May 24, 2022

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GameStop, Adobe, General Mills, and more

GameStop, Adobe, General Mills, and more

The General Mills logo is displayed on a can of hazelnut and raisin kernels at Scotty’s Market on September 20, 2017 in San Rafael, California.

Justin Sullivan | Getty Images News | Getty Images

Check out which companies are making the headlines in midday trading.

Adobe Shares of the computer software company fell 10% in afternoon trading. Adobe outpaced earnings, but reported a poor outlook. The company expects to lose $75 million to its business from the Russian-Ukrainian conflict. In the first quarter, Adobe beat estimates by 3 cents, reporting adjusted quarterly earnings of $3.37 per share.

general mills The food company’s share price jumped 2.5% at midday. General Mills reported better-than-expected quarterly earnings and raised its full-year forecast. The company earned an adjusted 84 cents per share, 6 cents above the consensus estimate.

Bushmark Shares of the online apparel market rose 4.6% daily after the company reported a slightly smaller-than-expected loss and outperformed revenue in the fourth quarter. Poshmark also reported weaker-than-expected guidance for the current quarter, which sent stocks lower initially.

Winnebago Shares of the recreational vehicle maker fell 10% in midday trading. Winnebago reported adjusted quarterly earnings of $3.14 per share, beating analyst estimates of $2.94.

Jim Stop -meme stock is up 13% in midday trading Wednesday after the GameStop chair Ryan Cohen on Tuesday He bought 100,000 additional shares. Cohen’s stake in the video game retailer expanded to 11.9%.

Tilray BrandsAnd the Aurora Hemp Cannabis stocks jumped midday after two major industry acquisitions were reported. Cresco Labs will acquire Columbia Care in a $2 billion deal, according to to Reuters. Aurora Cannabis said it is buying TerraFarma in a C$38 billion deal. Tilray fish rose 3.5%, and Aurora Cannabis jumped 1%.

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octa – Okta shares fell more than 8% on the day after the digital authentication company announced that No evidence of persistent harmful activity was found After a hacker hack affected 366 customers. Okta said the hackers only had limited access.

Boeing — The airline industry’s stock lost 2.4% on Wednesday, mostly erasing Tuesday’s rebound, as investors continued to monitor the investigation into a plane crash in China. One of the two black boxes from the flight has been found, which may reveal the cause of the crash, according to Chinese state media.

Mosaic Company – Mosaic’s shares increased by 2.7% in the afternoon trading. Fertilizer stocks remain popular among investors who anticipate huge gains in the future for the company after any shortages in the conflict between Russia and Ukraine.

CNBC’s Tanaya Machel, Jesse Pound and Samantha Suban contributed to this report.