Midday movers: C3 AI, Costco, Zscaler and more
Investing.com | Author Liz Moyer
Published Mar 04, 2023 02:24
By Liz Moyer
Investing.com -- Stocks are rising on Friday after Treasury yields cooled off despite continued concern about interest rates staying higher for longer. Here are the midday movers for March 3.
- C3 AI Inc (NYSE:AI) shares were up 29% after the artificial intelligence software maker beat revenue expectations and forecast higher-than-expected revenue for the fiscal fourth quarter.
- Costco Wholesale Corp (NASDAQ:COST) shares fell 3.3% after the warehouse club retailer reported a jump in second-quarter sales but revenue was below consensus estimates and same-store sales growth disappointed.
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Zscaler Inc (NASDAQ:ZS) shares fell 10% after the cloud-based security company said it expects billings to drop from the second quarter just ended to the current quarter. It is cutting 3% of its global workforce by the end of fiscal year 2023.
- Samsara Inc (NYSE:IOT) shares rose 18.7% after the connected device maker said revenue rose 48% in the January quarter, and Goldman Sachs upgraded the stock to Buy from Neutral.
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Victoria's Secret & Co (NYSE:VSCO) shares fell 2.6% after the retailer said the coming months would likely be challenging, expecting first-quarter sales to fall in the mid-single-digit range. Analysts had forecast a drop of 1%. Earnings per share in the first quarter are expected in a range of 30 cents to 60 cents, also lower than analysts estimated.
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