At midday, several companies were making headlines:
HP experienced a 6.6% drop in midday trading after reporting lower-than-expected fiscal third-quarter revenue; Box tumbled 12.3% when it provided weak guidance for the current quarter; Ambarella sank 20.4% due to weak third-quarter guidance; PVH rose 1.9% when it beat earnings expectations; Brown-Forman fell 4% as it missed expectations for its first fiscal quarter of 2024; Insulet rose 6.4% after its CEO purchased shares; Fluence Energy added 1.1% when Barclays initiated coverage with an overweight rating; Spotify rose 3.4% when Wells Fargo reiterated its buy rating; Apple gained 1.9% when Citi reaffirmed its buy rating; Rockwell Automation declined 2.4% following a downgrade to underweight from equal weight by Wells Fargo; Netflix increased 1.1% following four consecutive days of positive trading; Sunrun jumped by 1.8% when Citi upgraded the stock to buy from neutral; and Align Technology ascended 0.9% when HSBC initiated the stock with a buy rating.
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