Skateboarders pass Biogen Inc. headquarters in Cambridge. Massachusetts On Monday, June 7, 2021
Adam Glanceman | Bloomberg |bergGetty Images
Stitch Fix – Shares of Stitch Fix jumped 12% after the online styling service reported better-than-expected third-quarter financial results. The company posted a loss of 18 cents per share, narrower than analyst estimates of 27. Cents per share, according to Refinitiv. Stitch Fix also reported revenue of $535.6 million. Analysts forecast revenue of $511 million.
Clover Health — Clover Health share increased by as much as 100% and last traded by 76% thanks to forum retailers. Reddit’s WallStreetBets put together a Medicare startup that went public through Chamath Palihapitiya Clover’s SPAC, becoming the most discussed name in the chatroom, according to QuiverQuant. Clover has traded over 400 million shares, compared with a 30-day average volume of 22 million shares, according to FactSet. Speculative trading activity was also seen in Wendy’s shares, which were up about 22 percent.
Biogen — The drugmaker’s share fell about 1 percent after Monday’s 38 percent rally. From Biogen’s Alzheimer’s Drug Approval Going by the name Aduhelm, Cowen upgraded the stock to its edge from the market on Tuesday, saying the stock was upside, although few Alzheimer’s patients use the drug.
Marvell Technology — Semiconductor stocks rose more than 4% after Marvell had forecast above the top and bottom lines for its first-quarter report. The report was praised by Wall Street, with investment firm Stifel reiterating its buy rating and JPMorgan back in the news with an overweight rating.
Generac Holdings – Shares of the generator company jumped about 7 percent after KeyBanc upgraded its shares to overweight from the sector’s weight. The company said in a note that concerns about grid stability should increase demand for generators in homes.
Coupa Software — Shares of the software giant tumbled more than 6 percent despite reporting quarterly earnings of 7 cents per share, beating analysts’ expectations of a 19 cent loss per share, according to Refinitiv. At $166.9 million, that was $152.6 million higher than expected.
Contango Oil & Gas — The energy producer’s stock fell nearly 4 percent after agreeing to merge with KKR’s Independence Energy business in the deal. The combined company will have an initial market capitalization of approximately $4.8 billion.
Vail Resorts — Shares of the resort operator fell more than 3 percent in midday trading despite reporting quarterly earnings of $6.72 per share, beating Wall Street’s 18 cents forecast. Season tickets were down 20%, bringing sales up 50% and 33% by units and dollars, respectively. compared to the results before the epidemic
Chico’s — Shares of the clothing retailer rose about 6 percent in midday trading after reporting quarterly earnings that beat Wall Street analyst estimates. The company also said it was taking measures to improve performance and holder value. Stocks in response to letter from activist investor Barington Capital
— CNBC’s Maggie Fitzgerald, Hannah Miao, Jesse Pound and Yun Li contributed to the report.
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