Global Courant 2023-04-11 21:44:11
Pipettes are on display in the lab of Moderna Therapeutics Inc. in Cambridge, Massachusetts, USA, on Tuesday, November 14, 2017. Moderna began testing this week
Adam Glanzmann | Bloomberg | Getty Images
Check out the companies making headlines during midday trading.
WW International – Shares of parent company WeightWatchers rose 48%. Goldman Sachs upgraded the diet company to a buy of neutral rating late Monday, saying its shares could more than triple if WW International enters the obesity drug market.
AutoMax — Shares of the auto retailer rose 10% after it announced a fourth-quarter profit. CarMax posted earnings of 44 cents per share, while analysts polled by Refinitiv had expected 24 cents per share. Meanwhile, the company’s revenue of $5.72 billion missed analyst estimates of $6.04 billion.
Mohawk Industries — Shares of the flooring manufacturer rose 5% after Loop Capital upgraded the company to buy from its previous hold rating. The company maintained its $115 price target, suggesting Mohawk could gain 21.4% since Monday’s close.
Moderna – Biotech stocks lost about 4% after the company said its flu vaccine trial failed to meet criteria for early success in a late-stage trial. There weren’t enough cases of infection among the people who received the shot, the company said.
Tesla – Elon Musk’s electric vehicle maker gained 1% in afternoon trading on Tuesday. The company ran a slew of new price cuts on its website on Friday, sending shares lower on Monday. The cuts range from 2% to nearly 6% for US vehicles and are the fifth price cut for the EV maker. Stricter standards for electric vehicles to qualify for a $7,500 tax credit have also raised some concern for the company.
WisdomTree — Shares of the financial company gained 3% after the company said it had $1.9 billion in net flows in March. The company now has more than $90.7 billion in total assets under management.
New York Community Bancorp — Shares of the regional bank gained 2.7% after Jefferies upgraded the stock to buy from hold. The investment firm said NYCB’s move to acquire parts of Signature Bank has strengthened its balance sheet.
Whirlpool – Shares of the kitchen and laundry company rose more than 4% on the afternoon after Goldman Sachs upgraded shares from neutral, citing valuation. The company said channel audits show promotions stabilized in North America in March and that could support prices and boost profitability.
Akamai Technologies – Shares rose 2.6% the day after Piper Sandler analyst James Fish upgraded Akamai from neutral to overweight. The analyst said the recent decline in cloud stock, which is down 5% this year, “presents an opportunity to own this contrarian name.”
Lending club — Lending stocks gained 5% after JPMorgan began hedging overweight stocks. The company said the stock may be oversold by investors skittish about balance sheets and the potential for a recession.
Murphy oil — Shares of the natural gas company gained 2.6% after Truist upgraded shares to buy from the hold. The company also raised its price target for the stock from $49 to $56, representing an increase of about 45% from Monday’s closing price.
– CNBC’s Alex Harring, Tanaya Macheel, Sarah Min, Samantha Subin, Brian Evans, Jesse Pound and Pia Singh contributed reporting
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