hookup app info night clubs in tunisia Hookup spots Douglassville Free hookup Newington

Tesla, Zoom, Hasbro, Philips and more

Zoom founder Eric Yuan speaks at the opening bell of Nasdaq on April 18, 2019 in New York City.

Hit by Betancur | Getty Images

Check out the companies that are making the headlines in midday trading.

Hasbro – The toy maker’s stocks rose more than 12% after beating the top and bottom lines of quarterly results. Hasbro reported earnings of $ 1.05 per share, according to Refinitiv, beating estimates by 58 cents. Revenue was $ 1.32 billion, compared to the $ 1.16 billion forecast by The Street.

Tesla – Tesla shares were up 3.4% at noon before the electric vehicle maker’s earnings report for the second quarter after the bell was released. Analysts expect key insights into the company’s business in China, Bitcoin inventories, full self-drive capability, and new manufacturing facilities in Germany and Texas.

Lockheed Martin – The defense company lost more than 3% in its share price after reporting quarterly earnings of $ 6.52 per share, missing analysts’ estimates by a cent, even though sales exceeded estimates. The results report also included a 61 cents fee related to performance issues with a classified program.

Zoom Video – The video conferencing company’s shares rose 3.7% Monday after the Bank of American named Zoom Video a top pick. The company announced to its customers that the takeover of Five9 by Zoom would be a “game changer” in corporate communications.

Lowe’s – The hardware store company’s stock fell 1.7% after Wedbush downgraded it from above-average to neutral and said the tailwinds were easing. “Supported by comments from major suppliers, we expect a leading indicator of a downturn to emerge this quarter,” said the Wedbush analyst.

Six Flags – Six Flags shares rose about 3.6% after Wedbush upgraded the stock from a neutral rating to an outperform rating. The company called Six Flags a “compelling” reopening game. “SIX represents a fascinating combination of massive underperformance during the course of the pandemic, manageable headwinds during the reopening and a significant but realistic margin improvement story after the pandemic,” the company said.

Gap – The retailer’s shares rose 2.3% after Deutsche Bank upgraded the stock to a buy rating. The company said Gap is “making a comeback in improving profitability”. Deutsche Bank has a target of $ 42 for the stock, which is 44% above its price, which closed on Friday.

PerkinElmer – PerkinElmer shares rose more than 3% after the life science company announced the acquisition of BioLegend, a provider of antibodies and reagents. The deal is valued at around $ 5.25 billion in a combination of cash and stocks. PerkinElmer said in a press release that the transaction will be the largest in the company’s history.

Philips – Philips stock fell about 4.2% despite the company reporting better-than-expected results for the second quarter. Dutch Health Technology added 250 million euros to a previous provision related to the recall of breathing equipment and ventilators.

Check Point – The software company’s stocks ticked 3.2% lower despite posting better-than-expected earnings and earnings before the bell. Check Point reported earnings of $ 1.61 per share on sales of $ 526 million. Wall Street estimated a profit of $ 1.56 on sales of $ 524 million, according to Refinitiv.

Didi Global – The shares of the Chinese driver service provider stabilized on Monday, falling over 2%. The stock fell more than 20% on Thursday and Friday and has fallen about 50% since July 1 as China cracks down on tech companies. On Monday, Atlantic Equities downgraded the stock to neutral, saying stocks would likely remain volatile for the remainder of the year.

TAL Education – TAL Education stocks continued to fall after reports on Friday that the Chinese government cracked down on educational institutions that included a ban on foreign investment. The share lost around 17% in midday trading. Goldman Sachs downgraded the stock to a neutral rating and Bank of America double downgraded the stock to an underperform rating. Both companies cited regulatory uncertainties for the Chinese education company.

Tencent Music Entertainment – The shares of the China-based music platform fell about 4.5% after Chinese regulators ordered the company to end its exclusive music licensing deals with global record labels within 30 days. Tencent Music has also been fined more than $ 77,000 by Chinese antitrust authorities. The stock is down more than 30% this month.

– CNBC’s Maggie Fitzgerald, Pippa Stevens, Jesse Pound, Tanaya Macheel and Yun Li contributed to the coverage

Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign in to get started Try it for free today

Comments are closed.