See the companies making headlines in midday trading. CH Robinson – Shares fell 11.6% after reporting earnings that were worse than expected. The logistics company earned 50 cents per share on an adjusted basis on revenue of $4.22 billion. Meanwhile, analysts polled by LSEG, formerly known as Refinitiv, forecast earnings of 81 cents per share and revenue of $4.34 billion. Peloton — Shares fell more than 23% amid the company’s dismal guidance for the current quarter and full-year sales. Peloton forecast sales for the quarter to be between $700 million and $725 million. Analysts had expected $754 million, according to LSEG. The company also posted mixed results for its fiscal second quarter. Honeywell International – Shares of the industrial company fell 3.1% as revenue fell. Honeywell reported fourth-quarter revenue of $9.44 billion. Analysts surveyed by LSEG expected revenue of $9.70 billion. Align Technology – Shares jumped 16% after the medical device company beat fourth-quarter expectations and delivered positive outlook. Align earned $2.42 per share, excluding items, on revenue of $957 million, beating the consensus of $2.18 per share and $934 million in revenue among analysts surveyed by LSEG. The company reported first-quarter revenue of $960 million to $980 million, beating analysts’ estimates of $947 million. New York Community Bank — Regional Bank fell for a second day, falling another 13% after falling 37% on Wednesday on a fourth-quarter loss. a $552 million provision to cover credit losses and dividend cuts. The SPDR S&P Regional Banking ETF (KRE) fell 5.6%, Western Alliance fell 10.4%, and M&T Bank fell 6.3%. Norfolk Southern — Railroad shares rose 6.9% after a group of investors led by Ancora Holdings took a larger stake. The Wall Street Journal reported that the group has plans for a proxy fight as it seeks to take control and oust the CEO. Nextracker – Shares rose 18% after the company that makes systems that point solar panels at the sun raised its full-year guidance. Nextracker raised its revenue forecast to $2.475 billion this year, up from $2.4 billion previously. The company also raised its full-year adjusted earnings forecast to $2.75 per share, the top of its range, from $2.15 previously. Wolfspeed — Shares of the semiconductor sector fell 5.6% after weak forecasts issued late Wednesday. Wolfspeed said investors should expect revenue of $185 million to $215 million in the fiscal third quarter, below the consensus forecast of $224 million among analysts surveyed by LSEG. That distracted attention from the strong second-quarter financial report. Merck — Shares of the pharmaceutical giant rose 2.7% after Merck reported fourth-quarter revenue and adjusted earnings that topped consensus estimates, helped by strong demand for its blockbuster cancer drug Keytruda and HPV vaccine Gardasil. The company published its general operating forecast for 2024. MaxLinear – Shares fell 13.1% on the day after the computer equipment supplier issued soft guidance. MaxLinear said first-quarter revenue should be between $85 million and $105 million, below the $121.8 million expected by analysts polled by FactSet. Boot Barn — Shares of the shoe retailer jumped 7% after Boot Barn said its comparable sales began to stabilize in January after declining nearly 10% in its fiscal third quarter, which ended in December. The company already announced preliminary results for its fiscal third quarter last month. CORVO — Shares of the semiconductor company rose 4.8% a day after Qorvo reported fiscal third-quarter results that beat estimates. Adjusted earnings per share were $2.10, versus $1.66 expected by analysts polled by StreetAccount. Revenue was $1.07 billion, topping the consensus estimate of $1 billion. ChargePoint — Shares of the electric vehicle charging company jumped 4.5% after TD Cowen called the company a “potential long-term winner” despite a difficult year ahead. Analyst Gabe Dowd Jr. also raised his price target on the stock by $1 to $4. Qualcomm shares fell 2.8% after Citi downgraded its rating from buy to neutral. In its statement, Citi pointed to the semiconductor company’s worse-than-expected outlook for the current quarter. — CNBC’s Pia Singh, Lisa Kailai Han, Jesse Pound, Hakyung Kim, Spencer Kimball and Scott Schnipper contributed reporting.
