World Wrestling, Bed Bath, Costco

Shoppers line up outside a Costco to purchase supplies after the Hawaii Department of Health on Wednesday advised residents they need to fill up on a 14-day supply of food, water and other necessities for the potential risks of novel coronavirus in Honolulu, Hawaii, U.S. February 28, 2020.

Courtesy of Duane Tanouye via REUTERS

Try the businesses making headlines in midday trading.

World Wrestling Entertainment The wrestling entertainment stock surged nearly 17% after WWE announced that founder Vince McMahon is returning to its board of directors and that the corporate is exploring strategic moves. McMahon stepped down as CEO last 12 months after an investigation into sexual misconduct, but has remained majority shareholder. The Wall Street Journal reported that McMahon is returning to pursue a possible sale of the business.

R1 RCM — Shares of the health-care technology firm soared 10.2% after the corporate raised its revenue outlook for 2023. The corporate also reaffirmed its projection for full-year 2022.

Costco Wholesale — Shares of the big-box retailer jumped about 7.3% after it reported solid sales numbers for December. Costco posted net sales of $23.8 billion in December 2022, marking a rise of seven% year-over-year. Evercore ISI also added Costco to its “fab five” list, saying it is a defensive stalwart.

First Solar — Shares of First Solar rose 7.8% after Wells Fargo upgraded it to chubby, saying Europe’s energy crisis and the Inflation Reduction Act within the U.S. will boost demand for solar energy.

Bed Bath & Beyond — Shares plunged about 22.5% after the retailer warned it was running out of money and was considering bankruptcy. That prompted KeyBanc to chop its price goal by 95% to 10 cents from $2 per share.

Tesla — Shares of Tesla rose by nearly 2.5% after falling to their lowest level in roughly two years earlier within the day. Tesla lowered prices for its Model 3 and Model Y vehicles in Asia.

Silvergate Capital Shares of the crypto-focused bank fell 2.6%, adding to its 42% loss from the day past. JPMorgan downgraded SI to neutral from chubby, citing Silvergate’s worse-than-expected deposit outflows and called into query the corporate’s long-term profitability.

Greenbrier Corporations — Shares fell 17.9% after the rail care maker’s latest quarterly earnings missed analyst estimates, though revenue beat expectations, in response to consensus estimates on FactSet. CEO Lorie Tekorius said higher costs for outsourced parts and materials shortages hurt manufacturing margins.

Agilent Technologies — Shares dropped 2.9%. Agilent said Thursday it is going to partner with Akoya Biosciences to develop solutions for tissue evaluation. Shares of Akoya rose 9.5%.

MGM Resorts International — Shares rose 5.8% after Stifel upgraded the hospitality stock to purchase from hold, saying it is going to profit from a powerful recovery in Las Vegas.

Voya Financial — The financial stock gained 4.7% following JPMorgan’s upgrade to chubby from neutral. The firm cited Voya’s lower-risk business, ability to generate capital and valuation as pluses.

Doximity — Shares dropped 4.7% after Morgan Stanley downgraded the net networking service for medical professionals to underweight from equal weight, saying there shall be an additional slowdown in growth within the health care digital ad space within the 12 months ahead, in response to FactSet’s StreetAccount.

— CNBC’s Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting.

Leave a Comment

Copyright © 2024. All Rights Reserved. Finapress | Flytonic Theme by Flytonic.