The Trimble logo is displayed on the smartphone.
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Check out the companies making headlines in afternoon trading.
trimble – The technology services provider jumped 6.5% on Thursday Announcement AGCO Corporation will acquire an 85% stake in Trimble’s agriculture business for $2 billion in cash, as the tractor and seeding equipment firm looks to grow its precision agriculture portfolio.
digitalbridge – Shares of the digital infrastructure company rose 4.8% after JPMorgan upgraded the company to overweight from neutral. The firm said DigitalBridge is largely finished with the transformation of its business.
Jefferies Financial Group -Financial services stocks rose 1.9%, even as a slowdown in deal-making hurt the company’s third-quarter profit. After markets closed Wednesday, Jefferies reported earnings of 22 cents a share on revenue of $1.18 billion. Nevertheless, the company’s CEO expressed hope that investment banking activity would regain momentum.
Duolingo — Shares rose 3.2% on Thursday after UBS initiated coverage of Duolingo with a buy rating a day earlier, calling it a “best-in-class brand.”
Host Hotels and Resorts – Shares rose 3.5% after Wolfe Research initiated coverage of the real estate investment trust with an outperform rating. The firm has set a price target of $22 for the company.
working day – Shares fell 8.5% a day after the cloud services company cut its long-term subscription growth target to 17% to 19%, compared with a previous target of 20%.
accenture – Shares of the IT and consulting firm fell 4.3% on Thursday after Accenture reported mixed results for its fiscal fourth quarter. The company reported adjusted earnings of $2.71 per share on revenue of $15.99 billion. Analysts were expecting $2.65 a share on revenue of $16.07 billion, according to FactSet. The company’s full-year guidance for earnings and cash from operations for the upcoming fiscal year also fell short of expectations, according to StreetAccount.
micron – Shares of the chip maker fell 4.4% a day after Micron reported lower-than-expected earnings. Micron estimates it will lose $1.07 per share in the fiscal first quarter, while analysts at LSEG, formerly known as Refinitiv, had expected a loss of 95 cents. In the fourth quarter of the fiscal year, the company reported a lower-than-expected loss while revenues also exceeded expectations.
peloton – Peloton rose 5.4% on Thursday. Peloton and Lululemon announced a five-year strategic partnership on Wednesday. As part of the deal, Peloton’s content will be available on Lululemon’s exercise app and Lululemon, in turn, will become Peloton’s primary athletic apparel partner.
carmax – Shares fell 13.4%. The used car retailer’s fiscal second-quarter earnings and revenue fell from a year earlier due to weak demand for used cars. The company said it earned 75 cents a share on revenue of $7.07 billion, and it bought 14.9% fewer vehicles from consumers and dealers from last year as a sharp downturn in the market hurt volumes.
Concentrix – Shares rose 6.8% a day after Concentrix said it would raise its quarterly dividend by 10% to about 30 cents a share. Separately, the consumer experience tech company reported adjusted earnings of $2.71 per share on revenue of $1.63 billion, while analysts polled by FactSet had expected Concentrix to earn $2.85 per share and revenue of $1.64 billion.
— CNBC’s Jesse Pound and Christina Cheddar-Burke contributed reporting.
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