Mike Blake | Reuters
Check out the companies making headlines in afternoon trading.
SeaWorld Entertainment – SeaWorld shares popped up more than 7%, as Credit Suisse analyst upgraded them to outperform neutral. The analyst raised its price target on the stock from $ 13 per share to $ 30 per share, up 46% from Monday’s closing. The analyst noted three major headwinds for SeaWorld “either completely changed or now fully priced, making us more creative on stocks with relatively low expectations.”
Veer Biotechnology – Weir Boetecology shares climbed more than 3% after the biotech company partnered with its experimental Kovid-19 antibody treatment, with results likely to come before the end of the year, to enter Phase-3 trials. The company said that interim test results may be available by the end of 2020.
Social Capital Hisosporia Holdings Corp III – Shares of Social Capital Hisosophia Holdings Corp III, the special purpose acquisition company of Chamath Palihipitiya, fell more than 10% after the billionaire investor announced the takeover of public-health care startup Clover Health. The deal values Clover for $ 3.7 billion and includes cash proceeds of up to $ 1.2 billion, of which $ 400 million will be provided through a Paliapitia-led private investment in a public entity.
Sonos, Logitech – Shares of device companies declined after Bloomberg News reported. Apple has ordered third-party audio products from its online stores and is doing the same at retail locations. Sonos shares dropped 5.3%, while Logitech dropped 5.5%.
Carnival, Norwegian Cruise Line, Royal Caribbean – Shares of major US cruise operators rose in Washington on Tuesday as investors’ stimulus talks. Carnival and Norwegian grew by 5.2% and Royal Caribbean grew by around 6%.
Boeing – Aircraft maker shares tumbled 2% after lowering its 10-year forecast for new aircraft demand from 11% a year earlier. Boeing said the world’s airlines would need 18,350 aircraft worth $ 2.9 trillion over the next 10 years.
Beyond Meat – Shares of the alternative meat maker jumped 6% after Piper Sandler raised its target from $ 130 to $ 178. Hyper Piper follows Sandler’s latest “Teen Survey”, during which 47% of teens said they eat plant-based meat or are ready to try it.
Costco – Barclays upgraded the stock to an overweight rating after the retailer’s shares gained nearly 1%. The firm raised its price target from $ 330 to $ 400, citing several factors, including “strong” traffic levels.
Alteryx – Shares of the data analytics software company rose more than 25% after announcing that board member Mark Anderson would succeed the company’s co-founder Dean Stoker as CEO. Alteryx also boosted its third-quarter revenue outlook.
Nvidia – Chipmaker’s shares rose nearly 3% after BMO raised its price target from $ 565 per share to $ 650 per share. The Wall Street firm said it sees higher earnings-per-share “potential” as Nvidia continues to innovate with new products and offerings.
– With reporting by CNBC’s Jessie Pound, Fred Embert, Yun Li and Pippa Stevens.