A customer walks at the entrance of a CVS Health Corp. store in downtown Los Angeles, California, U.S., on Friday, October 27, 2017.
Christopher Lee | Bloomberg | Getty Images
Check out the companies making headlines during their midday trading.
US Steel – Bucking fell in a broader market.US Steel shares were up 5.8 percent in midday trading after Credit Suisse adjusted the stock price better on lower performance, analyst Curt Woodworth told clients in a note. That soaring steel price makes it clear that the industry is in a “Super Cycle”; phase. He sees US steel stocks up 42% from Monday’s close.
CVS Health – Shares of the drugstore retailer were up 3.8 percent after 11:00 a.m. in New York after CVS said it earned $ 2.04 per share in the first quarter, $ 1.72 higher than expected CVS sales, which rose on demand. Expectations rise at stores as customers flock to company locations to get the Covid-19 vaccine.The company raised its full-year estimates.
Microsoft, Apple, Amazon, Facebook, Alphabet – Big Tech shares fell Tuesday, with the Nasdaq Composite down more than 2 percent, Netflix’s shares lost 1.6 percent and Microsoft’s down 2.1 percent, Amazon and Facebook down about 2.6 percent, Apple dropped. Down 3.8% and Alphabet is down more than 3%.
SolarEdge – The solar inverter maker’s shares fell more than 14% after the company warned that profit margins could drop in the future due to rising transportation costs.However, SolarEdge was up to analyst expectations during the peak period. It said the company earned 98 cents per share, excluding merchandise, while revenue was $ 405.5 million, analysts surveyed by FactSet had expected earnings of 80 cents per share and revenue of $ 395.4 million.
Under Armor – The stock was down just 3.6%, although the company beat its first-quarter earnings estimates. The retailer reported adjusted earnings per share of 16 cents on revenue of $ 1.26 billion. Analysts polled by Refinitiv expected the company to post earnings per share of 3 cents on revenue of $ 1.13 billion.Under Armor separately said it reached an agreement with the Securities and Exchange Commission on the failure claims. In disclosure
Kroger, Alberstons – The grocery group’s shares fell about 3.6 percent and 2 percent, respectively, after Goldman Sachs said the return of restaurants and rising food prices should put pressure on supermarket stocks in the coming months. page Goldman downgraded Kroger to sell from neutral and Albertsons to buy neutral, saying companies are likely to be pressured by lower demand and rising costs.
Quest Diagnostics – Quest Diagnostics shares rose 2 percent after UBS upgraded its stock to buy from neutral, saying industry fundamentals appeared to be in the healthiest spot in more than a decade, despite the Covid testing revenue stream. Decrease
Avis Budget – The car rental company’s shares were down 4 percent, despite reporting better-than-expected earnings.Avis reported a loss of 46 cents per share, less than the expected loss of $ 2.16 per share, according to Refinitiv. The Avis management commented on the chip shortage and did not provide forward-looking advice.
iRobot – iRobot shares fell 11 percent after confirming the profit guidance range, at the low end of analysts’ expectations.However, the company reported earnings per share of 41 cents per share, above the 9 cents per share expected. On Wall Street, according to Refinitiv, revenues are still higher than estimates.
Arconic – The stock prices for the industrial company jumped more than 16 percent after hitting the upper and lower lines of quarterly results, Arconic reported earnings of 46 cents per share on revenue of $ 1.68 billion. Analysts had forecast earnings of 27 cents per share on revenue of $ 1.54 billion.
– With reporting from CNBC’s Pippa Stevens and Tom Franck
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