People walk outside MGM Resorts International Bellagio Resort and Casino in Las Vegas, Nevada on Tuesday, March 17, 2020.
Joe Buglewicz | Bloomberg via Getty Images
Ad Tech Stocks – The digital advertising industry saw stocks spike Thursday after Google shifted its schedule for phasing out third-party tracking cookies from 2022 to 2023. Trade Desk is up more than 18%, Magnite is up over 10% and PubMatic is up nearly 11%.
Eli Lilly – Eli Lilly’s shares rose 7% after the biopharmaceutical company announced that its treatment for Alzheimer’s disease had received a “Breakthrough Therapy” award from the Food and Drug Administration. The news comes weeks after the FDA approved Biogen’s Alzheimer’s drug.
KB Home – The home builder’s shares fell more than 6% after announcing a quarterly earnings of $ 1.50 per share late Wednesday, ahead of analyst estimates. However, the company missed its sales estimate of $ 1.5 billion to $ 1.44 billion, despite reporting a 13% increase in sales prices and a 145% increase in orders.
Darden Restaurants – Parent company Olive Garden saw its stock rise 3.4% after reporting adjusted quarterly earnings of $ 2.03 per share on Thursday, compared to a consensus estimate of $ 1.79. Darden said sales at the same restaurant increased 90.4% year over year amid the pandemic.
Rite Aid – The drugstore chain’s shares fell more than 13% after the company reported a loss of sales. However, Rite Aid reported adjusted quarterly earnings of 38 cents per share, 16 cents above Refinitiv’s estimates.
MGM Resorts International – Casino stock rose 3.5% after Deutsche Bank upgraded MGM to buy off hold. The company said in a notice to customers that MGM’s cost cuts last year should pay off in higher margins as Las Vegas continues to recover from the pandemic.
Steelcase – The office furniture maker rose nearly 4% after the company reported a smaller-than-expected loss for the most recent quarter on Wednesday. Steelcase posted sales that exceeded Wall Street estimates, and the company said sales will improve sequentially as more employees return to their offices.
Beyond Meat – The plant-based meat company’s shares fell more than 2% after JPMorgan reported that Dunkin ‘recently discontinued the Beyond Sausage breakfast sandwich. The bank also said it believed Dunkin discontinued its breakfast pack of the Beyond Meat product, despite JPMorgan not fully confirming the move.
Dollar Tree – The discount retailer’s shares fell more than 2% after investment firm Piper Sandler downgraded the stock from overweight to neutral. The company issued a notice to its customers that rising inflation, including labor costs, would cut Dollar Tree’s profit margins.
– CNBC’s Hannah Miao, Jesse Pound and Yun Li contributed to the coverage
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