Check out the companies making headlines in midday trading:
Cadence Design Systems — The electronic design stock jumped 5% after third-quarter earnings topped Wall Street expectations. Cadence Design earned $1.64 per share, excluding items, on $1.22 billion in revenue, while analysts surveyed by LSEG penciled in just $1.44 in earnings per share and $1.18 billion in revenue. The company also hiked up its midpoint outlook for non-GAAP earnings per share in 2024.
VF Corporation — The North Face and JanSport parent surged 17% on better-than-anticipated earnings for the fiscal second quarter. VF Corporation posted adjusted earnings of 60 cents per share and revenue at $2.76 billion, exceeding consensus forecasts of 37 cents in earnings per share and $2.71 billion in revenue from analysts polled by LSEG. The Colorado-based company also announced a quarterly dividend of 9 cents per share.
Ford — The automaker slipped about 5%. While third-quarter results topped expectations from analysts surveyed by LSEG, investor attention focused on full-year guidance that came in at the low end of the previously set range.
F5 — The cloud services company jumped 10% following stronger-than-predicted earnings in the fourth fiscal quarter. F5 posted $3.67 in adjusted earnings per share and $747 million in revenue. Analysts polled by LSEG had anticipated just $3.45 in earnings per share on $731 million in revenue for the quarter.
Trex — The maker of composite deck materials advanced 6% after earnings surpassed Wall Street consensus forecasts. Trex reported adjusted earnings of 37 cents per share in the third quarter, while analysts anticipated just 32 cents, per FactSet. Revenue came in at $233.7 million, also ahead of the consensus estimate of $225.4 million.
Boot Barn — The western-wear retailer tumbled 8%. Fiscal second-quarter earnings came in line with the Street’s expectations of 95 cents a share, per LSEG. Revenue, on the other hand, exceed consensus forecasts. Boot Barn also said CEO Jim Conroy will be stepping down , effective Nov. 22, and digital chief John Hazen will take over as interim CEO. Conroy will join Ross Stores as CEO-elect in December.
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