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Midday Movers: PagerDuty, Dell, Tesla, Broadcom, and Other Stocks Experiencing Significant Changes

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Stocks Making Significant Moves in Midday Trading

Several companies are grabbing attention in midday trading with notable changes in their stock performance.


Cloud services company VMware experienced a 2.6% slide after delivering a mixed second-quarter report. While earnings per share exceeded expectations, there was a revenue miss.

Lululemon Athletica

Lululemon Athletica saw a 5.2% increase in stock value following an impressive earnings report for the fiscal second quarter. Earnings per share surpassed analyst estimates, and revenue exceeded expectations.


Broadcom, a chip stock, faced a 5% decline after issuing fiscal fourth-quarter revenue guidance slightly below Wall Street estimates. Concerns about competition in the networking chip space contributed to this decrease, despite better-than-expected earnings and revenue for the latest quarter.

Papa John's

Papa John's, the pizza chain, experienced a 2% climb in stock value after receiving an upgrade from Wedbush, moving from neutral to outperform. The upgrade was based on the belief that the shares were undervalued.


PagerDuty's stock declined by 6.7% after the company issued third-quarter earnings guidance that fell short of analyst expectations. The projected earnings per share for the quarter were lower than the consensus estimate, leading to a downgrade by Baird.

A-Mark Precious Metals

Shares of A-Mark Precious Metals soared by 12.2% in midday trading following the company's latest quarterly results announcement and the declaration of a special dividend of $1 per share. Although earnings per share were slightly lower than expected, the company's revenue exceeded estimates.

Dell Technologies

Dell Technologies experienced a significant surge of 22.4% after surpassing analysts' expectations for the second quarter. The company reported higher-than-anticipated adjusted per-share earnings and revenue, leading to positive market response. Morgan Stanley also named Dell a top pick in IT hardware.

Walgreen Boots Alliance

The drugstore chain Walgreen Boots Alliance faced a 5.2% decline in midday trading after the announcement of Roz Brewer stepping down as the company's chief executive and leaving the board.


Shares of Tesla dropped by 4.5% as the electric vehicle maker reduced prices for certain Model S and Model X vehicles in China.


MongoDB witnessed a 5.9% gain after surpassing Wall Street expectations in its latest quarter. The database software maker reported adjusted earnings per share and revenue that exceeded consensus estimates. In conclusion, these midday stock movements reflect the dynamic nature of the market, influenced by a range of factors such as earnings reports, guidance, and executive changes. Investors should closely monitor these developments and consider the potential implications for their investment strategies.

Implications for New Businesses

The midday stock movements of these companies offer valuable insights for new businesses, particularly those preparing for public trading.

Importance of Earnings Reports

The performance of VMware, Lululemon Athletica, and Dell Technologies underscore the impact of earnings reports on stock prices. New businesses must understand the importance of meeting or exceeding earnings expectations to maintain investor confidence and stock value.
Effect of Market Perception
Broadcom's decline, despite better-than-expected earnings, highlights how market perception and future predictions can influence stock performance. New businesses should be aware of market trends and expectations in their industry.


In conclusion, the fluctuating stock prices of these companies during midday trading reflect the volatile nature of the stock market and the various factors influencing investor decisions. New businesses should take note of these dynamics as they navigate their own financial journeys. Understanding the impact of earnings reports, market perception, and industry trends can help new businesses make strategic decisions that positively influence their stock performance.
Story First Published at: https://www.cnbc.com/2023/09/01/stocks-making-the-biggest-moves-midday-pd-dell-tsla.html
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