Mark Hurd, CEO, Oracle
Michael Short | Bloomberg | Getty Images
Check out the companies making headlines midday Thursday:
Exxon Mobil, Noble Energy, Devon Energy — Energy shares jumped with the price of oil as tensions between Iran and the U.S. intensified after a drone was shot down over Iranian airspace. President Donald Trump reacted to the event by tweeting “Iran made a very big mistake. ” He later told reporters “you’ll soon find out ” whether the U.S. will strike Iran. The news sent oil prices surging more than 5%. Exxon Mobil shares were up 1.3%, while Noble Energy and Devon Energy both gained more than 4%.
Oracle — Oracle rose more than 8% after the company’s quarterly report beat expectations. The enterprise software company reported earnings of $1.16 per share, excluding certain items, on $11.14 billion in revenue for its fiscal fourth quarter. Consensus estimates were $1.07 in earnings per share and $10.93 billion in revenue, according to Refinitiv.
Slack Technologies — Slack Technologies shares surged more than 50% in the workplace messaging company’s first day of trading. The stock opened at $38.50, well above its reference price of $26.
Commercial Metals — Shares of Commercial Metals jumped 7.5% following a better-than-expected quarterly report. The company reported 66 cents earnings per share, topping a Refinitiv estimate 61 per share. Revenue was in-line with expectations at $1.6 billion for the fiscal third quarter, representing a year-over-year increase of more than 30%.
CommScope Holding — The communication infrastructure company’s stock jumped more than 5% after analysts at Goldman Sachs upgraded the stock to buy from neutral. Analysts said the company has potential to expand margins and opportunities to benefit from trends like 5G and datacenter.
Steelcase — Steelcase fell 11% after the office furniture maker’s quarterly numbers disappointed investors. Steelcase reported earnings per share of 15 cents on revenue of $824.3 million. Analysts polled by Refinitiv expected a profit of 18 cents per share on sales of $839.1 million.
Monotype Imaging — Shares of Monotype Imaging surged 8.2% after Bloomberg News reported the typeface developer is exploring strategic options after receiving interest from private-equity firms for a buyout.
KeyCorp, BB&T, Bank OZK — Regional bank stocks fell broadly after the Federal Reserve hinted at the possibility of lowering rates as soon as next month. This sent the benchmark 10-year Treasury yield to its lowest level since November 2016. KeyCorp, BB&T and Bank OZK all fell more than 1.5%.
Carnival — Stock in cruise operator Carnival fell 10.2% after the company cut its full-year revenue forecasts due to new restrictions on travel to Cuba, among other factors.
—CNBC’s Marc Rod, Elizabeth Myong and Jesse Pound contributed to this report.