Take a look at the companies making headlines in midday trading: Dollar Tree — Shares fell 20% after the discount retailer cut its full-year net sales and adjusted earnings per share outlook. Dollar Tree cited mounting pressures on middle- and high-income customers. GitLab — Shares of the software developer soared 17% on the back of a strong third-quarter earnings outlook. The company forecasts earnings per share of 15 to 16 cents for the period, above the 11 cents that analysts polled by LSEG had estimated. GitLab’s full-year sales outlook also beat expectations. Zscaler — Shares lost 18% after the cloud security company’s fiscal first-quarter earnings outlook came in weaker than expected. Zscaler expects to earn between 62 cents and 63 cents a share, below the 73 cents a share that analysts had estimated, according to LSEG. The company also expects to earn between $2.81 and $2.87 a share for the full year. That’s below analysts’ estimate of $3.33 a share. AST SpaceMobile — Shares rose more than 19% after the company said it plans to launch its first five commercial satellites, called BlueBird, on or after Sept. 12 from Cape Canaveral, Florida. AST SpaceMobile also said the satellites will be deployed in low orbit and provide cellular broadband service to billions of people around the world. Asana — Shares plunged 8% on weaker-than-expected forecasts for the third quarter and the full year. Asana expects third-quarter sales of $180 million to $181 million, while analysts were expecting $182 million, according to LSEG. For the full year, the company expects revenue of $719 million to $721 million, below the consensus estimate of $723 million. Dick's Sporting Goods — Shares of the sporting goods company fell more than 6% on tepid full-year forecasts. The retailer expects to earn between $13.55 and $13.90 per share. Meanwhile, analysts polled by FactSet estimated $13.80 in earnings per share. Hormel Foods — Shares fell more than 7% after the packaged food company reported weaker-than-expected fiscal third-quarter revenue and lowered its full-year outlook. Hormel posted $2.9 billion in revenue for the period, below the $2.95 billion that analysts had expected, according to FactSet. Sweetgreen — Shares of the fast-food chain gained 4% following an upgrade from TD Cowen to buy from hold. As a catalyst, analyst Andrew Charles pointed to Sweetgreen’s introduction of Infinite Kitchens, or automated robotic kitchens. ASML — Shares fell nearly 4% following a downgrade from UBS to neutral from buy. The company sees earnings growth slowing to about 15% starting in 2026, citing a “plateau in lithography intensity” and normalizing demand. AMD — Chip stock advanced 3%, recovering from losses seen in the previous session. AMD stock suffered a sharp semiconductor selloff on Tuesday, falling 7.8%. – CNBC's Lisa Kailai Han and Michelle Fox contributed reporting.
