Stocks making the biggest moves midday: KMX, ACN, PTON, JEF

Check out the companies making headlines in midday trading.

Trimble — The technology services provider jumped about 6.4% Thursday on the back of an announcement that AGCO Corporation will acquire an 85% stake in Trimble’s agribusiness for $2 billion in cash, as the tractor and seeding equipment firm looks to grow its precision agriculture portfolio.

DigitalBridge — Shares of the digital infrastructure company jumped 5.8% after JPMorgan upgraded the company to overweight from neutral. The firm said DigitalBridge is largely finished with the transformation of its business.

Jefferies Financial Group — The financial services stock rose more than 2% even though the company’s third-quarter profits were hurt by a slowdown in deal-making. After the market closed Wednesday, Jefferies posted earnings of 22 cents per share on revenue of $1.18 billion. Still, the company’s CEO expressed optimism that momentum in investment banking activity will return.

Duolingo — Shares gained 4.5% after UBS initiated coverage of Duolingo on Wednesday with a buy rating, saying it’s a “best-in-class brand.”

Host Hotels & Resorts — Shares gained 3.8% Thursday after Wolfe Research initiated coverage of the real estate investment trust with an outperform rating. The firm assigned a $22 price target on the company. 

Workday — Shares plunged 8.6% a day after the cloud services company lowered its long-term subscription growth target to a range of 17% to 19%, compared to its previous target of 20%.

Accenture — Shares of the IT and consulting firm fell nearly 5% Thursday after Accenture reported mixed results for its fiscal fourth quarter. The company reported $2.71 in adjusted earnings per share on $15.99 billion of revenue. Analysts were expecting $2.65 per share on $16.07 billion of revenue, according to FactSet. The company’s full-year guidance for the upcoming fiscal year for earnings and cash from operations also came in below expectations, according to StreetAccount.

Micron — The chipmaker’s shares fell 2.7% a day after Micron posted a weaker-than-expected earnings forecast. Micron estimates a fiscal first-quarter loss of $1.07 per share, while analysts polled by LSEG, formerly known as Refinitiv, expected a loss of 95 cents. For the fiscal fourth quarter, the company reported a narrower-than-expected loss as well as revenue that topped expectations.

Peloton — Peloton popped 7% Thursday. Peloton and Lululemon announced a five-year strategic partnership on Wednesday. As part of the deal, Peloton’s content will be available on Lululemon’s exercise app and Lululemon, in turn, will become Peloton’s primary athletic apparel partner.

CarMax — Shares fell 9.5%. The used-car retailer’s fiscal second-quarter earnings and revenue slipped from a year ago on weakening demand for used cars. The company said it earned 75 cents per share on revenue of $7.07 billion, and that it bought 14.9% fewer vehicles from consumers and dealers from the previous year as steep market depreciation hurt volume. 

Concentrix — Shares gained 10% a day after Concentrix said it would hike its quarterly dividend 10% to about 30 cents a share. Separately, the consumer experience tech company posted adjusted earnings of $2.71 per share on revenue of $1.63 billion, while analysts polled by FactSet had estimated Concentrix would earn $2.85 per share and revenue of $1.64 billion.

— CNBC’s Jesse Pound and Christina Cheddar-Berk contributed reporting.