Check out the companies making headlines at noon. Abercrombie & Fitch — The apparel retailer posted better-than-expected third-quarter results, soaring 33% on strong performance from its Hollister brand. Hollister’s sales rose 16%, offsetting a 2% decline at its namesake Abercrombie & Fitch brand. The company expects Hollister to continue to lead sales growth in the holiday quarter. Nvidia — Nvidia stock fell 4% after The Information reported that Meta Platforms is considering a multibillion-dollar investment in Alphabet’s AI chips, citing people familiar with the matter. Alphabet shares soared to a 52-week high following the news, but were up less than 1% recently. Veralto — Shares of the environmental solutions provider rose 5% after the company announced plans to acquire In-Situ, a provider of water measurement and monitoring systems, for $435 million. Beralto’s board of directors also approved a $750 million share buyback. Cryptocurrency Stocks — Stock prices of cryptocurrency-related companies have fallen as the price of Bitcoin continues to decline. Bitcoin Proxy Strategies fell 3%, trading platform Robinhood fell 1% and crypto exchange Coinbase fell 4%. Home Construction Stocks — Home construction stocks soared on Tuesday as hopes for a December interest rate cut rose. Builders FirstSource rose nearly 7%, while DR Horton, Lennar and PultoGroup all rose nearly 5%. Kohl’s — The department store soared 34% after third-quarter results beat expectations. Kohl’s adjusted earnings were 10 cents a share, compared to analysts surveyed by LSEG who had expected a loss of 20 cents. Revenue of $3.41 billion exceeded the consensus estimate of $3.32 billion. Best Buy — Shares of the electronics retailer rose nearly 6% after the company raised its outlook, saying consumers are replacing video game consoles, laptops and cell phones. Best Buy expects same-store sales to grow 0.5% to 1.2% this fiscal year, an upward revision from its previous forecast of a 1% decline to a 1% increase. Iconic — Robotics stocks rose 35% after fiscal fourth-quarter sales beat analysts’ expectations. The company’s highest profit was $618 million. Analysts had expected sales of $604 million, according to LSEG. Keysight Technologies — Computing and electronics company Keysight reported better-than-expected results, sending its stock up 7%. The company reported fourth-quarter earnings of $1.92 per share, compared to the FactSet consensus of $1.83 per share. Telecommunications and electronics industry revenues of $990 million and $429 million, respectively, exceeded analysts’ expectations. The company also announced a new stock repurchase program worth up to $1.5 billion in common stock. Pony AI — Shares rose 7% after the AI company reported strong third-quarter results and announced plans to expand its robotaxi fleet in China. Amentum Holdings — Shares rose 21% after the engineering and technology solutions company reported better-than-expected fourth-quarter results. Revenue was $3.93 billion, beating the FactSet consensus of $3.61 billion. The company also reported earnings of 63 cents per share, excluding certain items, well above expectations of 59 cents per share. Fluence Energy — The battery storage maker rose 10% as its fiscal fourth-quarter adjusted EBITDA beat Wall Street analysts’ expectations and its order backlog rose to about $5.3 billion as of Sept. 30 from about $4.9 billion at the end of June, according to FactSet data. Fluence also announced its guidance for next year for the first time. Zeta Global — The marketing cloud company soared 6% after raising its fourth-quarter revenue outlook. Zoom Communications — Video conferencing stock rose nearly 13% after third-quarter results beat expectations. The company had adjusted earnings per share of $1.52 and revenue of $1.23 billion. Analyst estimates compiled by LSEG were for earnings of $1.44 per share and revenue of $1.21 billion. Zoom’s fourth-quarter profit forecast also exceeded expectations. Brinker International — The casual restaurateur and parent company of Chili’s saw its stock price rise nearly 8% after Citi upgraded the stock to buy from neutral. The Wall Street company said Brazil’s tariff cuts would ease pressure on its beef outlook. Applied Materials — The chip equipment maker rose 2% after UBS upgraded it to buy from neutral. “AMAT stands out as the biggest beneficiary of this surge in DRAM spending,” the bank wrote of Applied Materials. Alibaba — Shares of e-commerce giant Alibaba rose 2% after the company reported better-than-expected second-quarter results. This number was driven by 34% of cloud revenue. Agilent Technologies — Life sciences shares rose 4% after Agilent’s fourth-quarter profit beat expectations. The company earned $1.59 per share, excluding items, on revenue of $1.86 billion. Analyst estimates compiled by LSEG were for earnings of $1.58 per share and revenue of $1.83 billion. BURLINGTON — Burlington fell 10% after reporting mixed third-quarter results. The off-price retailer reported earnings of $1.80 per share, excluding certain items, beating analysts’ consensus estimates of $1.64 per share, according to FactSet. However, the company’s revenue came in at $2.71 billion, slightly below Street expectations of $2.72 billion. Dick’s Sporting Goods — Shares rose more than 2% after the sneaker company announced it would close some Foot Locker stores as part of a major restructuring to keep Dick’s profits from being squeezed. The company expects comparable sales for the current quarter to be in the mid-to-high single digits. However, the company’s third quarter profit and sales exceeded analysts’ expectations. —CNBC’s Liz Napolitano, Scott Schnipper, Michelle Fox, Yun Li, Fred Imbert, Sarah Ming and Sean Conlon contributed reporting.
