Levi Strauss, Lamb Weston, Ford, BlackBerry, Paramount, Hubspot, Block, Conagra, and more movers

Levi Strauss reported adjusted fiscal first-quarter earnings that beat analysts' estimates and raised its fiscal year forecasts. The stock jumped 12%. Adjusted earnings of 26 cents per share beat expectations of 21 cents. The jeans maker raised its adjusted earnings forecast for the fiscal year slightly to between $1.17 and $1.27 per share, up from previous guidance of $1.15 to $1.25 per share. Revenue forecasts were unchanged, with Levi Strauss continuing to expect fiscal year growth of between 1% and 3% year-on-year.

Shares of Lamb Weston fell 19% after the potato farm's fiscal third-quarter revenue beat estimates and the company lowered fiscal year guidance due to weak near-term restaurant traffic trends and the transition to a new enterprise resource planning system.

Ford shares fell 3.2% after the automaker said it was delaying some spending on fully electric cars to focus more on hybrid cars. “By the end of the decade, the company expects to offer hybrid powertrains across the entire Ford Blue lineup in North America,” the company said in a statement. Ford said it is “re-timing” its upcoming electric vehicle launches, saying it will produce an all-electric three-row vehicle at its assembly plant in Oakville, Ontario, in 2027, later than its previous 2025 target.

BlackBerry reported fiscal fourth-quarter adjusted earnings of 3 cents per share, compared with a loss of 4 cents that Wall Street had expected. The cybersecurity company's revenue rose 15% to $173 million, beating expectations of $150.5 million. The stock rose 2.5%.

Paramount Global stock fell 8.5% after the stock jumped 15% on Wednesday following a report from the magazine that said Paramount board members had agreed to enter into exclusive merger discussions with Skydance Media. The agreement means that the owner of the Paramount+ streaming service will not be able to receive offers from any other interested parties for 30 days. Apollo Global Management The newspaper reported that the company offered over the weekend to buy the entire company for $26 billion, including debt.

HubSpot stock rose 5% after a Reuters report said Alphabet was in talks with its advisers about making a bid for the marketing software company.

Conagra brands

It rose 5.4% after the packaged food giant reported fiscal third-quarter profits and sales that exceeded analysts' expectations.

The block fell 6.2% to $74.73 after analysts at Morgan Stanley downgraded the payments company's shares to below equal weight and lowered their price target to $60 from $62.

Wayfair was raised to Outperform from In-Line by Evercore ISI, with analysts boosting their price target on the stock to $80 from $65. Shares of the online home furnishings retailer rose 0.5% to $62.72.

Hertz Global shares fell 5% after the car rental company's stock was downgraded to sell from neutral at Goldman Sachs.
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Write to Joe Woelfel at [email protected]