Micron Technology’s headquarters in Boise, Idaho, March 28, 2021.
Jeremy Erickson | Bloomberg | beautiful pictures
Check out the companies making headlines during Tuesday’s midday trading session.
PageSeguro – Stocks up 5.3% after Citi has upgraded its Brazilian payment warehouse to buy from neutral. The company thinks its fourth-quarter earnings are unsurprising and says it’s still struggling, but the stock is more attractive following recent underperformance. Rockalso upgraded by Citi to buy from neutral, also edged higher on Tuesday.
Confirm Postpaid services dropped 6.9% after Apple announced a competing service. Shares of Apple fell about 0.9%.
Random oil and gas Energy stocks surge nearly 4% after regulatory filings show Warren Buffett’s Berkshire Hathaway buy 3.7 million more sharess for $216 million last Monday and Thursday. TD Cowen has upgraded Occidental to outperform the market after the news.
Micro technology — Semiconductor stock fell 2.8% ahead of its scheduled second-quarter earnings report after the bell on Tuesday. Analysts expect revenue of $3.71 billion and earnings per share of $0.67, according to FactSet. Shares of Micron are up more than 14% in the past six months.
PVH — Shares jumped 18.9% after the apparel company’s fourth-quarter adjusted earnings per share hit $2.38, beating estimates of $1.67 per Refinitiv. Its $2.49 billion in revenue beat expectations of $2.37 billion. PVH’s plan for the first quarter and the whole year also exceeded the estimate.
paramount — Shares of the media giant rose 3.6% during midday trading on a Upgrade from Bank of America from neutral to buy. The bank highlighted Paramount’s strong line of assets that could help the business in the event it goes up for sale.
McCormick & Company — The spice maker’s stock price jumped about 10% in midday trading after reporting better-than-expected first-quarter earnings. McCormick reported quarterly earnings of $0.59 per share, while analysts surveyed by FactSet expected $0.50.
alibaba — Stocks soar 12% after the e-commerce giant said it would split its company into six separate business groupswith each group having the ability to raise funds externally and publicly.
Ciena – Technology companies up 4.9% after Raymond James upgrade The stocks to buy strongly from outperform.
Walgreens Shoe Alliance – Shares of the pharmaceutical giant rose more than 3% at midday after the company reported increased quarterly revenue despite a sharp drop in demand for Covid tests and vaccines. Walgreens posted revenue of $34.86 billion in its most recent quarter, compared with analyst estimates of $33.53 billion, according to Refinitiv.
Carnival — The yacht operator’s share price jumped 5.9% on Tuesday after Wells Fargo . Upgrade Festival to balance from underweight. The company says it sees a more balanced risk/reward for the company
— Alex Harring, Yun Li, Jesse Pound, and Michelle Fox Theobald of CNBC contributed reporting.
