Stock Movers: Dollar Tree, ON Semi, CrowdStrike
On this edition of Stock Movers: - Dollar Tree (DLTR) shares dropped as the company warns that its second-quarter profit may be down 50% from a year ago due to tariff-related costs, including 145% levies on some products from China. The retailer said the timing of expenses will weigh on adjusted earnings per share, including paying 145% levies on some products from China. The chain then expects profit to 're-accelerate' in the remainder of the year. - ON Semiconductor (ON) shares jumped after the chip maker's CEO Hassane El-Khoury stressed that things would only improve following a mixed first-quarter print. - CrowdStrike (CRWD) shares fell after US officials have asked for information related to the accounting of deals it's made with some customers and said the cybersecurity firm is cooperating with the inquiry. The Austin, Texas-based company said in a filing Wednesday that it has gotten 'requests for information' from the US Department of Justice and the Securities and Exchange Commission 'relating to the company's recognition of revenue and reporting of ARR for transactions with certain customers.' ARR refers to annual recurring revenue, a measure of earnings from subscriptions.
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