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Stocks making the biggest moves midday: GameStop, AMC Entertainment, Tesla and more

Here are the stocks making headlines in midday trading.

GameStop — Shares of the brick-and-mortar video game retailer swung wildly and last traded about 32% lower after multiple trading halts. The stock, targeted by the popular WallStreetBets Reddit forum, initially dropped after brokerage firm Interactive Brokers and Robinhood put restrictions on transactions in heavily shorted names like GameStop.

Tesla — The popular electric car maker’s latest profit result fell short of consensus estimates by 21 cents a share, with quarterly per-share earnings of 80 cents. Despite better-than-expected revenues, the stock dropped 3.3% in Thursday’s midday trading. The stock may be down in part in light of the fact that Tesla failed to provide a clear vehicle delivery target for 2021.

American Airlines — Shares of the airline company jumped 3% following a better-than-feared quarterly earnings report. American Airlines beat top and bottom line estimates in its fourth-quarter earnings report, but posted a record quarterly loss. Short covering also contributed to the gains as American Airlines is the most shorted U.S. airline, according to FactSet.

AMC Entertainment – Shares of the movie theater chain dropped 60% and were halted multiple times during morning trading due to volatility. The sell-off comes after the stock rallied 301% in the prior session, amid a frenzy of activity from retail investors.

Apple — Apple shares dipped 2.4% in midday trading despite reporting blowout earnings the evening prior. The iPhone maker earned $1.68 per share for its latest quarter, ahead of a consensus estimate of $1.41 a share. Revenue topped estimates and surpassed $100 billion for the first time. Apple’s quarter was its most profitable ever, helped by high-end iPhones sales.

Facebook — The social media giant’s shares rose less than 1% after reporting better-than-expected earnings. Earnings came in at $3.88 per share, 66 cents above estimates, according to Refintiv. Facebook made $28.07 billion in revenue, higher than the forecast $26.44 billion. Gains were capped by concerns about headwinds in advertising revenue and changes in Apple’s iOS 14.

Levi Strauss – Shares of the retailer dipped more than 7% following cautious comments from management regarding the current quarter as the pandemic forces ongoing store closures. The company did, however, beat top and bottom line estimates for its fiscal first quarter.

Lumen Technologies — The telecommunications company’s shares dropped 13% after Morgan Stanley downgraded the stock to underweight from equal weight. Morgan Stanley said in a note that the recent rise for the stock was mostly caused by short covering and that the company formerly known as CenturyLink faced headwinds in the years ahead.

Whirlpool — Shares of the appliance maker fell more than 9% despite beating on the top and bottom line of its quarterly results. Whirlpool earned an adjusted $6.64 per share, topping estimates of $6.07 per share, according to Refinitiv. The company made $5.80 billion in revenue. higher than the forecast $5.59 billion.

Stanley Black & Decker — Shares of the industrial tool manufacturer rose by 4.4% on Thursday. The company reported fourth quarter revenues of $4.4 billion, up 19% from the prior year. Fourth quarter diluted earnings per share was $3.29, an increase of 51% from the year-ago period. Both measures beat analyst expectations, according to Refinitiv.

Comcast — The cable provider’s share price enjoyed a boost of more than 5%. Comcast also reported its fourth quarter results. Earnings per share rose to 73 cents per share, an increase of 7.4% from the year-ago period. Revenue for the quarter ticked down by 2.4% to $27.7 billion. Both measures beat analyst expectations, according to Refinitiv.

PulteGroup — Shares of the home construction company fell by more than 4% despite better-than-expected earnings results. PulteGroup reported fourth quarter adjusted net income of $1.49 per share, up from $1.14 per share for the same period in 2019. Home sale revenues also climbed to $3.1 billion, an increase of 5% from the prior year period.

— CNBC’s Yun Li, Maggie Fitzgerald, Pippa Stevens, Tom Franck and Darla Mercado contributed to this story.

Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC.

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