RH, Carnival, Universal Health Services and more
Interior Design area of the Restoration Hardware store in the Meatpacking District of New York.
Check out the companies making headlines in midday trading Thursday.
RH — Shares of RH fell 10.6% after the high-end furniture chain slashed its full-year outlook and said consumer demand for its products could continue to soften in the back half of 2022. That pulled other home retail stocks down. Wayfair slid 6%, and Williams-Sonoma lost 3.9%.
Walgreens Boots Alliance — Shares of the drugstore chain fell 5% despite an earnings beat in the company’s most-recent quarter. Walgreens said that a slowdown in demand for Covid-19 vaccines weighed on profits but reiterated its forecast for the full year.
Carnival — Cruise lines fell broadly, building on sharp losses from the previous session. Shares of Carnival slipped 3%. Norwegian Cruise Line Holdings’ dipped 5%, and Royal Caribbean’s dropped 3.7%. Earlier this week, Morgan Stanley cut Carnival’s price target in half and said it could go down to zero.
Universal Health Services — Universal shares fell 5.6% after the hospital and health-care services company announced it is cutting its full-year guidance. The company reported lower patient volumes and revenues in its acute care hospitals.
Pfizer — The stock climbed 2.9% after Pfizer and BioNTech said they would provide 105 million doses of the Covid vaccine in a $3.2 billion deal with the U.S. government. Shares of BioNTech jumped 7.8%.
Spirit Airlines — The airline stock jumped 4% as the battle for Spirit Airlines heated up between JetBlue and Frontier Group. Spirit postponed a shareholder vote on its proposed merger with Frontier Group to July 8. JetBlue shares fell 6%.
Xerox Holdings — Xerox shares declined more than 1% after CEO John Visentin died at age 59. Chief operations officer and president Steve Bandrowczak was named interim CEO.
— CNBC’s Tanaya Macheel and Samantha Subin contributed reporting