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Discover the companies that make headlines at noon
Lyft – Shares of Lyft Airlines fell by almost 3% as CNBC confirmed that its chief operating officer, Jon McNeill, was leaving the company. Before working for Lyft, McNeill worked for Tesla.
Pfizer, Mylan – Pfizer lost more than 2%, while Mylan climbed 13% after the announcement of the combination of its non-patented drug business with Mylan. The all-equity transaction would create a US-based combined company that would sell EpiPen from Mylan and Pfizer Viagra. The twinned company would generate over $ 20 billion in annual sales.
Chipotle – Chipotle shares rose more than 3% after Goldman Sachs named the fast food company as its favorite restaurant stock. The company began hedging Chipotle with a purchase price and a target price of $ 1,000, representing a 28% increase for the stock, and added Chipotle to its buy-by-conviction list. Goldman said digital sales will drive the next stage of rising inventories.
Starbucks – Starbucks shares fell about 1% after JP Morgan said that "the stock's rise from here is limited" and had reduced its company's rating to neutrality over overweight. Starbucks shares have climbed more than 90% in the last 12 months.
Boeing – Boeing, one of the laggards of the Dow Jones Industrial Average, has yielded nearly 1% after badysts at Standard & Poor's credit agencies, Moody's and Fitch, who issued cautious ratings , because of the long crisis of the crisis 737 Max. . S & P notably warned that "Boeing's credit statistics are likely to deteriorate in the coming quarters." Ryanair's CEO, Michael O & # 39; Leary, spoke to Boeing about his company's earnings conference call, saying Ryanair may have to cut jobs if Boeing does not meet soon enough with the company. Regulatory authority ".
Insperity – The shares of the human resources company plunged more than 21% after bringing down the forecast for the third quarter and the full year below Wall Street expectations. The increase in the number of health care claims and smaller hires than anticipated in existing accounts for the second quarter have increased pressure on the stock.
UPS – UPS shares fell 1.6% following a decommissioning of Stifel. The company lowered its holding rating and maintained its target price of $ 118 per share, stating that it did not feel comfortable to sufficiently raise the valuation multiple to continue to recommend the company. 39; purchase. UPS has exceeded the price target set by Stifel after its strong quarterly results last week.
Tower Semiconductor – The circuit manufacturer's share price rose nearly 9%, after a third-quarter turnover, earnings and forecast higher than badysts' expectations for the second quarter. Tower Semiconductor highlighted its organic growth of 11% over the previous quarter and predicts strong demand.
Beyond meat – The company's alternative to meat stocks fell more than 5% on Monday, ahead of its first quarterly earnings report since its initial public offering in May. Since then, the stock has jumped 794% and hit a record $ 239.71 last week. According to data from S3 Partners, nearly 44% of Beyond's outstanding shares are subject to a short circuit.
– Michael Sheetz, Tom Franck and Kate Rooney from CNBC contributed to this report.
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