Here are the midday trading headlines for some notable companies: Dell Technologies saw its software stock plummet 18% after its executives warned of potential gross margin pressure in 2025. Lionsgate Studios’ shares increased 3% following a buy rating initiation by Citi, with the studio’s decision to spin off Starz expected to drive further margin expansion. Zscaler’s shares rose 9% following an earnings and revenue beat for its fiscal third quarter. The cloud security company’s adjusted earnings were 88 cents per share, surpassing LSEG analysts’ expectations of 66 cents. Nordstrom’s shares increased by 5% following a strong quarterly sales report and the company maintaining its full-year forecast. Despite falling short of Wall Street’s quarterly earnings expectations, its off-price chain, Nordstrom Rack, saw a 7.9% YoY rise in comparable sales. Gap, the clothing retailer, saw its shares surge 29% after posting higher-than-expected fiscal first-quarter earnings per share. Ambarella’s shares increased by 21% as the chipmaker expects revenue growth in fiscal 2025 driven by strong AI demand. However, Marvell Technologies saw a 10% plunge in its stock after missing Q1 earnings expectations. MongoDB’s shares fell 24% after it reduced its Q2 and full-year fiscal guidance. SentinelOne’s shares dipped 13% after its weaker-than-expected revenue outlook. VF Corporation’s shares rose 8% after Sun Choe was announced as the global brand president of Vans. Lastly, Paycom Software’s stock declined 9% after an executive reshuffle, and First Solar’s shares dropped 2% after Mizuho downgraded its rating. This report was contributed by CNBC’s Hakyung Kim, Yun Li, Jesse Pound, and Pia Singh.
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