Midday movers: Brown Forman, Campbell Soup, Toll Brothers and more
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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.
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