Check out the companies making headlines in midday trading: Dollar Tree — Shares tumbled 20% after the discount retailer slashed its full-year outlook for net sales and adjusted earnings per share. Dollar Tree cited increasing pressures on middle- and higher-income customers. GitLab — The software developer’s stock soared 17% thanks to a strong third-quarter earnings outlook. The company forecasts earnings per share of 15 cents to 16 cents for the period, above the 11 cents that analysts surveyed by LSEG had estimated. GitLab’s full-year sales outlook also came in above expectations. Zscaler — The stock lost 18% after the cloud security company’s fiscal first-quarter earnings outlook came in weaker than expected. Zscaler expects to earn between 62 cents and 63 cents per share, below the 73 cents per share analysts were estimating, per LSEG. The company also expects to earn between $2.81 per share and $2.87 per share for the full year. That is below the analyst estimate of $3.33 per share. AST SpaceMobile — Shares spiked more than 19% after the company said it is planning to launch its first five commercial satellites, called BlueBird, on or after Sept. 12 from Cape Canaveral, Florida. AST SpaceMobile also said the satellites will be deployed in low orbit and provide cellular broadband service to billions of individuals worldwide. Asana — Shares plunged 8% on weaker-than-expected third-quarter and full-year forecasts. Asana sees sales for the third quarter coming in between $180 million and $181 million, while analysts expected $182 million, according to LSEG. For the full year, the company expects between $719 million and $721 million in revenue, below the consensus estimate of $723 million. Dick’s Sporting Goods — The sporting goods company’s stock fell more than 6% on the back of tepid full-year guidance. The retailer expects to earn between $13.55 per share and $13.90 per share. Meanwhile, analysts polled by FactSet estimated $13.80 in earnings per share. Hormel Foods — Shares declined more than 7% after the packaged food company reported weaker-than-expected fiscal third-quarter revenue and lowered its full-year forecast. Hormel posted $2.9 billion in revenue for the period, below the $2.95 billion analysts were expecting, per FactSet. Sweetgreen — Shares of the fast-casual chain gained 4% following an upgrade to buy from hold at TD Cowen. As a catalyst, analyst Andrew Charles pointed to Sweetgreen’s introduction of Infinite Kitchens, or its automatic robotic kitchens. ASML — Shares fell nearly 4% on the heels of a UBS downgrade to neutral from buy. The firm sees earnings growth dropping to the mid-teens from 2026 onward, citing a “plateau in litho intensity” and demand normalization. AMD — The chip stock advanced 3%, recovering from losses seen in the previous session. On Tuesday, AMD shares suffered from a steep semiconductor sell-off, falling 7.8%. — CNBC’s Lisa Kailai Han and Michelle Fox contributed reporting.
Source: www.cnbc.com