Midday movers: Brown Forman, Campbell Soup, Toll Brothers and more
By Liz Moyer
Investing.com -- Stocks were mixed on Wednesday as investors tried to shake off recession fears ahead of next week's Fed meeting. Here are the midday movers for Dec. 7.
Brown Forman (NYSE: BFb ) stock fell 8% after the maker of Jack Daniels fell short of expectations for profit and revenue in the recent quarter. It expects fiscal 2023 organic sales growth in the single-digit range as supply chain constraints ease.
Campbell Soup Company (NYSE: CPB ) stock rose 5.4% after the food maker delivered profit and net sales for the recent quarter that beat analyst expectations. It is forecasting net sales growth of 7% to 9% for fiscal 2023, up from an earlier forecast of 4% to 6% growth. It also raised expectations for adjusted EPS for the fiscal year.
Toll Brothers Inc (NYSE: TOL ) stock rose 6.4% after the home builder reported better than expected revenue and profit as it delivered more houses in the quarter compared to last year. In related housing news, Lowe’s Companies Inc (NYSE: LOW ), the home improvement store, announced a $15 billion share buyback.
MongoDB (NASDAQ: MDB ) stock rose 21% after the cloud database company beat revenue expectations . It now expects adjusted earnings for the fourth quarter to be between 6 cents and 8 cents a share, beating expectations. It expects a profit for the full year and revenue between $1.257B and $1.26B.
Mobileye Global Inc (NASDAQ: MBLY ) stock rose 8.6% after the maker of cameras and other equipment for cars forecast revenue for the year of $1.831B to $1.849B, higher than what analysts are forecasting. The stock started trading on its own in October after Intel (NASDAQ: INTC ) spun off the company.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or