Midday movers: C3 AI, Costco, Zscaler and more
By Liz Moyer
Investing.com -- Stocks are rising on Friday after Treasury yields cooled off despite continued concern about interest rates staying higher for longer. Here are the midday movers for March 3.
C3 AI Inc (NYSE:AI) shares were up 29% after the artificial intelligence software maker beat revenue expectations and forecast higher-than-expected revenue for the fiscal fourth quarter. Costco Wholesale Corp (NASDAQ:COST) shares fell 3.3% after the warehouse club retailer reported a jump in second-quarter sales but revenue was below consensus estimates and same-store sales growth disappointed.
Zscaler Inc (NASDAQ:ZS) shares fell 10% after the cloud-based security company said it expects billings to drop from the second quarter just ended to the current quarter. It is cutting 3% of its global workforce by the end of fiscal year 2023.
Samsara Inc (NYSE:IOT) shares rose 18.7% after the connected device maker said revenue rose 48% in the January quarter, and Goldman Sachs upgraded the stock to Buy from Neutral.
Victoria's Secret&Co (NYSE:VSCO) shares fell 2.6% after the retailer said the coming months would likely be challenging, expecting first-quarter sales to fall in the mid-single-digit range. Analysts had forecast a drop of 1%. Earnings per share in the first quarter are expected in a range of 30 cents to 60 cents, also lower than analysts estimated.
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