A shopping cart is seen in a Target store in the Brooklyn neighborhood of New York, United States, on November 14, 2017.
Brendan McDermid | Reuters
Check out the companies that are making headlines in midday trading.
target – The retail giant saw its shares fall 4.7% despite the release Beats on the top and bottom lines. CEO Brian Cornell increasing costs noted Have an impact on the company as it plans to pay these costs instead of passing them on to the customer.
Visa The card giant’s shares fell 4.7% after reports that Amazon will stop accepting payments with UK-issued Visa credit cards starting next year. This change came shortly after Visa increased its interbank fees on transactions between the UK and the European Union. Mastercard, which has also increased its interbank fees between the UK and the EU, fell 4.5% with Visa.
Lowes – Shares in the hardware store trader rose 0.4% after a better than expected quarterly report. Lowe’s exceeded analysts’ expectations for fiscal third quarter results as the company saw a surge in home improvement and online sales. The company also raised its forecast for 2021, forecasting sales of $ 95 billion versus $ 92 billion.
Tesla – Tesla remained wary of the big price moves recently after CEO Elon Musk sold stocks last week. Electric vehicle shares rose 3.3% on Wednesday.
Rivian – Rivian fell 15.1% in its first lost session since the electric vehicle manufacturer went public last Wednesday. The company quickly overtook traditional automakers like ford and GM Market value since the IPO.
Clear group – Electric vehicle stock slipped 5.4% on Wednesday after rising nearly 24% on Tuesday. Morgan Stanley reiterated its underweight position in Lucid, says there are better EV games out there.
Baidu Baidu shares fell 5.5% even after the China-based e-commerce firm beat sales estimates for the last quarter. Baidu said it benefited from stronger ad sales as well as strength in cloud and artificial intelligence products.
Pfizer, BioNTech Stocks of Covid vaccine makers won after the New York Times reported the FDA will approve the Pfizer / BioNTech Covid-19 booster dose for all adults as early as Thursday. BioNTech gained 5.4% while Pfizer gained 2.6%.
TJX – TJX shares rose 5.8% after the clothing and home retailer reported quarterly gains in sales and earnings. Revenues in the same business also increased 14% in fiscal 2020 compared to the same period.
Activision Blizzard – Activision BIizzard shares fell 2.9% after a group of shareholders called for CEO Bobby Kotick to step down Washington Post reported. The letter comes after a Wall Street Journal report that the alleged Kotick had known of allegations of sexual misconduct in the company for years.
– CNBC’s Yun Li and Tanaya Macheel contributed to the coverage