People walk past a CVS pharmacy store in the Manhattan neighborhood of New York City.
Shannon Stapleton | Reuters
Check out the companies that are making headlines in midday trading.
CVS The drugstore chain’s shares rose 3.8%, hitting a 52-week high, after the company said Sales will accelerate in the coming year. CVS will introduce new health services and pool its drugstore and insurance businesses.
Hormel foods – Hormel’s shares rose 5.7% after the food maker beat quarterly earnings estimates. The company posted earnings of 51 cents per share for the quarter, one cent above Refinitiv’s consensus forecast. Sales also exceeded Wall Street’s expectations.
RH Home furnishings retailer RH rose 9.6% after reporting above-average profits and revenues that exceeded forecasts. The company also raised the lower end of its sales forecast. Guggenheim also reiterated the share as the best idea say the “catalyst path remains intact”.
Rent the runway – Shares in the fashion rental platform fell by 3.5% in midday trading Losses widened in the third quartereven though sales are up 66% year over year. Amid investor concerns, Rent the Runway has not yet made a profit and the number of active subscribers has not recovered to pre-pandemic levels.
GameStop – The video game retailer saw shares fall more than 6% after the company reported losses that widened in the third fiscal quarter. The company announced that its net loss rose to $ 105.4 million, or $ 1.39 per share, from a loss of $ 18.8 million, or 29 cents per share, last year. The stock, which was once at the center of the meme stock mania, is still up more than 760% this year.
Clear group The electric vehicle startup’s shares rose more than 12% a day after the company announced a proposal $ 1.75 billion convertible bond. Lucid also recently announced that it has a Subpoena from the Securities and Exchange Commission “Requirement for certain documents to be presented in connection with an investigation.”
American Airlines, Boeing American Airlines shares were down nearly 1% after the company said it was Reduction of the flight plan next summer, because it is waiting for Boeing to deliver its 787 Dreamliners. Boeing also plans to compensate the airline. Boeing’s shares plummeted 1.7%.
Southwest Airlines – Southwest stocks fell. more than 3% after Jefferies has downgraded the airline’s stock, citing the persistent inflation that weighs on profitability. Jefferies lowered his rating on Southwest to keep buying and also cut his price target on the stock from $ 60 per share to $ 45 per share.
EVgo – EVgo shares rose 7.1% JPMorgan initiated reporting of the operator of fast charging services for overweight electric vehicles. “We expect the company to achieve above-average sales growth through rapidly increasing fleet acceptance and higher utilization,” noted JPMorgan.
Pfizer – Pfizer shares gained 2% Wells Fargo has started reporting of the stock with an overweight rating. The company said Pfizer’s Covid treatments were in place and could continue to grow the company’s sales in the years to come.
Solid strength – Shares in battery cell maker Solid Power for electric vehicles rose 6.4% at noon. The enterprise debuted on the Nasdaq Thursday morning after completing a transaction with a special acquisition company. Solid Power’s investors include Ford and BMW.
– CNBC’s Yun Li, Maggie Fitzgerald and Tanaya Macheel contributed to the coverage.