Stocks making the biggest moves midday: Pinterest, Sonos, Anthem and more

Products You May Like

In this article

Customers view merchandise in an experience room at the Sonos store in New York.
Gabby Jones | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Pinterest — Shares of the social media company rallied more than 9% following a Bloomberg News report that said PayPal may acquire Pinterest. PayPal shares fell 4.9%.

Sonos — Shares of the smart home sound system manufacturer jumped 1.6% after David Einhorn’s Greenlight Capital said it increased its bet on the company, calling Sonos a “bright growth story.” In a letter to investors obtained by CNBC, the hedge fund manager revealed that his firm expanded what was a small position in Sonos “to a size that makes it worthwhile to discuss.”

Ford – Shares of the automaker jumped 3.6% after Credit Suisse upgraded the stock to outperform from neutral. “In the past year, we’ve seen a significant turnaround underway at Ford,” the analyst said. “It has ended its cycle of quarterly earnings disappointments, and its transition to an EV/digital world has sharply accelerated.”

ProShares Bitcoin Strategy ETF – The bitcoin futures ETF gained about 4% in its second day of trading as the price of bitcoin rallied to an all-time high. The fund tracks contracts speculating on the future price of bitcoin.

Anthem — Shares of the insurance company popped more than 7% in midday trading after Anthem reported better-than-expected quarterly results. Anthem earned $6.79 per share, topping estimates by 42 cents, according to Refinitiv. Anthem made $35.55 billion in revenue, higher than the forecast $35.3 billion.

Omnicom Group — Omnicom shares slipped 4.1% following the media company’s third-quarter financial results. The company posted profit of $1.65 per share versus $1.37 analysts surveyed by StreetAccount were expecting. Revenue came in at $3.44 billion, slightly short of the $3.46 billion analyst estimate.

Novavax — Novavax shares sank 11% after a Politico report said the drugmaker is having challenges meeting regulators’ quality standards for its Covid vaccine.

Brinker International – Shares of the Chili’s parent dipped more than65% after the company warned about the impact of higher labor and commodities costs, saying its margins will be hit. “The Covid surge starting in August exacerbated the industry-wide labor and commodity challenges and impacted our margins and bottom line more than we anticipated,” CEO Wyman Roberts said in a statement. The company will report full quarterly results on Nov. 3.

Winnebago – Winnebago’s stock rose 0.1% despite the company beating top- and bottom-line estimates during its fiscal fourth quarter. The RV maker earned $2.57 per share excluding items on $1.04 billion in revenue.

Abbott Laboratories — Shares of the pharmaceutical company rose nearly 2.5% in midday trading after beating on the top and bottom lines of its quarterly results. Abbott earned an adjusted $1.40 per share, topping estimates of 95 cents per share, according to Refinitiv. Revenue came in at $10.93 billion, higher than the forecast $9.56 billion.

Signature Bank — Shares of New York-based Signature Bank rose 4.1% after the company beat quarterly earnings expectations. The bank reported earnings of $3.88 per share versus the StreetAccount consensus of $3.72 per share.

WD-40 — Shares of the lubricant maker sank 7.9% after missing on the top and bottom lines of its quarterly results. CEO Garry Ridge said the pandemic had created abnormal swings in the company’s sales results.

Tegna — Shares of Tegna rose more than 4% following a Bloomberg report that media mogul Byron Allen has received additional backing for his $23 per share offer for the TV broadcasting company. 

— with reporting from CNBC’s Yun Li, Pippa Stevens, Hannah Miao and Tanaya Macheel.

Products You May Like

Articles You May Like

JPMorgan CEO Jamie Dimon signals retirement is closer than ever
Kansas Lawmakers Should Prioritize Pro-Growth, Structurally Sound Tax Reforms in Special Session
Nvidia shares close at record high after forecast signals unwavering demand for AI chips
DJT: Trump Media reports $770,500 revenue for first quarter, net loss of $327.6 million
Here’s why you may be saving more in your 401(k) — and not even know it

Leave a Reply

Your email address will not be published. Required fields are marked *