Stocks making the biggest moves midday: Boeing, Dick’s, Stitch Fix & more

Market Insider

Check out the companies making headlines midday Tuesday:

Boeing — Boeing shares fell 5.4 percent as countries around the world are grounding 737 MAX-8 jets following the model’s second deadly crash in five months. The Federal Aviation Administration still considers the jet to be “airworthy,” but is requiring software updates by the end of April. Lawmakers are calling for the planes to stop flying.

Dick’s Sporting Goods — Shares of the sporting goods retailer dropped 10.59 percent after the company reported weaker-than-expected full-year earnings outlook. Dick’s earned an adjusted $1.07 per share in its fourth quarter, beating the $1.06 expected by Refinitv. The company’s gross margins contracted more than expected, falling by 120 basis points.

Stitch Fix — Stitch Fix surged more than 27 percent after its quarterly results blew away estimates. The company posted earnings per share of 12 cents and revenue of $370 million. Analysts polled by Refinitv expected a profit of 5 cents a share on sales of $365 million.

ADT — ADT plummeted more than 12 percent after the security services company reported a surprise quarterly loss. The company posted a loss of 4 cents a share, while analysts polled by Refinitiv expected a profit of 30 cents.

Coupa Software — The software company’s stock fell more than 4 percent despite the company posting better-than-expected quarterly numbers. Coupa said it made 5 cents per share and $74.9 million in revenue. Coupa shares initially rose as much as 2.59 percent.

Tesla — Tesla shares fell 3 percent after Morgan Stanley raised concern over the company’s price cuts. In a note to clients, analyst Adam Jonas said the cuts reveal an “air pocket” of demand.

—CNBC’s Jessica Bursztynsky contributed to this report.

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