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GMC pickup trucks are listed for sale in a lot at a General Motors dealership in Austin, Texas, January 5, 2023.
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Check out the companies making headlines during midday trading.
Solder — Shares of the consumer engagement platform were up 16%. On Thursday, Braze posted a non-GAAP loss of 13 cents on revenue of $101.8 million. Analysts, according to FactSet, had expected a loss of 18 cents per share and revenue of $98.8 million. Goldman Sachs reiterated its buy rating on the stock following the report, noting that artificial intelligence should help the company gain market share.
Joby Aviation, Sagittarius Aviation – On Friday, Canaccord Genuity kicked off coverage of Joby Aviation and Archer Aviation with a buy recommendation, saying the urban air mobility companies are positioned for the long term. Joby shares were up about 11%, while Archer shares were up 6.2%.
Sonoma Pharmaceuticals — Stocks rose 44%. Sonoma Pharmaceuticals announced Thursday an intraoperative pulse irrigation treatment that could replace IV bags for some surgical procedures.
Tesla, General engines — Tesla gained 4% and General Motors added 1%. On Thursday, the companies announced a partnership that will give GM access to Tesla’s charging stations in North America. GM CEO Mary Barra said it will save the company up to $400 million on its previously announced $750 million investment to build out electric vehicle charging.
DocuSign — DocuSign shares fell 2.5%. In an earnings call Thursday, CEO Allan C. Thygesen said, “We are seeing a more dovish pipeline and cautious customer behavior coupled with smaller deal sizes and lower volumes.” Shares initially rallied during extended trading Thursday after DocuSign beat fiscal first-quarter expectations on the top and bottom lines, posting adjusted earnings of 72 cents per share on $661 million in revenue. Analysts polled by Refinitiv were expecting earnings of 56 cents per share and $642 million in revenue.
Adobe — Shares rose 3.4% after Wells Fargo upgraded the software stock to an overweight rating, saying AI should continue to drive the stock up.
Goal — Target fell about 3.3% after Citi cut retail inventory from buy to neutral, as sales may have peaked at the major retailer.
– CNBC’s Michelle Fox, Alex Harring and Samantha Subin contributed reporting.
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