[ad_1]
Find out which companies are making headlines in midday trading.
GameStop – Shares of the game retailer continued to rally, with the stock price more than doubling to top $ 360, up 140%. Retail investors pushed the share price higher, pushing back short sellers. Melvin Capital, which was GameStop short, closed its position Tuesday afternoon after suffering losses.
AMC Entertainment – The theater operator enjoyed a 175% increase, starting the day at $ 20.34, before falling back to around $ 15 per share. That’s still a 200% increase from its closure on Tuesday. Trading volume has risen sharply for AMC Entertainment – over 689 million shares traded hands today – as retail investors continue to push against short sellers.
Bed Bath & Beyond – Shares of the home goods retailer soared more than 35% above $ 50, up from its opening price of $ 42.98. The company has been a favorite among speculative traders, supported by small investors who bet against short sellers. Bed Bath & Beyond’s share price rose despite Baird demoting the company on Wednesday to outperformance neutrality.
Microsoft – Shares rose 2% on strong quarterly earnings from the tech giant. Microsoft’s revenue grew 17% year-over-year due to growth in its cloud business, compared with 12% growth in the previous quarter, according to a statement. Microsoft reported earnings per share of $ 2.03 on revenue of $ 43.08 billion. Wall Street was forecasting $ 1.64 per share on $ 40.18 billion in revenue, according to Refinitiv.
Starbucks – The coffeehouse chain saw its shares fall 5.75% at noon after announcing Tuesday night that its U.S. same-store sales fell 5% in its first fiscal quarter amid a surge in new cases of Covid-19. The company also announced that COO Roz Brewer will leave the company at the end of February to become CEO of another publicly traded company.
Advanced Micro Devices – AMD shares fell 4.8% midway through the trading session after posting earnings results just above analysts’ expectations on Tuesday, with earnings per share of 52 cents from 47 cents expected. Despite the beats, Wednesday’s trading left some analysts wondering if investors had expected even more from the Santa Clara, California-based chipmaker.
Boeing – Shares of the U.S. aircraft maker fell 3% on Wednesday morning after the company reported a quarterly loss of $ 15.25 per share thanks in part to $ 8.3 billion in charges related to the 737 Max and a delay of the 777-X program. CEO Dave Calhoun told CNBC on Wednesday that the slow rollout of Covid-19 vaccines will prolong the pickup in travel demand.
F5 Networks – Shares of the app services company fell more than 3% despite beating Wall Street estimates for quarterly earnings. F5 reported earnings of $ 2.59 per share, compared to $ 2.47 per share expected by analysts, according to Refinitiv. The company achieved sales of $ 625 million, as expected.
Texas Instruments – Texas Instruments reported adjusted quarterly earnings of $ 1.64 per share, 30 cents above estimate, while the chipmaker’s earnings were also above estimates, according to Refintiv. The chipmaker’s stock, however, fell 4%.
Brinker International – Stocks in the catering company fell more than 7% after Brinker reported its fiscal second quarter results. The company reported 35 cents in adjusted earnings per share on $ 761 million in revenue, slightly exceeding Refinitiv’s consensus estimate on both counts. Some analysts have pointed out in customer notes that the profit figure was increased by a tax advantage. Brinker said 18% of its sites in Chile and 31% of its sites in Maggiano are still closed due to the pandemic.
Anthem – Anthem shares fell more than 6% despite beating Wall Street expectations up and down in its fourth quarter report. The insurance company reported $ 2.54 in earnings per share on $ 31.82 billion in revenue. Analysts polled by Refinitiv had reported $ 2.52 per share and $ 30.78 billion in revenue. The revenue forecast in 2021 was lower than expected, however, according to FactSet.
– with reporting from CNBC’s Thomas Franck, Jesse Pound and Darla Mercado.
[ad_2]
Source link