Let’s take a look at some of the companies that are catching our eye in midday trading. Kroger – The supermarket chain’s shares rose more than 4%. Kroger reported second-quarter earnings, with adjusted profits beating expectations by 2 cents. Revenues missed Wall Street expectations. Petco – The pet retailer’s shares surged 14%. That was driven by a nearly 33% rise in shares after Wednesday’s earnings release, which pushed the stock to an all-time high. Moderna – Shares plunged nearly 16% after the drugmaker said it would cut expenses by $1.1 billion by 2027. Moderna also said it plans to launch 10 new products by 2027, but said it would pause or stop work on some products in its pipeline. Gilead Sciences – Shares rose 2% after the biopharmaceutical company said a second pivotal Phase 3 clinical trial showed its twice-yearly HIV prevention drug lenacapavir reduced infections by 96%, outperforming daily Truvada tablets. Alaska Airlines Group Inc. — The airline’s shares rose 1% after it raised its third-quarter outlook due to strong summer demand. Alaska Airlines told investors to expect earnings per share of $2.15 to $2.25, up from a previous range of $1.40 to $1.60. Interpublic Group of Companies Inc. — The ad stock traded 2% lower after UBS downgraded it to sell from neutral. Analyst Adam Berlin also lowered his 12-month price target. He cited the loss of big customers such as Amazon and Pfizer as the reason for the downgrade, but said investors have not yet fully factored this into the stock’s valuation. U.S. Bancorp Inc. — Bank shares fell nearly 2% despite the company announcing a dividend hike and a $5 billion share buyback plan. Diageo Inc. — Alcohol stocks rose nearly 3% after Bank of America upgraded it to buy from neutral. Bank of America said the company’s toughest period is behind it. Roku — Streaming platform Roku’s shares rose more than 5% after Wolf Research upgraded it to outperform from peer perform. The Wall Street firm said it thinks Roku’s sales growth will accelerate on the back of a reduced cost structure and new sales strategy. Oracle — The software company’s shares rose nearly 2% after Bernstein named it a top investment idea. The firm sees further gains ahead for the company, citing catalysts including the company’s diversified offerings helping to protect against downside risk and increasing revenue growth. — CNBC’s Yun Li, Michelle Fox, Sean Conlon, Samantha Subin, Lisa Kai-Lai Han and Sarah Ming contributed to the report
Follow US
Find US on Social Medias
Popular News
Global Coronavirus Cases
Confirmed
0
Death
0
