Midday Movers: Salesforce, Delta Air Lines, Victoria’s Secret and More

2022.06.01 20:21

By Liz Moyer

Investing.com — U.S. stocks are lower on the first trading day of June. Here are the midday movers for Wednesday, June 1: 

• Salesforce.com Inc (NYSE:CRM) stock rose 9% after the company reported better than expected quarterly earnings and raised its full-year guidance. The software maker did say it was slowing hiring, as are many other tech companies.
• Delta Air Lines Inc (NYSE:DAL) shares fell 5% even though the company said it would return to the same level of profitability in the second quarter as it did in the same quarter in 2019, before the pandemic. Higher demand and higher ticket prices are offsetting a jump in energy prices.
• Victoria’s Secret & Co (NYSE:VSCO) shares rose 5.8% after the apparel retailer beat expectations for profit per share, reporting EPS of $1.11 compared with estimates for 84 cents. Revenue of $1.48 billion met expectations.
• Medtronic PLC (NYSE:MDT) shares fell 3.3% after Atlantic Equities cut its rating to neutral from overweight. The analysts said Medtronic’s valuation gap had narrowed against competitors.
• S&P Global Inc (NYSE:SPGI) shares fell 3.6% after it said it was suspending financial guidance for 2022. Shares were down by more earlier but have since retraced much of those losses. The company cited deteriorating macroeconomic conditions that have hit its expectations for GDP growth and debt issuance volumes.

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