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Norwegian Cruise Line, Micron Technology, Signet Jewelers, Novavax, etc.

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The Norwegian Encore cruise ship in service from the Port of Miami, November 21-24, 2019.

Orlando Sentinel | Tribune News Service | Getty Images

Check out the companies in the spotlight on the midday deal.

Norwegian Cruise Line — Shares of the company have soared after reporting second-quarter results that saw the company underperform Wall Street expectations, showing a utilization rate of just 65%, compared to more than 100% in the same quarter in 2019. It fell nearly 12% on Tuesday. Cruise lines have said they won’t return to pre-pandemic occupancy rates until next year, suggesting losses will continue.

Micron Technology — The chipmaker’s shares fell 5% after the company reported lower demand for its DRAM and NAND chips and said it expected tough market conditions in the fourth quarter of 2022 and the first quarter of 2023. . Several other chip stocks fell. at Micron. Applied Materials, ON Semiconductor and Teradyne each lost about 7%.

Signet Jewelers — After lowering its financial forecasts for the second quarter and full year of fiscal 2023, the jeweler saw its stock price fall about 11.5%, and saw a drop in sales in July as inflation curbed consumer spending. He said sales were down. The company also announced its acquisition of Blue Nile, but said the deal would likely not be reflected in its business until the fourth quarter of his 2024 fiscal year.

Nielsen — Shares of the audience data and analytics company soared more than 21% after the company postponed a court meeting and a special meeting of shareholders. WindAcre currently owns approximately 27% of Nielsen shares.

Ralph Lauren — The luxury retailer is down 7% even after the company posted better-than-expected quarterly results. The company’s first-quarter adjusted earnings were $1.88 per share, according to FactSet, beating analysts’ expectations of $1.71. Ralph Lauren also posted better-than-expected sales, supported by strong demand for high-end apparel.

Principal Financial Group — The investment and insurance company saw its shares rise 7% after reporting strong quarterly results. The company reported non-GAAP operating income of $1.65 per share. That was higher than analysts’ estimates of his 1.39 cents per share, according to FactSet.

News Corporation — The company’s quarterly earnings of 37 cents per share beat estimates of 9 cents per share, according to FactSet, and the stock was up 5%. Earnings of $2.67 billion topped his estimated $2.58 billion.

Novavax — Shares plunged 29% after the biotech company cut its full-year earnings outlook by almost half as demand for its coronavirus vaccine faltered. Novavax expects to generate $2.3 billion in revenue in 2022, compared to $4 billion to $5 billion in previous guidance.

Allbirds — The shoe maker’s stock fell more than 23% after the company lowered its full-year financial forecasts, citing slowing consumer spending. It also announced a number of initiatives to cut costs after reporting a wider quarterly loss than in the previous year.

Occidental Petroleum — Shares of Occidental rose 3.8% following news that Berkshire Hathaway had raised its stake in the oil giant by more than 20%. Warren Buffett has increased his stake in energy producers since March.

— CNBC’s Carmen Reinicke, Yun Li, Sarah Min and Samantha Subin contributed to the report.

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