Check out the companies making headlines in midday trading. Ally Financial – Shares of the lender fell 17% after Ally CFO Russell Hutchinson said at an industry conference that credit challenges have increased during the third quarter, particularly with auto loans for retail customers. Mission Produce , Calavo Growers – Shares gained 20% after the avocado producer reported a year-over-year revenue increase of 24% for the fiscal third quarter.
Hewlett Packard Enterprise – The tech hardware stocks tumbled nearly 8% after Hewlett Packard announced plans to sell $1.35 billion in Series C mandatory convertible preferred stock. The company intends to use net proceeds to fund its acquisition of Juniper Networks. Rubrik – The data management software company shed 6%, even as second quarter results surpassed Wall Street's estimates. Rubrik reported an adjusted loss of 40 cents per share on revenue of $205.
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