Pedestrians walk past a Walgreens store in New York.
Michael Nagel | Bloomberg | Getty Images
Check out the companies that are making headlines in midday trading.
Didi – The shares of the Chinese ride-hailing company rose nearly 16% on their second day of trading, climbing back above $ 16 per share. The stock had a muted session on the Wednesday following its IPO, gaining 1% from its IPO price, and closing below its opening price.
CureVac – The German drugmaker’s stock fell 7.6% as the final study analysis showed its Covid-19 vaccine is only 48% effective. An initial evaluation two weeks ago showed an effectiveness of 47%.
Walgreens – The drugstore chain’s shares fell 7.4% even after the company upgraded its annual outlook and reported higher-than-expected earnings and sales for the third quarter of the fiscal year. Walgreens reported adjusted quarterly earnings of $ 1.51 per share, beating the consensus estimate of $ 1.17, according to Refinitiv. Revenue also exceeded forecasts on a recovery in prescription volumes. Investors may be concerned that Walgreens could see slower growth given the slower pace of Covid-19 vaccinations.
Micron Technology – The chip maker lost 5.7% despite beating quarterly earnings estimates by 16 cents per share, reporting $ 1.88 per share. Micron’s sales also exceeded Wall Street forecasts. Micron sold a Utah semiconductor factory to Texas Instruments for $ 900 million in cash.
ZipRecruiter – The online recruiting company’s stock fell 3.44% despite a call from Barclays Thursday morning to give ZipRecruiter an overweight rating that said the stock could rise 20%. Still, U.S. employers have cited labor shortages and difficulties replacing lost jobs from the pandemic.
Coinbase – The stock of the cryptocurrency exchange fell 4.6% after Mizuho reiterated its neutral rating, saying that meager crypto volumes bode “badly” for the remainder of 2021. Coinbase stocks tend to trade in parallel with Bitcoin price, which also traded lower Thursday.
United Airlines – The airline continues to trade 1.5% higher two days after it announced it would be chasing premium customers with larger planes. United expects to hire 25,000 employees by 2026 after placing an aircraft order of 150 units as the company moves from survival mode to rebound mode.
– CNBC’s Yun Li, Jesse Pound and Hannah Miao contributed to the coverage
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