Armour’s Class A stock is up 20%.
align technology — The medical device company rose more than 1% after announcing a $250 million accelerated stock repurchase agreement with Citibank.
— CNBC’s Tanya Machel, Samantha Subin, Alex Haring, Sarah Min, Yoon Lee and Hakyung Kim contributed reporting.
