Starbucks Coffee Shop logo seen in one of their stores.
Stephen Zenner | LightRocket | Getty Images
Check out the companies that are making headlines in mid-day trading.
Ulta Beauty – The cosmetics retailer’s shares fell more than 3% after Guggenheim downgraded Ulta from buy to neutral. The Wall Street company expressed concern about the uncertainty of profit margins amid increasing competitive pressures on digital platforms.
Starbucks – The coffeeshop chain’s shares rose 2.8% after BTIG’s stock moved to neutral. The company said in a statement to customers that it expects the restaurant to reopen faster and the new federal stimulus package will result in higher earnings forecasts for Starbucks.
DraftKings – The betting company’s shares rose more than 1% after DraftKings announced it was evaluating its new $ 1.1 billion debt offering in senior convertible bonds. The company originally planned a $ 1 billion offer.
Nikola Corp. The vehicle design company’s shares fell 6.5% after the company announced a $ 100 million common stock offering in a filing with the Securities and Exchange Commission. Nikola said the proceeds will be invested in corporate infrastructure and general business purposes.
AstraZeneca – AstraZeneca shares rose 2.6% after a report stated that the Covid-19 vaccine is recommended in Canada for people 65 and over. The CBC report came after several European countries decided to stop using the vaccine because of concerns about its side effects. Both the World Health Organization and AstraZeneca say the vaccine is safe.
Avis Budget – Avis Budget, meanwhile, lost 7.6% at noon after Morgan Stanley downgraded equity from “overweight” to “equal weight”.
– CNBC’s Maggie Fitzgerald, Jesse Pound, Pippa Stevens and Rich Mendez contributed to the coverage.