The logo and commerce icon for Twitter is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City on July 11, 2022.
Brendan McDermid | Reuters
Check out the companies making headlines in midday trading.
UiPath — Shares plummeted 12.9% after UiPath released weaker-than-expected third-quarter and full-year revenue guidance. Still, the robotic process automation software company beat earnings and revenue expectations in the most recent quarter.
Coupa Software — Coupa Software rose 13% after it reported better-than-expected earnings in its most recent quarter and outlined strong earnings and revenue guidance for the full year.
ChargePoint – ChargePoint rose 8.2% after Credit Suisse initiated coverage of the electric vehicle charging operator with a buy rating, and said shares could climb about 50% from here. The company’s analyst said ChargePoint stations should get a boost from favorable US regulatory policies.
Gitlab — Shares rose 6.7% after the software developer reported a smaller-than-expected loss last quarter. Gitlab also issued better-than-expected guidance for the third quarter.
Pinterest — The social media stock rose 4.6% after Wolfe Research upgraded it to outperform. The company was positive about Pinterest’s new CEO, who analysts say could improve the company’s execution of its long-term user and monetization goals.
Twitter – Twitter shares rose 4.8% after a Delaware court granted Elon Musk’s request to postpone a lawsuit focused on his move to abandon a $44 billion deal to buy the social media company , had set. However, the court said it would allow Musk to add claims from a Twitter whistleblower to his counterclaim.
Starbucks – Shares of the coffee chain rose 3% after Barclays said there were buying opportunities for the stock ahead of Investor Day. Barclays said in a note to customers that they are confident that new Starbucks CEO Laxman Narasimhan will come.
Petco Health and Wellness – Shares of the pet products retailer rose 4.5% after RBC opened coverage with an outperform rating. Noting that much of the flagging consumer environment is already reflected in the stock price, analysts believe Petco is well positioned to acquire stakes in the U.S. pet category “given its revised corporate strategy, structurally advantageous real estate portfolio, and opportunity for expansion.”
Baker Hughes – Energy stocks fell as oil prices fell to a seven-month low, with Brent crude futures and US West Texas Intermediate crude each down more than $3. Baker Hughes shares fell 3.2%. Halliburton was down 2.5% and Occidental Petroleum and Marathon Oil both fell 2.1%.
– CNBC’s Jesse Pound, Samantha Subin and Michelle Fox Theobald contributed coverage.