Home / Business / Budget Group of Avis, Pfizer, Tesla

Budget Group of Avis, Pfizer, Tesla



Check out the companies that make headlines at noon on Monday:

Electronic Arts: the video game maker rose more than 5 percent after Merrill Lynch of Bank of America upgraded it to buy it neutral. Bank of America also raised its target price in Electronic Arts to $ 110 per share from $ 95.

Loews Corp – The hotel company shares fell 6.2 percent, as Loews reported a loss of 53 cents per share for its fourth quarter report. Lowes revenues in the quarter fell to $ 3.3 billion, more than $ 250 million compared to the same period last year.

Pfizer: one of the world's largest pharmaceutical companies fell 1.5 percent on Monday after its Japanese subsidiary recalled hundreds of thousands of tablets of a drug for high blood pressure. More than 763,000 tablets of the Amvalo drug, manufactured April to July in Mylan, are being withdrawn, Pfizer Japan said in a statement.

Goodyear Tire & Rubber Company – Shares of the multinational tire manufacturing company fell more than 3.5 percent in midday operations after two brokers downgraded. Argus Research reduced equity to a retention rating by citing estimates of reduced earnings and short-term headwinds.

Tesla: the electric car manufacturer recovered after Canaccord Genuity upgraded Tesla to buy, with a new target price representing a 47 percent rise for the share. The firm predicted a greater penetration of electric vehicles and the company came closer to building an affordable car for the masses.

Activision Blizzard – The video game giant fell 7 percent on Monday after a Bloomberg report that plans to announce job cuts "in the hundreds" this week. The layoffs would be part of a restructuring effort as the company faces slow sales, Bloomberg reported, citing unnamed sources familiar with the matter.

Norfolk Southern Corp. – The railroad holding increased 4 percent after delineating a strategic plan that focuses on increasing productivity and revenue growth at its investor conference. Chief Executive James Squires said in a press release that lower costs and greater efficiency "would offer stronger margins."

Avaya Holdings – The multinational technology company that specializes in commercial communications, fell 11.74 percent after its publication of earnings and revenues weaker than expected for its first quarter. The company also named Kieran McGrath as its new CFO, effective February 15, 2019.

-Tom Franck, Kate Rooney, Nadine El-Bawab and Michael Sheetz of CNN contributed to this report.


Source link