Take a look at the companies making headlines in afternoon trading: Super Micro Computer – Shares fell 26% after the artificial intelligence server company said it would suspend the filing of its annual 10-K form for the fiscal year ending would postpone on June 30. Super Micro Computer said management needs more time to “complete its assessment of the design and operating effectiveness of its internal controls over financial reporting.” Hindenburg Research revealed a short position in the stock on Tuesday. Neurocrine Biosciences – Biopharma stocks plunged 19%. The company reported positive Phase 2 results for its drug for schizophrenia in adults, but investors were concerned about whether the results could be replicated in other studies. Stifel stated in a note on Wednesday that “this data is clearly messier than hoped.” Abercrombie & Fitch – The retailer fell 17% after CEO Fran Horowitz warned of an “increasingly uncertain environment,” suggesting the company is bracing for a tumultuous second half of 2024. Separately, its fiscal second quarter results surpassed the company’s expectations, and Abercrombie raised its full-year sales outlook. Chewy – Shares rose about 16% after the pet retailer reported better-than-expected second-quarter results. Chewy posted adjusted earnings before interest, taxes, depreciation and amortization of $144.8 million. Analysts polled by FactSet expected EBITDA of $111.7 million. AeroVironment – The stock rose 11%. The unmanned aerial vehicle manufacturer has won a nearly $1 billion contract from the US Army to “provide an organic, stand-off capability for dismounted infantry formations capable of destroying tanks, light armored vehicles, hardened targets, defilade and personnel targets.” destroy.” Baird also upgraded AeroVironment to outperform neutral following the news. nCino – The stock fell 12% after the cloud-based banking platform reported third-quarter guidance that was below Wall Street expectations. The company expects third-quarter adjusted earnings of 15 to 16 cents per share, slightly lower than the 16 cents per share expected by analysts polled by FactSet. The company also expects revenue of $136 million to $138 million, below the consensus estimate of $138.6 million. Ambarella – Shares of the semiconductor developer rose more than 10% after the company posted a third-quarter revenue forecast of between $77 million and $81 million. That’s more than the $69 million that analysts surveyed by LSEG expected. Ambarella also posted better-than-expected second-quarter results. Foot Locker – Shares fell about 12% after the retailer missed Street expectations for the second quarter. Foot Locker posted an adjusted loss of 5 cents per share on revenue of $1.90 billion. Analysts had expected a loss of 7 cents per share on revenue of $1.89 billion per LSEG. Nordstrom – The retailer rose more than 4% after second-quarter adjusted earnings beat expectations. Nordstrom also raised the lower end of its full-year outlook. The company now expects fiscal 2024 adjusted earnings of $1.75 to $2.05 per share, compared to the previously expected range of $1.65 to $2.05 per share. JM Smucker – The stock fell about 5% after the consumer food company lowered its full-year guidance. J.M. Smucker now expects earnings of $9.60 to $10 per share for the fiscal year ending April 2025, down from its previous guidance of $9.80 to $10.20 per share. Bath & Body Works – Shares lost more than 6% after the fragrance retailer posted weaker-than-expected second-quarter sales. Bath & Body Works posted second-quarter adjusted earnings of 37 cents per share on revenue of $1.53 billion. Analysts had expected earnings of 36 cents per share on revenue of $1.54 billion, according to FactSet. Box – The cloud storage company rose 8% after better-than-expected second-quarter results. Box reported adjusted earnings of 44 cents per share on revenue of $270 million. Analysts polled by LSEG had estimated earnings of 40 cents per share on revenue of $269 million. PVH – The company, which owns Tommy Hilfiger and Calvin Klein, fell 7% after providing disappointing third-quarter guidance. PVH said it expects adjusted earnings of $2.50 per share for the third quarter, which is significantly lower than the $3.12 per share expected from analysts surveyed by LSEG. The retailer also expects sales to decline 6% to 7% from the same period last year, while analysts expected a decline of 4.6%. Kohl’s – The retailer’s shares rose 2% after fiscal second-quarter earnings beat expectations. Kohl’s earned 59 cents per share for the period, above the 45 cents per share expected by analysts surveyed by LSEG. However, the company missed revenue, posting $3.53 billion, compared to analyst estimates of $3.58 billion. Berkshire Hathaway – Warren Buffett’s conglomerate rose nearly 1%, surpassing the $1 trillion mark for the first time. It is the first non-technology company in the US to reach the coveted milestone. The $1 trillion threshold was crossed just two days before the ‘Oracle of Omaha’ turns 94 years old. The conglomerate’s shares are up 28% this year, significantly outperforming the S&P 500. – CNBC’s Samantha Subin, Hakyung Kim, Yun Li and Pia Singh contributed reporting.
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