All articles tagged with #lamb weston
The article highlights the biggest midday stock movements involving companies like Lamb Weston, KB Home, Carnival, Oracle, and CoreWeave, indicating notable activity in the stock market.
Rivian Automotive shares dropped 19% after announcing plans to raise $1.5 billion in convertible notes and providing preliminary Q3 revenue guidance in line with expectations. Exxon Mobil shares slid over 2.3% due to declining oil prices and uncertain demand outlook. Clorox shares fell 7.7% after offering worse-than-expected Q1 guidance, citing a cyberattack. Orchard Therapeutics shares nearly doubled after being acquired by Japanese pharmaceutical company Kyowa Kirin for $478 million. Lamb Weston shares jumped 10% as the French fry producer beat analysts' expectations and raised its fiscal year guidance.
Lamb Weston Holdings, a supplier to McDonald's, has raised its full-year net sales and profit forecasts, citing higher prices for its frozen potato appetizers and easing cost pressures. The company's shares rose 10% as a result. Lamb Weston has increased product prices to protect margins and is experiencing a decline in volumes due to exiting lower-priced businesses and destocking by retailers in the Asia-Pacific region. The company now expects net sales between $6.8 billion and $7.0 billion for the full year, with earnings per share projected to be between $5.47 and $5.92.