A monitor displays the signage of Peloton Interactive Inc. during the company’s IPO across the Nasdaq MarketSite in New York, the United States, on Thursday, September 26, 2019.
Michael Nagle | Bloomberg | Getty Images
Check out the companies that are making headlines in midday trading.
Peloton – The inventory of exercise equipment increased by more than 11.7% and reached an all-time high according to Peloton announced that it wanted to buy Device manufacturer Precor for $ 420 million. The deal could help Peloton ramp up production to meet strong demand.
IAC – IAC’s shares rose more than 14.1% on Tuesday after the announcement It spun off its full stake in the video software company Vimeo. Vimeo will become an independent publicly traded company upon completion of the transaction, which is expected in the second quarter of 2021.
Apple – Up 2.9%, Apple helped offset losses on major indices given the iPhone maker’s market cap of $ 2.2 trillion. Investors accredited the strength of the share capital to report that it is Apple Advances in the manufacture of self-driving cars By 2024, the tech firm has a large company named Project Titan.
CarMax – The auto dealer reported quarterly earnings per share of $ 1.42, beating the consensus estimate of $ 1.14 per share. Revenues were also above Wall Street forecasts. However, CarMax shares fell more than 8% after the company reported that comparable used car sales fell 0.8%, compared to a FactSet consensus estimate of 1% more.
carnival, Norwegian cruise line, MGM resorts – Travel-related stocks came under pressure amid ongoing concerns about the UK’s new strain of coronavirus. Carnival lost 5.9%, Norwegian Cruise Line fell 6.9%, and Royal Caribbean fell 3%. MGM Resorts fell 0.5%. Delta Air Lines, American Airlines and United Airlines all fell more than 2.5%.
Sports camp The retailer’s shares rose 39.6% after the company agreed to buy it by Great American Outdoors Group. Cabela’s parent company is paying $ 18 in cash per share of Sportsman’s Warehouse, which is up from the stock’s closing price of $ 12.65 per share on Monday.
Rent-A-Center – The shares of the furniture and electronics rental company gained 1.2% after Loop Capital updated Rent-A-Center to buy from the hold. The investment firm said in a note that the company’s acquisition of Acima was a “game changer.”
Illumina – Illumina shares rose 2.3% after Piper Sandler upgraded the gene sequencing technology maker to an overweight rating. “llumina is well positioned as a leader in the NGS space [next-generation sequencings]and we believe it can hold and build its position by further reducing sequencing costs and leveraging advances in data science … to improve short read performance, “the company said in a statement to customers.
– with reports from Jesse Pound, Pippa Stevens and Tom Franck of CNBC.