Tesla, AMC Entertainment, Charles Schwab and more

People walk outside the AMC Empire 25 theater in Times Square as the city continues reopening efforts following restrictions imposed to slow the spread of the coronavirus on December 23, 2020 in New York City.

Noam Galai | fake images

Check out the companies that are in the headlines for midday trades.

Tesla: The EV company’s stock price jumped 5% after Tesla’s delivery figures for the first quarter beat street expectations. The Elon Musk-led company said it delivered a total of 184,800 vehicles, while analysts expected 168,000 deliveries. Wedbush updated Tesla after print, saying it’s a “paradigm shift.”

AMC Entertainment – Shares in the movie theater company rose 15% after B. Riley Securities raised the stock to a buy rating. “‘Godzilla vs. Kong’ destroys lingering concerns about the importance of theatrical windows and demonstrates a solid path to resurgence,” the firm wrote in a note to clients. B. Riley also raised his target on the stock to $ 13, which is 39% above where the stock closed on Thursday.

Carnival, Norwegian and Royal Caribbean: Cruise operators Carnival and Norwegian gained 4.4% and 6.3%, respectively, after the Centers for Disease Control and Prevention updated its guide to resume travel in US Cruises Norwegian specifically asked the CDC if it can resume cruising from US ports as of July 4. Royal Caribbean added 3.4%.

Charles Schwab – The brokerage was up 2.9% to a 52-week high after Goldman Sachs placed the stock on its Conviction List ahead of its earnings on April 15. The firm said Schwab should exceed expectations driven by a higher net interest margin and operations driven by strong retail engagement. Goldman also raised its 12-month price target on Schwab to $ 77 a share from $ 67 a share.

Roblox: Shares of the online gaming platform rose more than 6% after Goldman Sachs initiated hedging of the shares with a buy rating The Wall Street firm said that Roblox’s content creation and monetization allows it to outsource game development costs to its creators while retaining the economic advantage. Roblox went public through a direct listing last month.

GameStop – The video game retailer’s shares were volatile on Monday, falling nearly 3% around noon. The company’s share price fell as much as 14% earlier in the day. The weakness came after GameStop said it could sell up to $ 1 billion in additional shares following a historic short contraction fueled by Reddit. The company said it intends to use the proceeds to further accelerate its e-commerce transformation and strengthen its balance sheet.

Trimble – Shares of the digital agriculture and construction company rose nearly 4.6% after Cathie Wood’s Ark Innovation bought 453,214 of its shares. Based on Thursday’s closing price of around $ 83 a share, the Ark purchase was worth more than $ 37.6 million.

Ford, General Motors – Traditional auto stocks rose Monday after Wells Fargo began hedging overweight companies. Ford rose 2.4%, while GM shares rose 3.7%. Wells Fargo said in a couple of notes that Ford and GM were poised to be leaders in the next generation of vehicles and transportation.

Pinterest: Stock photo sharing increased 1.8% after The New York Times reported that the company was considering buying social media company VSCO.

Planet Fitness: Shares of the fitness chain rose 1.5% after the Wall Street Journal reported that it plans to open up to 100 new locations in the next fiscal year, adding to its current total of more than 2,100. Chief Financial Officer Tom Fitzgerald told the newspaper that Planet Fitness will also invest in its app.

– with reporting from CNBC’s Pippa Stevens, Yun Li, Jesse Pound and Tom Franck.


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