Stocks making the biggest moves midday: Microsoft, Chewy, GameStop, MongoDB & more

cnbc.com:

In this article

Check out the companies making headlines in midday trading Thursday.

Microsoft — Shares of the technology giant slipped 0.6% after Microsoft cut its earnings and revenue guidance for the fiscal fourth quarter. Microsoft cited unfavorable foreign exchange rates as the reason for the move.

Meta Platforms — Facebook's parent company rose 4.8% after Sheryl Sandberg announced she is leaving her role as chief operating officer. Chief growth officer Javier Olivan will take over the position this fall.

GameStop — Shares of the video game retailer rallied 9.4% after the company posted its quarterly results. GameStop reported $1.38 billion in revenue in its fiscal first quarter, up slightly from the $1.27 billion it reported in the year-ago quarter. But, it also reported a $157.9 million net loss, which is worse than the $66 million net loss in the year-ago quarter. 

Chewy — The pet e-commerce company soared 23.3% after reporting an unexpected profit in the previous quarter. Chewy shared earnings of 4 cents per share on $2.43 billion in revenue. Analysts expected a loss of 14 cents per share on $2.42 billion in revenue, according to Refinitiv.

MongoDB — The database platform provider's stock surged 17.8% after the company's results for the previous quarter topped analyst expectations. MongoDB reported an unexpected profit of 20 cents per share on $285 million in revenue. Analysts had anticipated a loss of 9 cents per share on revenues of $267 million.

Generac — The generator company's stock jumped more than 9.7% after UBS named it a top pick. The investment firm said the downside for Generac's core business was already priced into the market, and the company's push into clean energy gave the stock significant