A GameStop logo in Stephen’s Green Shopping Center in Dublin.
Artur Widak | NurPhoto | Getty Images
Check out the companies that are making headlines in mid-day trading.
GameStop The stationary retailer’s shares rose 33.8% after investors failed to receive enough details on their turnaround plan and confirmed in a filing that they were considering selling additional shares. GameStop also missed the top and bottom lines of its Quarterly results on Tuesday.
Dave & Buster’s – The entertainment and arcade company’s shares rose more than 4% but closed just 0.2% after Raymond James reiterated its strong buy Rating before Dave & Buster’s earnings report. The Wall Street company said it sees an “attractive” entry point following the stock’s recent pullback.
General Mills – The food company’s stocks fell 4.2% after General Mills missed earnings estimates in the third quarter. The company made 82 cents per un-itemized share, compared to 84-cents earnings analysts surveyed by Refinitiv. However, revenue topped estimates and came in at $ 4.52 billion versus an expected $ 4.45 billion.
Bank of New York Mellon – Bank stocks fell 2% after Bank of America updated to buy the stocks two notches from underperform. The Wall Street company said the Bank of New York Mellon will benefit from improved sales and earnings prospects, as well as an attractive valuation.
AMC Entertainment – The shares of the film chain then fell by 15.4% Disney said it was pushing back the release of “Black Widow” from May 7th to July 9th. The film will also be available on Disney + along with “Cruella” for an additional rental fee. AMC stocks are down more than 26% so far this week.
FedEx – The shipping giant’s shares rose 0.5% after Barclays named FedEx a top choice. The company said in a notice to its customers that it expects the company’s cash flow to improve in the coming quarters after years of investing those revenues back into the delivery network.
Winnebago –The recreational vehicle inventory fell 7.4% on Wednesday despite a better-than-expected report for the second quarter of the fiscal year. Winnebago earned $ 2.12 per share on revenue of $ 840 million. Analysts surveyed by Refinitiv looked for $ 1.42 per share and $ 805 million in revenue. Shipments of the company’s “Class A” units decreased year on year, although total shipments increased.
Adobe The computer software company’s shares were down 1.9%, despite beating first-quarter earnings estimates and raising fiscal 2021 outlook. Adobe increased its revenue forecast for fiscal 2021 from $ 15.15 billion to $ 15.45 billion. The company also raised its guidance for earnings per share for fiscal 2021 from $ 11.20 to $ 11.85.
Estee Lauder Beauty retailer shares rose 1.3% after Wells Fargo updated Estee Lauder is equally overweight ahead of the third quarter report. The Wall Street company said Estee Laurder’s long-term revenue and margin potential was “attractive”.
Steel case – The office furniture maker shares fell 1% after the company issued a weaker-than-expected forecast as demand for office products remains weak. Steelcase reported earnings per share of 6 cents for the last quarter, beating its refinitive estimate of a 1 cent loss. Sales were also above expectations.
– with reports from Yun Li, Pippa Stevens, Jesse Pound and Rich Mendez from CNBC.