Midday movers: Lowe's and Zoom rise; Unity Software falls

February 27, 2024 8:11 AM EST
(Updated - February 27, 2024 11:06 AM EST) -- Main U.S. indexes were mixed Tuesday, with investors largely taking a breather ahead of the week’s key economic data and corporate earnings.

Here are some of the biggest U.S. stock movers today:​

Lowe’s (NYSE: LOW) stock rose 3% after the DIY retailer reported fourth-quarter net sales that topped estimates despite an ongoing slowdown in spending on home improvement projects.

Macy’s (NYSE: M) stock rose 3.5% after the retailer forecast annual sales largely below market expectations on weak demand for its apparel and shoes, and said it would close 150 stores through 2026 as part of its new turnaround plan.

Zoom (NASDAQ: ZM) stock rose 5.5% after the video-conferencing software provider reported fourth-quarter results that beat estimates thanks to solid demand for its products during a time of increased hybrid working habits.

Workday (NASDAQ: WDAY) stock fell 2% after the cloud-based HR software provider topped profit expectations for the latest quarter but merely met expectations on revenue and reiterated its full-year forecast.

Unity Software (NYSE: U) stock slumped 9% after the videogame software provider forecast full-year revenue below estimates, adding going forward it would only provide revenue guidance for the company’s “strategic portfolio.”

CarGurus (NASDAQ: CARG) stock dropped 7% after the online auto marketplace reported fourth-quarter earnings that slightly surpassed expectations, but also weaker-than-expected guidance for the first quarter of 2024.

Hims Hers Health (NYSE: HIMS) stock soared 30% after the telehealth company said 2024 would be its first year of positive net income and forecast first-quarter and full-year sales that were above expectations.

Intuitive Machines (NASDAQ: LUNR) stock fell 15% after the space exploration company’s lunar mission neared a premature end after a sideways touchdown hindered communications and solar charging capability of its moon lander Odysseus.

AutoZone (NYSE: AZO) stock rose more than 5.5% after the auto parts retailer reported better-than-expected earnings and revenue, while comparable sales growth slightly missed expectations.

Viking Therapeutics (NASDAQ: VKTX) shares surged more than 80% after the company announced positive top-line results from its Phase 2 clinical trial of obesity drug VK2735.

Additional reporting by Louis Juricic

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