Check out the companies making headlines in midday trading. Cisco Systems \u2014 The tech company’s shares dropped 4.4% after it posted declining fiscal second-quarter revenue. Cisco also issued a lighter-than-expected forecast for the third quarter and announced a downsizing plan that would lead to a 5% reduction in jobs . Twilio \u2014 The cloud communications stock shed 14% after issuing disappointing first-quarter guidance. Twilio topped fourth-quarter expectations but said it anticipated revenue to range between $1.025 billion and $1.035 billion, versus the $1.049 billion expected by analysts polled by LSEG. EPS estimates also fell short. Super Micro Computer \u2014 The technology name added 8.5% after Bank of America said shares could rise to $1,040, a Wall Street high. That call comes amid a period of monster gains for the stock and in spite of many analysts expecting a sizable pullback ahead. Applovin \u2014 The game developer surged 22% after posting strong fourth-quarter results and current-quarter guidance that surpassed Wall Street’s estimates. For the recent quarter, Applovin reported earnings of 49 cents per share and $953 million in revenue. Wells Fargo \u2014 Shares of the bank popped 5% after it said the Office of the Comptroller of the Currency ended a 2016 consent order. This is the sixth consent order that regulators ended since 2019. The consent orders were put in place following a fake accounts scandal, and required the bank to revamp how it sells and markets products. Deere \u2014 Shares sank 5.4% after the agricultural machinery manufacturer cut its 2024 profit forecast to a range of $7.50 billion to $7.75 billion, versus the previous forecast of $7.75 billion to $8.25 billion. Deere said high borrowing rates hit demand. However, the company beat first-quarter earnings and revenue estimates. Tripadvisor \u2014 Shares jumped more than 6% to a 52-week high following better-than-expected earnings. Tripadvisor earned 38 cents per share, excluding items, on $390 million in revenue. Analysts polled by LSEG forecast a profit of 22 cents per share and revenue of $374 million. Shake Shack \u2014The fast food stock surged 21% after a stronger-than-expected fourth quarter report. Shake Shake earned an adjusted 2 cents per share on revenue of $286.2 million, while analysts surveyed by LSEG expected profit of 1 cent per share on $280.3 million of revenue. The company also said it expected revenue to grow by at least 11% in 2024. Albemarle \u2014 Shares of the lithium producer rose 2% despite a 10% net sales decline in the fourth quarter. Albemarle’s sales of $2.36 billion was above the $2.18 billion expected by analysts, according to StreetAccount. Coinbase \u2014 Coinbase rallied 3% after JPMorgan upgraded shares to neutral, citing the recent rise in cryptocurrency prices. Stellantis \u2014 Shares rallied 6% after the parent company of Chrysler and Fiat announced a new share buyback program. JFrog \u2014 The software development stock skyrocketed 25% after topping Wall Street’s fourth-quarter estimates. JFrog earned 19 cents per share, excluding items, on $97 million in revenue. That topped FactSet estimates 12 cents per share in earnings on $93 million in revenue. Zebra Technologies \u2014 Shares jumped 12% on strong earnings and better-than-expected guidance. The company posted fourth-quarter earnings of $1.71 per share, excluding items, on $1.01 billion in revenue and said it expects a smaller-than-expected decline in revenue growth in the first quarter. Penn Entertainment \u2014 Shares fell more than 13% after the ESPN Bet parent missed Wall Street estimates on the top and bottom line in the fourth-quarter. The results were hurt by higher-than-expected promotions and advertising spending for ESPN Bet, which Penn plans to introduce in North Carolina next month. \u2014 CNBC’s Jesse Pound, Hakyung Kim, Alex Harring, Michelle Fox, Brian Evans and Christina Cheddar Berk contributed reporting<\/span><\/span><\/span><\/span><\/p>\n<\/div>\n<\/div>\n Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":" Check out the companies making headlines in midday trading. Cisco Systems \u2014 The tech company’s shares dropped 4.4% after it posted declining fiscal second-quarter revenue. Cisco also issued a lighter-than-expected forecast for the third quarter and announced a downsizing plan that would lead to a 5% reduction in jobs . Twilio \u2014 The cloud communications…<\/p>\n","protected":false},"author":1,"featured_media":66642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-66641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n