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Traders are working on the trading floor of the stock market in anticipation of the IPO of the Blue Apron on the New York Stock Exchange in New York on June 29, 2017
Lucas Jackson | Reuters
Discover the companies that make the headlines Friday noon:
Broadcom – Broadcom shares have fallen more than 6% after the chip maker announced a lower than expected quarterly business figure and reduced its outlook for the entire year. The company cites a "generalized" slowdown in demand, as well as Huawei's crackdown by the US government. The decline of Broadcom is putting pressure on other chip actions, including Skyworks Solutions, Xilinx and Micron Technology.
Chewy – PetSmart Chewy's online trading jumped more than 50% on its first trading day on the New York Stock Exchange. The IPO of the pet retailer online was priced at $ 22 Thursday night and the title was open at $ 36 per share. Like the recent IPOs of Uber, Lyft and Beyond Meat, Chewy is not yet profitable.
BJ's Restaurants – The shares of BJ's restaurants grew 4.3% after an Oppenheimer badyst upgraded the California-based chain to outperform performer. The badyst cited a strong trend in same-store sales and a low valuation against peers in the restaurant chain to justify the upgrade.
Norbord – The shares of Norbord, a manufacturer of wood-based panels, jumped 6% after the company upgraded BMO Capital Markets, which outperformed the market when a competitor placed a of its factories indefinitely. BMO said it would improve the balance between supply and demand as well as prices. The bank also spoke of the consolidation of the sector and the improvement of performance in Europe.
Bluegreen Vacations – Shares of time share developer Bluegreen Vacations have risen more than 36% after a settlement with Bbad Pro. Bluegreen Vacations announced that it would continue its marketing partnership with Bbad Pro retail stores and expand to 75 Cabela stores.
Comcast – The action of telecommunications giant Comcast rose 1.7% after Rosenblatt Securities awarded it a buy rating, citing "an irresistible risk reward" based on Comcast's potential of To increase market share and increase profits.
Facebook – Shares of the social media giant have climbed 1.8% after the company has received support from more than a dozen companies for new cryptocurrency. RBC Capital Markets expects a lot from Facebook's crypto-currency announcement and thinks the company has a "crypto opportunity".
Barnes & Noble – Barnes & Noble shares sold close to 3% after a group of investors said the deal proposed by Elliot Management underestimates the company and the bookseller should look for other offers .
Blue Apron – Blue Apron meal kit provider shares fell by more than 10% after the company announced a one-for-15 split of reverse stock, a method of raising share prices and bringing more liquidity for stocks trading below $ 1. Blue Apron shares are down more than 80% over the past year.
Michael Bloom of CBNBC, Mallika Mitra, Elizabeth Myong, Jesse Pound and Marc Rod contributed to this report.
Disclosure: Comcast is the parent company of NBCUniversal, the owner of CNBC.
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