KR, SAIC, PVH, SNOW and more
Check out the companies making the biggest moves midday: Meta Platforms — The Facebook and Instagram parent advanced 4%. Managers led by CEO Mark Zuckerberg are weighing cuts as deep as 30% in Meta’s “metaverse group” in 2026, Bloomberg reported. Kroger – The Cincinnati-based supermarket chain dropped 6.5% after third-quarter revenue lagged Street estimates, identical sales excluding fuel rose 2.6% in the latest quarter against analysts’ consensus estimate for 2.9% and the gross margin came in at 22.8% versus an estimated 23.0%, according to FactSet data. Science Applications International — The technology integration and systems engineering provider to the federal government soared 17%. Third-quarter earnings per share beat the Street consensus by 26% and SAIC lifted full year 2026 and 2027 earnings guidance, FactSet data showed. Management said the improved outlook was supported by rising book-to-bill trends. PVH Corp. — The parent of Tommy Hilfiger and Calvin Klein brands tumbled 10% after issuing disappointing fourth-quarter guidance. PVH expects earnings in a range of $3.20 to $3.35 per share, on a non-GAAP basis, short of the $3.64 per share expected from analysts polled by FactSet. Revenue is seen increasing slightly to the low single digits, versus the FactSet consensus estimate of 3.7%. Salesforce — The software company raised its fourth-quarter revenue guidance, sending shares 2.5% higher. Salesforce, part of the Dow Jones Industrial Average, now expects revenue between $41.45 billion and $41.55 billion. Its third-quarter results were mixed. Snowflake — The cloud-based data storage company slid more than 11% after its outlook for product revenue growth for the January quarter disappointed investors. Snowflake’s third-quarter results topped expectations. Hormel Foods — Shares rose 2% after the Spam maker posted disappointing revenue for the latest quarter, but hinted at a turnaround next year. Hormel said its full-year earnings per share could reach $1.51, excluding one-time items, while analysts polled by FactSet had estimated $1.45 per share. Dollar General — Shares rose 11% after the discount chain lifted full-year guidance. Dollar General now anticipates earnings between $5.60 and $5.80 per share, up from its prior guidance of $5.32 to $5.72 per share and above the $5.53 StreetAccount consensus estimate. The company’s third-quarter results also topped expectations. UiPath — The software stock soared 20% on the heels of better-than-expected third-quarter results. The business software platform posted adjusted earnings of 16 cents per share on revenue of $411 million, above the 15 cents in earnings and $393 million in revenue that analysts surveyed by LSEG had estimated. — CNBC’s Michelle Fox, Alex Harring and Liz Napolitano contributed reporting
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