Coles, Broadcom, Lululemon, etc.

People walk near the entrance to the Coles department store in Doral, Florida, on June 7, 2022.

Joe Ladle | Getty Images

Check out the companies making the biggest moves at noon.

Kohl’s — Private equity firm Oak Street Real Estate Capital has bought $2 billion worth of Kohl’s assets and made a proposal to let the retailer lease back its stores, the retailer’s stake has slumped. Soared 7.8%. Reuters cited a person familiar with the matter.

Broadcom — Shares of Broadcom rose more than 4% after the semiconductor maker reported better-than-analyst-expected quarterly earnings and earnings and announced better-than-expected earnings guidance for the quarter. The company’s CEO, Hock Tan, said he expects strong demand to continue in the current quarter.

Lululemon — Stocks in the apparel company surged nearly 9% after Lululemon’s second-quarter earnings beat analyst expectations. The company reported adjusted earnings of $2.20 per share on revenue of $1.87 billion. Analysts surveyed by Refinitiv had expected earnings per share of $1.87 and earnings of $1.77 billion. Same-store sales increased 23% year-on-year, and operating margin he expanded to 21.5%.

Okta — The cybersecurity firm’s stock rose 8.4%, recouping some of the previous day’s big losses. Okta plummeted 33.7% on Thursday after a slew of downgrades on Wall Street despite top- and bottom-line gains in recent quarters.

Salesforce — Stocks of the enterprise software maker soared just under 3% after Guggenheim moved its shares from sell to neutral. The Wall Street firm has upgraded its ratings after Salesforce sold 20% since its inception. Last week, Salesforce reported better-than-expected quarterly numbers, but fell short of guidance for the quarter and full year.

PagerDuty — PagerDuty is up 1.22% after reporting better-than-expected quarterly earnings and strong guidance. The operations management software company saw a 7.1% increase in total paying customers and a 37.5% increase in the number of customers with annual recurring revenue over $100,000 compared to the previous year.

Rocket Lab — Rocket Lab shares rose 2.56% after the company announced the first successful start-up of a repurposed Rutherford stage engine earlier this week. The engine is a liquid rocket engine designed and manufactured by a space rocket company.

Beyond Meat — Beyond Meat shares fell 2.04% after investment firm Baillie Gifford reported a 6.61% stake in the company. This is down from her 13.38% stake in the company on December 31, 2021.

Energy Stocks – Crude oil prices rose on Friday, energy company stocks rose. Halliburton was among the winners, up 5.15%. Devon Energy and ConocoPhillips both he rose over 4%, while Exxon Mobile and Occidental Petroleum both rose about 2%.

— CNBC’s Jesse Pound, Yun Li, and Tanaya Macheel contributed to this report.


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