People wait in line for T-shirts at a pop-up kiosk for online broker Robinhood on Wall Street after the company went public earlier in the day in New York City on July 29, 2021 was.
Spencer Platt | Getty Images News | Getty Images
Check out the companies that are making headlines in midday trading.
Robinhood – Shares in the newly released stock trading app rose 24.2% in midday trading on Tuesday. Robinhood rose above its IPO price of $ 38 per share to over $ 44 per share. ARK Invest’s Cathie Wood has been buying HOOD shares since going public. Headquartered in Menlo Park, Calif., The company is a “top trading stock” on Fidelity, which is generally a good indicator of individual investor interest on any given day.
Take-Two Interactive Software – The video game company’s share price fell 7.7% after the company released a weak outlook and announced delays in new releases for some of its games. Still, Take-Two Interactive’s quarterly earnings and earnings were above estimates, according to Refinitiv.
American Airlines – The airline’s shares fell more than 2% but only closed 0.5% as a surge in Covid cases weighed on the areas of the market that could be hardest hit by new lockdowns. The company also faced disruptions from bad weather and staff shortages. United Airlines and Delta Air Lines also traded lower on Tuesday.
Alibaba – The Chinese e-commerce giant saw its shares fall 1.4% after reporting a loss in sales. Alibaba had sales of $ 31.8 billion in the three months ended June, and fell short of estimates of around $ 32.4 billion, according to the FactSet consensus.
Simon Property Group – The US mall owner’s shares rose 2.6% on the company’s strong quarterly earnings report. Simon Property had sales of $ 1.16 billion, compared to the $ 1.14 billion analysts had expected, according to Refinitiv. The company said sales at its malls and outlet centers returned to pre-pandemic levels in the last fiscal quarter.
Royal Caribbean – Royal Caribbean shares came under pressure, losing 1.3% on concerns over a surge in Covid cases. Last week, the company announced that six passengers on board one of its cruises tested positive for Covid. Norwegian Cruise and Carnival Corporation also fell on Tuesday.
Under Armor – Under Armor stocks rose 7.5% after the sportswear retailer’s earnings and sales beat analysts’ estimates in the second quarter. The company reported adjusted earnings of 24 cents per share on sales of $ 1.35 billion. According to Refinitiv, analysts expected earnings of 6 cents per share on sales of 1.21 billion US dollars. Under Armor has also raised its sales outlook.
Clorox – Clorox declined 9.5% after the household products maker missed its final quarter sales and earnings estimates. Clorox reported adjusted earnings of 95 cents per share on sales of $ 1.8 billion. According to Refinitiv, analysts were targeting earnings of $ 1.35 per share on sales of $ 1.92 billion. Clorox sales declined year over year during the height of the pandemic as consumers stocked up on its cleaning and disinfection products.
Eli Lilly – The pharmaceutical company’s shares rose 3.8% despite the lack of analyst earnings estimates in the quarterly report. Eli Lilly reported earnings of $ 1.87 per share, which is below the $ 1.89 per share expected on The Street. Sales exceeded estimates.
– with reports from Yun Li, Hannah Miao and Pippa Stevens from CNBC.