Midday Stock Movers: Direct Digital, Lululemon Rally; Chewy Falls
By Sam Boughedda
Investing.com -- U.S. indices are moving lower Wednesday with the Nasdaq down around 0.7% at midday. Here are the midday movers on Wednesday, March 30th.
BioNTech SE (NASDAQ: BNTX ) is trading just under 6% higher midday Wednesday after the drugmaker reported its fourth-quarter financial data, with earnings and revenue significantly above expectations.
On the other hand, Chewy Inc (NYSE: CHWY ) missed earnings and revenue expectations when it reported Tuesday after the close. The company said it experienced deteriorating operating conditions in the quarter due to the omicron variant, which “disrupted already-weakened supply chains across our industry.” Chewy shares are down just under 14%.
Lululemon Athletica (NASDAQ: LULU ) has jumped 9% after reporting earnings per share of $3.37, beating analyst expectations by 10 cents. The company also issued upbeat guidance for 2022 and announced a $1 billion share buyback program.
Direct Digital Holdings (NASDAQ: DRCT ) is one of the biggest movers so far today, trading 87% above Tuesday's close after reporting higher fourth-quarter revenue of $12.9 million.
RH (NYSE: RH ) is down 12.8% Wednesday after the high-end furniture retailer experienced a softening of demand in the first quarter so far. The company reported revenues of $902.74 million, missing analyst expectations of $931.31 million.
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