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Check out the companies that make headlines in midday trading.
Buzz – Shares of the online dating company rose more than 43% in midday trading. Q4 revenue fell short of Refinitiv’s expectations. However, BMO Bumble upgrade to outperform market performancesaid in a note to clients Wednesday that the stock still has significant room to run.
JB Hunt transport service – Shipping company shares rose 2.8% on Wednesday after Goldman Sachs has upgraded JB Hunt Transport buying. The investment firm said it is poised to see significant benefits from easing supply chain bottlenecks.
Repairs – The clothing retailer’s stock fell 3% on Wednesday after Stitch Fix’s third-quarter financial guidance came in below expectations. The company said it expected revenue of $485 million to $500 million in the third quarter, while analysts surveyed by FactSet’s StreetAccount expected $558.6 million. The company also cut its full-year revenue. Truist downgraded Stitch Fix to keep following the report.
XPO Logistics – Shares of XPO rose more than 14% after the company said will only focus on trucking and spun off its brokerage services unit into a separate company. It also said it would divest its business in Europe and operate intermodal in North America.
Netflix – Shares rose 5.7% after Wedbush upgraded the streaming company Neutral ratings from better. “While we do not expect the share price to increase significantly in the near-term, Netflix’s first-mover advantage and large subscriber base provide the company with a competitive edge that is virtually unheard of,” Wedbush said. incomparable to its streaming companies,” said Wedbush.
General Electric Shares of General Electric jumped 4.4% at midday after it was reported that the company’s board of directors approved a $3 billion stock buyback program.
Carnival, Royal Caribbean, Norwegian Cruise Line – Line stocks edged higher on Wednesday as commodity prices fell, including a sharp drop in oil prices. The stocks were up 11%, 7% and more than 10%, respectively, midday.
Amazon – E-commerce stock spiked 2% in midday trading. Barclays maintained its overriding rating on the company, saying the tech giant would consider upward estimate adjustments “likely this year” after moving into higher-margin business units. more profitable like AWS.
PayPal – PayPal is up more than 5% in mid-day transactions. It was downgraded by Bank of America on Wednesday, which said in a note to clients that the stock is “too difficult” to recommend right now until it proves its mettle in the sector. work.
Caesars Entertainment – The casino company’s stock jumped 12% at midday after Jefferies added it to its top picks list and said it liked the management team’s “activity track record.”
Boeing – Boeing spiked 3.8% midday after Langenberg & Company started covering the aerospace company with buy ratings. The move is driven by “accelerated commercial aerospace recovery and expectations that international travel will return to 75-80% of normal levels by the end of 2022,” the analysts wrote.
Starbucks – Shares of Starbucks jumped 4.1% midday following an announcement on Tuesday that the coffee retailer would suspend operations in Russia.
– CNBC’s Maggie Fitzgerald, Hannah Miao, Sarah Min, Jesse Pound, and Tanaya Macheel contributed reporting
