Stocks Experiencing Significant Midday Activity: CarMax, Accenture, Peloton, Jefferies Financial Group

Check out the companies making headlines in midday trading.

Trimble — The technology services provider jumped 6.5% Thursday on the back of an announcement that AGCO Corporation will acquire an 85% stake in Trimble’s agribusiness for $2 billion in cash, as the tractor and seeding equipment firm looks to grow its precision agriculture portfolio.

DigitalBridge — Shares of the digital infrastructure company added 4.8% after JPMorgan upgraded the company to overweight from neutral. The firm said DigitalBridge is largely finished with the transformation of its business.

Jefferies Financial Group — The financial services stock rose 1.9% even though the company’s third-quarter profits were hurt by a slowdown in deal-making. After the market closed Wednesday, Jefferies posted earnings of 22 cents per share on revenue of $1.18 billion. Still, the company’s CEO expressed optimism that momentum in investment banking activity will return.

Duolingo — Shares gained 3.2% on Thursday after UBS initiated coverage of Duolingo the day prior with a buy rating, saying it’s a “best-in-class brand.”

Host Hotels & Resorts — Shares gained 3.5% after Wolfe Research initiated coverage of the real estate investment trust with an outperform rating. The firm assigned a $22 price target on the company.

Workday — Shares plunged 8.5% a day after the cloud services company lowered its long-term subscription growth target to a range of 17% to 19%, compared to its previous target of 20%.

Accenture — Shares of the IT and consulting firm fell 4.3% Thursday after Accenture reported mixed results for its fiscal fourth quarter. The company reported $2.71 in adjusted earnings per share on $15.99 billion of revenue. Analysts were expecting $2.65 per share on $16.07 billion of revenue, according to FactSet. The company’s full-year guidance for the upcoming fiscal year for earnings and cash from operations also came in below expectations, according to StreetAccount.

Micron — The chipmaker’s shares fell 4.4% a day after Micron posted a weaker-than-expected earnings forecast. Micron estimates a fiscal first-quarter loss of $1.07 per share, while analysts polled by LSEG, formerly known as Refinitiv, expected a loss of 95 cents. For the fiscal fourth quarter, the company reported a narrower-than-expected loss as well as revenue that topped expectations.

Peloton — Peloton popped 5.4% Thursday. Peloton and Lululemon announced a five-year strategic partnership on Wednesday. As part of the deal, Peloton’s content will be available on Lululemon’s exercise app and Lululemon, in turn, will become Peloton’s primary athletic apparel partner.

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