Shoppers line up outside Costco to purchase supplies after the Hawaii Department of Health on Wednesday advised residents to stock up on a 14-day supply of food, water and other necessities for potential risks of the novel coronavirus in Honolulu, Hawaii, US on February 28, 2020.
Courtesy of Doan Tanoui via Reuters
Check out which companies are making headlines in the midday trading.
World Wrestling Entertainment – Shares of wrestling entertainment rose 21% after that WWE has announced that founder Vince McMahon will be returning to his board of directors and that the company is exploring strategic moves. McMahon stepped down as CEO last year after an investigation into sexual misconduct, but remains a major shareholder. The Wall Street Journal reported that McMahon would return to pursue a potential sale of the company.
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R1 RCM Shares of the healthcare technology company rose more than 11% after the company raised its revenue forecast for 2023. The company also reaffirmed its outlook for the full year of 2022.
Costco wholesale Shares of the big box retailer jumped more than 6% after it reported strong sales figures for the month of December. Costco reported net sales of $23.8 billion in December 2022, registering an increase of 7% year-over-year. Evercore ISI too Costco has added it to its Fab Five listsaying he is a defensive stalwart.
First Solar Shares of First Solar rose more than 4% after that Wells Fargo upgraded him to overweightsaying that the energy crisis in Europe and the law to reduce inflation in the United States will boost the demand for solar energy.
Tesla Tesla shares rose 0.9% after falling to their lowest level in nearly two years earlier in the day. Tesla has lowered the prices of its Model 3 and Model Y cars in Asia.
Silvergate Capital – Shares of the digital currency-focused bank fell 13%, extending its loss of 42% from the previous day. JPMorgan downgraded SI to neutral from overweight, citing worse-than-expected deposit outflows at Silvergate and calling into question the company’s long-term profitability.
Greenbrier Enterprises Shares fell more than 13% after the railroad maker’s latest quarterly profit missed analyst estimates, although revenue beat expectations, according to consensus estimates on FactSet. CEO Lori Tecurios He said Rising costs for overseas parts and shortages of materials hurt manufacturing margins.
Agilent Technologies – Shares fell more than 4%. Agilent said Thursday that it will partner with Akoya Biosciences to develop solutions for tissue analysis. Akoya shares rose more than 5%.
MGM Resorts International Shares rose more than 4% after that Stifel upgraded the hospitality stock to buy from holdsaying it would benefit from a strong recovery in Las Vegas.
Foya Finance The financial stock rose 4.4% after JPMorgan upgraded to overweight from neutral. The company cited Foya’s low-risk business, ability to generate capital, and valuation as pluses.
proximity Shares fell more than 5% after Morgan Stanley downgraded its online networking service for medical professionals to underweight, saying there would be a further slowdown in growth in the healthcare digital ad space next year, according to FactSet’s StreetAccount.
— CNBC’s Michelle Fox, Alex Haring, Yoon Lee, Tanaya Machel, Jesse Pound and Samantha Subban contributed to reporting.
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