Stocks making the biggest moves midday: Casper, Sysco, 3D Systems and more
10 Aug 2021
Casper’s subway campaign
Check out the companies making headlines in midday trading.
3D Systems — The 3-D printing company’s stock surged about 40% after it reported second-quarter earnings of 12 cents per share, beating the 5 cents a share consensus estimate, 3D said it had made it out of the company’s most challenging 12 months ever. Its reported revenue beat estimates as well.
The RealReal — Shares of the luxury consignment brand plummeted by more than 17% after reporting a quarterly loss late Monday. The company reported strong gross merchandise value of $350 million, up 91% year over year and said as they restart at-home appointments, units per appointment exceed pre-pandemic levels. Still, the company missed revenue forecasts.
AMC Entertainment — AMC rose about 1% after reporting a loss late Monday of 71 cents per share, which was less than the 91 cents per share loss analysts expected. The movie theater chain reported revenue of $444.7 million, higher than the $382.1 million analysts had expected. It also announced it will begin accepting cryptocurrencies at U.S. locations this year.
Kansas City Southern — Shares of the railroad operator jumped more than 7% after Canadian Pacific Railway raised its buyout offer to about $300 per share. The bid came three months after the companies’ merger agreement was terminated amid a rival offer from Canadian National Railway.
Casper — Casper, the maker of sleep products, fell 13% in midday trading. Despite reporting record quarterly revenue that beat Wall Street forecasts, it still reported a loss for the period. The company cited strong growth in retail and direct-to-consumer sales, but also said input costs are higher and it’s experiencing supply chain difficulties.
Sysco — Shares of the distribution company rose 6.5% after a better-than-expected earnings report. Sysco posted an EPS of 71 cents in its fiscal fourth quarter, compared to the 60 cents expected by analysts, according to FactSet. Revenue also came in higher than estimates.
II-VI — The maker of optoelectronic components saw its stock fall over 3% after reporting its quarterly results. Although it reported earnings of 88 cents per share, beating analysts’ estimates by 12 cents, it also had its highest-ever backlog at the end of the quarter.
Boston Beer — Shares of Boston Beer dropped more than 2% after the brewer announced a partnership with PepsiCo to create an alcoholic Mountain Dew drink. The drink, called Hard Mtn Dew, will be a flavored malt beverage containing 5% alcohol by volume.
Aramark — Shares of the business uniform and food service provider dipped over 2% after the company’s revenues came up short of expectations. Aramark reported adjusted earnings of 3 cents per share on $2.98 billion of revenue during its fiscal third quarter. Analysts surveyed by Refinitiv were looking for 1 cent per share on $3.06 billion in revenue. Organic growth was lower than expected, according to estimates from StreetAccount.
— CNBC’s Yun Li, Hannah Miao, Jesse Pound contributed reporting
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