Zoom Video — Zoom fell more than 14% after missing revenue estimates for the previous quarter due to the strong dollar. The video conferencing company also cut its full-year guidance amid slowing revenue growth. Twitter – Shares of the social media network fell 6% after complaints filed with the Securities and Exchange Commission, the Federal Trade Commission and the Justice Department by a company whistleblower alleging “extreme, egregious deficiencies by Twitter” regarding privacy, security and content control. Palo Alto Networks – Shares of Palo Alto Networks jumped 11% after the company reported a rise in earnings on Monday, driven by strong billings that rose 44% in the quarter. The cybersecurity company also raised its quarterly and annual guidance, boosted its buyback program and announced approval of a 3-for-1 stock split. Macy’s – Shares of the department store rose more than 4% after the retailer reported second-quarter profit and revenue that beat analysts’ expectations. Macy’s also teased that its digital marketplace, which was announced last year, will launch in the coming weeks. However, the company lowered its full-year forecast, saying it expects a deterioration in consumer spending on discretionary goods such as apparel, which will lead to large write-offs for moving items off the shelves. Dick’s Sporting Goods — Shares rose 2% after the sporting goods retailer beat estimates on profit and revenue in its second-quarter results and also raised its full-year financial outlook. Medtronic — Shares of Medtronic fell 3.4% despite falling revenue and profit in the latest quarter. The medical device maker said revenue fell from a year ago as it grapples with supply chain constraints. JD.com — Shares of the China-based e-commerce company rose 3.8% after the company beat analysts’ expectations on the top and bottom lines in the latest quarter. JD.com also said annual active customer accounts rose 9.2 percent. XPeng — XPeng sank 8.8% after posting a bigger-than-expected loss last quarter. The China-based electric vehicle company beat revenue expectations but said deliveries nearly doubled from the year-ago period. JM Smucker – Shares of the food company rose more than 3% on Tuesday after JM Smucker’s adjusted first-quarter earnings beat expectations at $1.67 a share. Analysts polled by Refinitiv had penciled in $1.27 per share. Revenue was in line at $1.87 billion. The gains came despite a hit from the Jif peanut butter recall Grocery Outlet Holding – Shares of the discount grocery chain fell 4% after Morgan Stanley downgraded it to underweight from equal weight. The company reported negative numbers on Grocery Outlet Holding’s 2023 estimates and not as bullish on its 2022 estimates. The stock is already up more than 40% this year. Pinduoduo — The e-commerce stock jumped 6.2% amid news that it is reportedly preparing to launch an international e-commerce platform next month targeting North America. — CNBC’s Carmen Reinicke, Yun Li, Sarah Min, Tanaya Macheel, Jesse Pound and Michelle Fox contributed to this report.
