Movers: 1800Flowers, Bed Bath & Beyond, Broadcom, Lululemon, Pagerduty, Starbucks

Barry Adams
02 Sep, 2022
New York City

Energy stocks led the gainers after crude oil prices jumped 3% and natural gas prices hovered near $9 a thermal unit. 

Hess Corp, Marathon Oil, Baker Hughes, Schlumberger and Devon Energy led the most active list gainers with a rise between 2% and 4%.

Dish Network, Generac, Zebra Technologies, 3M, ADP and Equinix led the most active decliners with a loss between 2% and 5%.   

1-800-Flowers.com Inc declined 4.5% to $7.39 after the company reported weak quarterly results.  

The online flower and gift retailer's stock dropped to a low last seen in 2015. 

The online flower and gift retailer said revenues in the fiscal year fourth quarter ending on July 3 declined to $485.9 million from $487 million a year ago. 

During the quarter, the company swung to a loss of $22.3 million or 34 cents a share from net income of $13.3 million or $0.20 a diluted share a year ago. 

Bed Bath & Beyond declined 5.5% to $8.22 and the retailer announced a business and financial restructuring plan a few days ago. 

Broadcom Inc rose 2.2% to $503.31 after the chipmaker reported better-than-expected quarterly results. 

Revenues in the fiscal year third quarter ending on July 1 increased 25% to $8.5 billion. 

Net income rose to $3.1 billion from $1.9 billion and diluted earnings per share increased to $7.15 from $4.20 a year ago.

During the quarter, the company also  repurchased and eliminated 3.2 million shares for $1,792 billion. 

The company also guided revenues in the fiscal fourth quarter ending in October to be $8.9 billion. 

DXC Technology jumped 3.7% to $27.69 in an active trading after the company canceled its presentation to investors at a conference organized by Deutsche Bank. 

The move prompted a speculation that the company may be in a merger discussion with a potential suitor. 

Lululemon Athletica Inc surged 7.2% to $316.34 after the company reported better-than-expected quarterly results. The fitness apparel retailer also offered a positive annual outlook. 

Pagerduty Inc declined 1.0% to $23.86 after the cloud computing company reported better-than-expected results. 

The software as a service provider said the number of customers paying more than $100,000 a year jumped 38% from a year ago. 

Starbucks Corp declined 1.6% to $83.96 after the company appointed Laxman Narasimhan as its new chief executive. 

Narasimhan will join the company from October 1 and work with the founder and interim chief executive Howard Schultz before he takes over the role from April 1, 2023.