Shoppers wait for the opening of a GameStop store at Tysons Corner Center, in Tysons, Virginia, November 27, 2020.
Hannah McKay | Reuters
Check out which companies are making the headlines at midday Friday.
Jim Stop – Shares of the video game retailer gained about 2%, erasing significant losses overnight, as investors Look beyond the company’s unexpected loss during the holiday quarter. GameStop said it will launch a new marketplace for non-fungible tokens, or NFTs, by the end of the second quarter.
FedEx FedEx shares fell 5% after the company missed earnings estimates for the quarter. company Outperforms revenue but said labor shortage Amidst an omicron variable outbreak is detrimental to the end result.
Tesla – The stock gained 2.9% after that Morgan Stanley reiterated its overweight rating on Tesla. The call came after CEO Elon Musk tweeted that he was “working on part three of the master plan.” Morgan Stanley said it sees “Part 3 as mass fabrication, flywheel netting and ‘connecting the points’ across adjacent TAMs.”
Moderna – Moderna shares rose 4.4% on the news Seeking FDA approval for second Covid-19 booster dose For adults 18 years or older. Pfizer and her partner Biotechnology Asking for approval of a Covid-19 booster dose for those 65 and older this week.
Amphitheater rental – Shares of the fashion rental company are up 30% after that Jefferies started covering the company With a buy rating, noting the company’s large barrier to entry could help it drive earnings growth of up to 50%. Jeffries too Coverage has begun subordinate RealRealAnd the Farfetch And the porridge With purchase reviews. Shares rose 9%, 5% and 4%, respectively.
june Craft retailer inventory fell 10.7% after the company reported disappointing quarterly sales for the previous quarter. Juan also saw a $60 million increase in ocean freight costs last year — one of many supply chain disruptions. Piper Sandler Downgrade Retailer To neutral from overweight.
wing stop Chicken Wings Restaurant Franchise Shares It fell nearly 5% in midday trading After Piper Sandler lowered the stock’s rating to underweight from overweight. The company expects the stock to face resistance in the near term.
Garmin Consumer electronics shares rose 2.7%. Upgrade heels for Bank of America purchases. Bank of America said in a note to clients that the stock’s recent decline makes Garmin a candidate for a drop given its strong fundamentals.
US Steel US steel stocks fell 6% after issuing weaker-than-expected guidance for the quarter, and the company cited rising raw material costs as a contributor.
CNBC’s Yun Lee, Jesse Pound, Hana Miao, and Maggie Fitzgerald contributed reporting
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