People are strolling outside the AMC Empire 25 movie theater in Times Square as the city continues its reopening efforts after restrictions were imposed in New York City on December 23, 2020 to slow the spread of the coronavirus.
Noam Galai | Getty Images
Check out the companies that are making headlines in mid-day trading.
Tesla – The electric vehicle maker’s share price rose 4.4% after Tesla Delivery numbers for the first quarter, Street exceeded expectations. The Elon Musk-led company said it had delivered a total of 184,800 vehicles, while analysts were looking for 168,000 deliveries. Wedbush updated Tesla follows the pressure and says it is a “paradigm shift”.
AMC Entertainment – The cinema company’s shares rose 13.5%, according to B. Riley Securities updated the stock to a buy rating. “‘Godzilla vs. Kong’ destroys persistent concerns about the importance of the theater window and shows a solid path to resurgence,” the company wrote in a statement to customers. B. Riley also raised his target for the stock to $ 13, 39% above where the stock closed on Thursday.
carnival, Norwegian and royal caribbean– Carnival and Norwegian cruise lines gained 4.7% and 7.2% respectively after the Centers for Disease Control and Prevention updated their US cruise ship readmission guidelines. Norwegian specifically asked the CDC if they could resume cruises from US ports on July 4th. Royal Caribbean gained 2.9%.
Charles Schwab The brokerage firm rose 2.7% to a 52-week high after Goldman Sachs launched the stock Conviction List The company said Schwab should exceed expectations driven by higher net interest margin and trading due to a heavy exposure to retail. Goldman also raised its 12-month price target for Schwab from $ 67 per share to $ 77 per share.
Roblox The online gaming platform’s shares rose 5.1% after Goldman Sachs initiated coverage of the stock with a buy rating. The Wall Street firm said that by creating and monetizing content, Roblox can outsource the cost of game development to its developers while maintaining the economic advantage. Roblox went public last month via direct listing.
GameStop The video game retailer’s stocks were volatile on Monday, ending the day down 2.4%. The company’s share price fell as much as 14% earlier in the day. The weakness came after GameStop said it could sell up to $ 1 billion in additional shares after a historic Reddit brief squeeze. The company intends to use the proceeds to further accelerate its e-commerce transformation and strengthen its bottom line.
Trimble Shares in the digital construction and agriculture company fell 3.7% after Cathie Woods Ark Innovation bought 453,214 of its shares. Based on Thursday’s closing price of around $ 83 per share, Ark had a purchase value of more than $ 37.6 million.
ford, General Motors – Old auto stocks rose after Wells Fargo on Monday initiated reporting of companies overweight. Ford gained 4.4% while GM’s shares rose 5.6%. Wells Fargo said in two notes that Ford and GM are both poised to lead the way in the next generation of vehicles and transportation.
Planet Fitness The fitness chain’s stocks rose 1.7% after the Wall Street Journal reported that it plans to open up to 100 new locations in the coming fiscal year, adding to its current total of more than 2,100. CFO Tom Fitzgerald told the newspaper that Planet Fitness will also invest in its app.
– with reports from CNBC’s Pippa Stevens, Yun Li, Jesse Pound and Tom Franck.