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U.S. Midday Stock Moves: GPS, CSCO, WDC, MDLA, OPEN

Daniel SmootStansberry NewsWire
Friday, March 5th, 2021 at 5:46 PM

Advances:

  • Gap (GPS) +5%. GPS's fourth-quarter results beat estimates.
  • Cisco Systems (CSCO) +3.6%. CSCO's shares were upgraded from "neutral" to "overweight" at JPMorgan.
  • Western Digital (WDC) +3.2%. WDC shares were upgraded from "neutral" to "buy" at Goldman Sachs.
  • CoStar Group (CSGP) +3.2%. CSGP announced it was withdrawing its bid to buy CoreLogic.

Declines:

  • Medallia (MDLA) -27%. MDLA's fourth-quarter billings disappointed.
  • Opendoor Technologies (OPEN) -26.1%. OPEN's fourth-quarter earnings were weaker than expected.
  • Virgin Galactic (SPCE) -18.3%. Chairman Chamath Palihapitiya sold 6.2 million shares of SPCE.
  • SmileDirectClub (SDC) -13.5%. SDC's first-quarter earnings outlook was lower than anticipated.
  • The Trade Desk (TTD) -11%. TTD's shares trended downward following an announcement by Alphabet's Google that it would not be supporting hashed emails as identifier alternatives within its products.
  • GuideWire Software (GWRE) -8.4%. GWRE's third-quarter guidance disappointed.
  • CoreLogic (CLGX) -4%. CoStar announced it would not pursue acquiring CoreLogic.
  • Costco Wholesale (COST) -2.7%. COST's second-quarter earnings missed estimates.