Midday stock changes include Tesla, Nike, Carnival, Nvidia, and others.
In lunchtime trade Friday, Tesla stock rose 1.5%. On Thursday, Canaccord Genuity confirmed its buy recommendation on the EV stock ahead of car delivery statistics. Citi maintained its neutral stance on Tesla and cut its car delivery prediction to 450,000 from 468,500. Last week, Barclays predicted that the delivery objective would be missed.
Anheuser-Busch InBevU.S.-listed shares of the beer stock rose 3.2% after the firm upgraded it to buy from neutral, citing an inflection moment for margins and a more inventive portfolio approach.
CarnivalThe cruise line’s stock fell 4.9% in lunchtime trade. Carnival estimated a loss of 10 cents to 18 cents per share for the fiscal fourth quarter, while LSEG, formerly known as Refinitiv, polled analysts who predicted a loss of 10 cents per share. Separately, during the fiscal third quarter, Carnival reported adjusted earnings of 86 cents per share on sales of $6.85 billion, above earnings projections of 75 cents per share and $6.69 billion in revenue. Norwegian Cruise Line is a competitor.
Also fell 3%.
The Blue ApronShares increased by more than 134% after the meal kit firm announced an agreement to be purchased by Wonder Group for $13 a share. That is a 137% premium over Blue Apron’s Thursday closing price of $5.49 per share.
Nvidia shares of the chipmaker rose 1%. In a Friday note, Citi stated that the company’s next edition of its Blackwell B100 GPU will act as a “major stock catalyst” moving into the first half of 2024, as well as boost profits and sales. The company restated its buy recommendation for Nvidia shares.
Nike Shares of the shoe behemoth rose 6.6% following a mixed fiscal first-quarter report. Late Thursday, the business declared earnings of 94 cents per share and revenue of $12.94 billion, whereas LSEG surveyed experts predicted 75 cents per share and $12.98 million in revenue. Nike also reaffirmed its full-year revenue growth target of the mid-single digits.
Walgreens shares of the drugstore behemoth increased by more than 6%. According to Bloomberg, who cited people familiar with the situation, Walgreens is considering Tim Wentworth, a former Cigna executive, as its next CEO. Roz Brewer stepped down as CEO of Walgreens at the end of August.
BumbleThe online dating site gained 3% after Loop Capital Markets raised it from hold to buy. The stock has been “de-risked,” according to the brokerage, and Bumble’s high cash balance and free cash flow creation will assist in maintaining its balance sheet.
International BrinkerChili’s parent rose roughly 2% after Stifel upgraded it to buy from hold. According to the business, Brinker’s strategy plan looks to be comparable to that of other successful turnaround chains.
Corcept Therapeutics, Inc. Shares fell 17% in noon trade as the company deals with continuing lawsuits with Teva Pharmaceuticals. The dispute is around Corcept’s Cushing syndrome therapy Korlym, and Teva have moved to revoke Corcept’s patent on the treatment.
The Texas RoadhouseThe restaurant chain’s stock rose around 1% after Northcoast Research upgraded it to buy, citing a consistent flow of consumer visits to shops.