An AMC movie theater is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York, New York, U.S., January 27, 2021.
Carlo Allegri | Reuters
Check out the companies making headlines in midday trading.
Bed Bath & Beyond, AMC — Shares rose 41% and 13%, respectively, as social media traders appeared to invest in both meme stocks, even without an obvious catalyst.
Signify Health — Shares jumped 13% after a Wall Street Journal report cited people familiar with the matter that CVS Health is planning a bid for the home health services company.
First Solar — First Solar jumped 5% after Goldman Sachs upgraded the stock from neutral to overweight. The bank said the solar technology stock should benefit from the passage of the CCA and raised its price target to $126 from $83 a share.
Rhythm Pharmaceuticals — Shares of the biopharmaceutical rose 7% after Goldman Sachs upgraded it to buy from neutral, saying the stock could rise about 40% after successful trials of its obesity drug.
Barrick Gold — The miner jumped 5% after beating analysts’ expectations in second-quarter results on higher copper production.
Palantir Technologies — Shares of Palantir plunged more than 13% after the software company known for its work with the government reported a loss of 1 cent per share in the latest quarter. Analysts had expected earnings of 3 cents per share, according to Refinitiv. CFO David Glazer told CNBC that the company’s miss was due to a decline in investments and marketable securities.
Tyson Foods — Shares of the food company fell 8% after Tyson missed earnings estimates for its fiscal third quarter. Company executives said on a call with an investor that supply chain problems are hurting its ability to fulfill customer orders, according to a transcript of the call from FactSet.
Nvidia — Semiconductor shares fell more than 8% after Nvidia reported a revenue miss in its second-quarter results. The chip maker generated $6.7 billion in revenue, compared with analysts’ expectations of $8.1 billion, citing weakness in gaming.
BioNTech — The German biotech company partnering with Pfizer on its Covid-19 vaccine fell 9% after reporting earnings and revenue that beat expectations. The company said its variant-adapted Covid-19 vaccine should deliver an uptick in demand in the fourth quarter.
— CNBC’s Tanaya Machill, Jesse Pound, Samantha Subin and Michelle Fox Theobald contributed reporting
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