Stocks making the biggest moves at midday: TSLA, NKE, CCL, NVDA
Tesla CEO Elon Musk arrives at the U.S. Senate Bipartisan Artificial Intelligence Insights Forum at the U.S. Capitol in Washington, D.C., September 13, 2023.
Andrew Caballero-Reynolds | AFP | getty images
See which companies are making headlines in midday trading.
tesla — Shares of the electric car company added 1.5% in midday trading Friday. Canaccord Genuity reiterated a buy rating on EV stocks on Thursday ahead of vehicle delivery data. Elsewhere, Citi remained neutral on Tesla and cut its vehicle delivery forecast to 450,000 from 468,500. Last week Barclays predicted delivery targets would be met.
Anheuser-Busch InBev — The U.S.-listed beer stock rose 3.2% after being upgraded to buy from neutral, with the company highlighting a margin inflection point and a more innovative portfolio strategy.
carnival — Shares of the cruise operator fell 4.9% in midday trading. Carnival had forecast a loss of 10 to 18 cents per share for its fiscal fourth quarter, while analysts polled by LSEG, formerly known as Refinitiv, had expected a loss of 10 cents per share. Separately, Carnival reported adjusted earnings of 86 cents per share on revenue of $6.85 billion for its fiscal third quarter, beating earnings estimates of 75 cents per share and $6.69 billion in revenue. competitor norwegian cruise lines It also fell 3%.
blue apron — Shares soared more than 134% after the meal kit company announced it had agreed to be acquired by Wonder Group for $13 per share. That’s about a 137% premium to Blue Apron’s Thursday closing price of $5.49 per share.
nvidia — Shares of the chipmaker rose 1%. Citi wrote on Friday that the company’s Blackwell B100 GPU iteration will serve as a “key equity catalyst” heading into the first half of 2024 and also boost margins and revenue. The company reiterated its buy rating on Nvidia stock.
Nike — Shares of the sneaker giant rose 6.6% after its mixed fiscal first-quarter report. Late Thursday, the company reported revenue of 94 cents per share and $12.94 billion, while analysts polled by LSEG had expected revenue of 75 cents per share and $12.98 million. Nike also reiterated its mid-single-digit full-year sales growth guidance.
walgreens — Shares of the pharmacy giant surged more than 6%. Walgreens is considering former Cigna executive Tim Wentworth to be its next CEO, Bloomberg reported, citing people familiar with the matter. Roz Brewer has stepped down as Walgreens CEO since late August.
bumble — The online dating platform added 3% after Loop Capital Markets upgraded the stock to a Hold Buy. The company said Bumble’s strong cash balance and free cash flow generation help protect its balance sheet, while the stock is “de-risked.”
Brinker International — Chili’s parent company rose nearly 2% after buying a hold on a Stifel upgrade. The company said Brinker’s strategic playbook is similar to those of other chains that have experienced successful transformations.
corcept treatment — Shares fell 17% in midday trading as the company battles an ongoing lawsuit against Teva Pharmaceuticals. The conflict centered around Corcept’s Cushing’s syndrome drug Korlym, with Teva seeking to revoke Corcept’s patent on the treatment.
Texas Roadhouse — The restaurant chain’s inventory rose about 1% after the upgrades for purchasing, according to Northcoast Research, with the company highlighting a steady flow of customer traffic to its stores.
— CNBC’s Pia Singh, Alex Harring, Michelle Fox, Ha-Kyung Kim and Darla Mercado contributed reporting.