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Home » Stocks making the biggest moves in the afternoon: Gap, Ross Stores, Tenet Healthcare & more
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Stocks making the biggest moves in the afternoon: Gap, Ross Stores, Tenet Healthcare & more

Justin Ashley
Last updated: 2025/01/29 at 9:11 AM
Justin Ashley
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Stocks making the biggest moves in the afternoon: Gap, Ross Stores, Tenet Healthcare & more
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Check out the companies making headlines in afternoon trading. Gap – The apparel retailer saw its shares surge 30.6% after posting fiscal third-quarter results late Thursday that beat Wall Street estimates, led by strong sales at Old Navy and an improvement in its namesake banner. Went. Adjusted earnings of 59 cents per share beat analysts’ expectations of 19 cents per share, per LSEG. Revenue also beat estimates, coming in at $3.77 billion compared to the $3.6 billion forecast. Spectrum Brands Holdings – Shares of Spectrum Brands fell 11.8% after the household products company forecast a year-over-year revenue decline for the fiscal year ending September 2024, versus an annual profit of 1.5%. FactSet Consensus is lower than anticipated. Otherwise, the company topped fiscal fourth-quarter earnings and revenue estimates. ChargePoint Holdings – Shares of ChargePoint fell 35.5% after the electric vehicle infrastructure company warned Thursday that its upcoming third-quarter revenue results will be weaker than previously expected. It now forecasts third-quarter revenue of $108 million to $113 million, down from prior guidance of $150 million to $165 million. The company also replaced its C-suite by removing its CEO. Tenet Healthcare – Shares rose 9.6% after Tenet Healthcare said it would sell three of its South Carolina hospitals to Novant Health. The transaction is valued at approximately $2.4 billion. Ross Stores – The clothing retailer rose 7.2% after top- and bottom-line declines in the third quarter. Late Thursday, Ross reported earnings of $1.33 per share on revenue of $4.92 billion, while analysts polled by LSEG expected earnings of $1.22 per share and revenue of $4.85 billion. Applied Materials – Semiconductor equipment makers fell 4%. Applied Materials is under criminal investigation by the Justice Department for potentially ignoring export restrictions on Chinese chip company SMIC, Reuters reported, citing sources. Dillard’s – Shares of the department store chain rose 7.7%. Dillard’s on Thursday declared a special dividend of $20 per share as well as a quarterly cash dividend of 25 cents per share. California-based Pacific Biosciences – Shares rose 10.7% after UBS upgraded it to buy from neutral. The Wall Street firm said the biosciences company has growth potential and the shares present “an attractive buying opportunity.” Expedia Group – Evercore shares rose 5% to hit a new 52-week high after ISI upgraded the stock to outperform above the line. The firm said Expedia shares are at a “fundamental inflection point” and revenue growth is expected to accelerate in 2024. GitLab – The software stock fell 3.6% after Barclays downgraded GitLab to equal weight from overweight, saying it was cautious in the near term and that it was waiting for a better entry point for the shares. — CNBC’s Brian Evans, Alex Haring, Hakyung Kim, Tanaya Machel and Piya Singh contributed reporting.

Justin Ashley 29 January 2025 29 January 2025
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By Justin Ashley
Justin Ashley is a distinguished financial expert with an impressive track record in the world of finance. He embarked on his career at New York Business Times in 2015 as a finance correspondent and has since become a prominent figure in the industry.
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