Check out the companies making headlines in midday trading: KB Home — Shares of the homebuilder fell 5.2% after the company posted a top- and bottom-line miss in the first quarter. KB Home earned $1.49 per share on revenue of $1.39 billion. Analysts polled by LSEG were looking for earnings of $1.58 per share and revenue of $1.5 billion. The company also cut its revenue guidance for fiscal 2025. Cloudflare — Shares of the network security firm jumped more than 2% on the back of Bank of America’s double upgrade to buy from underperform. The bank said Cloudflare’s fundamentals are improving and the stock is an underappreciated play on artificial intelligence. Oklo — The nuclear technology company tumbled 6.4% after reporting a wider annual loss compared with a year prior. Oklo also said it expects to incur “significant expenses and continuing financial losses.” CrowdStrike Holdings — The cybersecurity firm saw shares rising more than 3% after BTIG upgraded the stock to buy from neutral . The Wall Street firm said CrowdStrike has “much better visibility” on its forecast now that the IT outage is eight months in the rearview mirror. Trump Media — The stock jumped about 8.9% after the parent of President Donald Trump’s Truth Social platform announced a deal with Crypto.com to launch a series of exchange-traded funds and related products. The company revealed that it plans to launch the funds later in 2025. Mobileye — The autonomous driving stock climbed around 8.7%. Volkswagen announced it would collaborate with the company to advance its assisted and autonomous driving technology. Crown Castle — The telecommunications stock shed 3.7% after Crown Castle’s board announced it had terminated CEO Steven Moskowitz, effective immediately. Chief Financial Officer Dan Schlanger will serve as interim CEO. Crown Castle also reaffirmed the fiscal 2025 guidance it had previously set. — CNBC’s Alex Harring, Yun Li, Lisa Kailai Han, Michelle Fox and Sean Conlon contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
Source link
