Check out the companies that are making headlines in midday trading.
GameStop – The gambling trader’s stocks continued to rally, rising 134.8%. Private investors have pushed the share price up and resisted short sellers. Melvin Capital, GameStop for short, closed his position Tuesday afternoon after losses.
AMC Entertainment – The cinema operator recorded an increase of 301.2%. That’s still a 200% increase over Tuesday. Trading volume has soared for AMC Entertainment – more than 689 million shares switched hands today – as retail investors continue to crack down on short sellers.
Bed bath in addition The household goods retailer shares rose 43.5% from their opening price of $ 42.98 to over $ 50. The company was a favorite carried by speculative traders Retail investors betting against short sellers. Bed Bath & Beyond’s share price has risen despite everything by Baird, who downgraded the company on Wednesday from outperform to neutral.
Microsoft – Shares rose 2% but ended the day 0.25% after the tech giant posted strong quarterly earnings. Microsoft’s revenue rose 17% on an annualized basis, from 12% in the previous quarter, driven by growth in the cloud business Explanation. Microsoft reported earnings per share of $ 2.03 on revenue of $ 43.08 billion. Wall Street expects $ 1.64 per share on revenue of $ 40.18 billion, according to Refinitiv.
Starbucks The coffee chain posted a 6.5% decline in mid-day trading after it announced Tuesday evening that U.S. sales had declined 5% in the first quarter of fiscal as new Covid-19 cases increased. The company also announced that Chief Operating Officer Roz Brewer will leave the company in late February to become CEO of another publicly traded company.
modern micro devices AMD equity fell 6.2% roughly halfway through the trading session after reporting earnings results just above analyst expectations on Tuesday. The earnings per share were 52 cents compared to the expected 47 cents. Despite the beats, after Wednesday’s trading, some analysts wondered if investors had hoped for more from the Santa Clara, California-based chip maker.
Boeing The American aircraft manufacturer’s shares fell 4% on Wednesday morning after the company reported a quarterly loss of $ 15.25 per share, in part due to fees of $ 8.3 billion related to the 737 Max and a delay in the 777-X program. CEO Dave Calhoun told CNBC on Wednesday that the slow roll-out of Covid-19 vaccines will extend a recovery in travel requirement.
F5 networks The application services company’s shares fell 3.5%, despite beating Wall Street estimates for quarterly earnings. F5 reported earnings of $ 2.59 per share, compared to what analysts had expected to be $ 2.47 per share, according to Refinitiv. As expected, the company had sales of $ 625 million.
Texas Instruments – Texas Instruments reported adjusted quarterly earnings of $ 1.64 per share, 30 cents above estimates, while the chipmaker’s revenue was also above estimates, according to Refintiv. However, the chipmaker’s stock fell 5%.
Brinker International – The restaurant company’s shares fell 11.7% after Brinker reported results for the second quarter of the fiscal year. The company reported adjusted earnings per share of 35 cents on sales of $ 761 million, slightly beating Refinitiv’s consensus estimates on both counts. Some analysts pointed out in customer notes that the profit number was increased by a tax break. Brinker said 18% of his chilli’s locations and 31% of his Maggiano’s locations are still closed because of the pandemic.
anthem – Anthem stocks fell 7.2% despite beating Wall Street expectations on the high and low in their fourth quarter report. The insurance company reported earnings of $ 2.54 per share on sales of $ 31.82 billion. Analysts polled by Refinitiv had estimated $ 2.52 per share and $ 30.78 billion in revenue. However, forecasts for earnings in 2021 were lower than expected, according to FactSet.
– with reports from Thomas Franck, Jesse Pound and Darla Mercado from CNBC.
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This article originally appeared on www.cnbc.com
