Here are the companies making headlines in midday trading:
HP Inc. — Shares of the tech company plunged more than 11% after it reported lower-than-expected revenue for the fiscal second quarter. HP generated $12.47 billion in sales for the quarter, while analysts were expecting $12.93 billion, according to Refinitiv. JPMorgan also downgraded the stock to neutral from overweight.
Dollar Tree — Shares of the discount retailer surged 11% following its strong earnings thanks to a change on consumer behavior spurred by the Covid-19 pandemic. Dollar Tree reported earnings per share of $1.04 on revenue of $6.29 billion. Analysts polled by FactSet were expecting earnings of 85 cents per share on revenue of $6.14 billion. Same-store sales soared 7%, compared to the estimate of 4.4%. Family Dollar same-store sales jumped 15.5%, compared to the 8.1% forecast.
