Check out the companies making headlines in midday trading.
Gap, Nordstrom — Shares of Gap and Nordstrom plummeted after the companies reported disappointing quarterly results late Tuesday citing rising labor costs, inventory issues, shopping costs and factory closures as challenges. Gap shares dropped 22%. Nordstrom tumbled 28%. Shares of other retailers were hurting Wednesday too. Tapestry fell 3.2%, and Ralph Lauren and PVH slid more than 1%.
Autodesk — The software company's shares fell more than 16% despite reporting a beat on the top and bottom lines for its most recent quarter. Autodesk issued fourth quarter earnings and revenue guidance that were largely below estimates.
HP Inc. — HP shares surged more than 10% after a better-than-expected earnings report. The company posted an adjusted quarterly profit of 94 cents per share, 6 cents above the Refinitv consensus estimate. The computer maker also issued a strong outlook amid solid consumer and business demand for personal computers and printers.