Global Courant 2023-04-11 17:18:33
Check out the companies making headlines for the bell Tuesday.
AutoMax — Shares of the car dealership rose 7% on better-than-expected quarterly earnings. CarMax earned 44 cents per share, beating Refinitiv’s forecast of 24 cents per share.
Newmont — The stock fell 2.9% in early morning trading following news that Newmont’s price proposal is in its offer to acquire Australia’s Newcrest Mining for $19.5 billion, which is 16% higher than Newmont’s original offer. If the deal goes through, it would further secure Newmont’s position as the world’s largest gold producer.
Upstart — Upstart fell about 2% after JPMorgan began hedging the underweight-rated credit stocks, citing a deteriorating lending environment.
Whirlpool — Shares rose more than 2% after Goldman Sachs upgraded Whirlpool to buy from neutral. The bank said its stock of devices is cheap and could rise more than 20%.
Moderna – The biotech giant fell 4.9% after the company said it is delaying its flu vaccine due to a lack of recorded cases in a late-stage trial. The news comes after a company spokesperson told CNBC on Monday that Moderna hopes to release a slew of new vaccines by 2030 targeting cancer, heart disease and other yet-to-be-confirmed conditions.
Lending club — The lending platform gained 4.8% after JPMorgan classified the stock as overweight. The bank said the LendingClub’s recent sell-off was probably too hard as investors became nervous about financials and the potential for a recession.
bumble — Shares of the matchmaking company rose 1% after Baird initiated Bumble’s cover and gave it an outperform rating, noting that the stock has underperformed the S&P 500 this year and is now trading at a “relatively cheap” valuation. The company assigned a $23 price target to Bumble, suggesting the stock will rise more than 23%.
Array Technologies — Shares of the solar tech company rose 2% after Wolfe Research began coverage of Array with an outperform rating. Wolfe said in a note to customers that Array should benefit from the expansion of utility-scale solar production.
WW International – Shares rose more than 28% after Goldman Sachs said the weight-loss company could triple in value. “WW’s subscriber base and earning power are dwindling, but we believe a turnaround catalyst has emerged with its new obesity drug solution,” Goldman said.
– CNBC’s Brian Evans, Alex Harring, Sarah Min, Samantha Subin and Jesse Pound contributed to the reporting.
(TagsToTranslate)Whirlpool Corp