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Consult the companies that make securities in the trading of lunch.
Tilray, Canopy Growth, Aphria, Aurora Cannabis – Several cannabis stocks fell on Thursday, giving up some of the strong gains earlier this week as Reddit traders piled on names. Shares of Tilray fell more than 40 percent, after gathering 50 percent on Wednesday. Canopy growth decreased by 21%, Aphria decreased by 31%, and Aurora Cannabis decreased by over 21%.
Bank of New York Mellon – BNY Mellon shares rose 2.7% at noon trading after announcing it will start financing bitcoin and other digital currencies. The announcement is a significant step by one of the country’s leading custodian banks to validate banking and financing bitcoin and other digital currencies.
Zillow – The shares of the real estate technology company increased by more than 15% after a stronger-than-expected revenue ratio. Zillow reported earnings per share of 41 cents and revenue of $ 789 million for the fourth quarter. Analysts surveyed by Refinitiv expected 27 cents per share and $ 741 million. Citi updated the stock to buy from neutral following the report.
Kraft Heinz – Food stock rose 5.6% after Heinz exceeded estimates for the top and bottom lines for the fourth quarter. The company also announced that it is selling its walnut business to Hormel Foods for more than $ 3 billion in cash. The transaction includes the Planters and Corn Nut brands.
Under Armor – The retailer’s shares rose 3% after Piper Sandler updated the stock to an overweight rating. “UAA shares remain the ‘most beloved’ shares in our coverage,” the company said in a note to customers. The company also doubled its share price target from $ 14 to $ 28. The new target is about 25% higher than if the shares closed on Wednesday.
Simon Property Group – The stock of the mall operator gained more than 3% after Morgan Stanley updated the stock to an overweight rating. “While retail is facing accelerating secular challenges, we are seeing more revenue growth factors for GSP,” the company wrote in a note to customers. Morgan Stanley has a target of $ 125 per share, which is 18% above Wednesday’s closing price.
Spirit Airlines – Shares of the discount airline fell by more than 8% after reporting disappointing revenue for the fourth quarter. Seaport also downgraded Spirit Airlines to neutral from purchase.
Generac – The shares of the energy systems company increased by 11% after exceeding the upper and lower lines of quarterly earnings. Generac earned $ 1.97 per share with revenue of $ 761 million. Wall Street was expected to earn $ 1.96 per share on revenue of $ 731 million, according to Refinitiv.
Virgin Galactic – Virgin Galactic shares rose more than 7% in trading on Thursday, after an FAA notification indicated that the company’s next space flight attempt remains on track as of Saturday. An FAA notice posted Thursday said airspace around Virgin Galactic’s base of operations at Spaceport America in New Mexico will be restricted to space operations from Saturday at 9 a.m. ET until Sunday at 6 p.m.
Restaurant brands – Restaurant brand shares fell more than 4% after reporting disappointing earnings. Restaurant Brands reported earnings of 53 cents per share, compared to analysts’ estimates of 65 cents per share, according to Refinitiv.
Tempur Sealy – Mattress maker shares rose 10 percent through noon, after the company reported earnings of 67 cents a share in the previous quarter, exceeding a 15-cent refinement estimate. The company also said it expects sales growth to be between 15% and 20% in 2021.
MGM Resorts – The shares of the casino operator fell by more than 3% after disappointing quarterly figures. MGM reported a 53% drop in revenue in the fourth quarter, with sales also below a FactSet estimate. It recorded a quarterly loss of 90 cents, slightly better than expected, according to FactSet.
Zynga – The shares of the mobile game developer were almost 9% until noon, after CEO Frank Gibeau said that the company is open to receive a takeover bid. He added, however, that Zynga was not actively looking for a purchase. The company also reported a 61% increase in net bookings for the previous quarter, exceeding analysts’ expectations.
Sonos – The manufacturer of state-of-the-art smart speakers has seen its shares rise by more than 16% after a strong revenue ratio. Sonos has exceeded estimates on both the top and bottom lines in the last quarter, according to Refinitiv. The company has also raised its year-round revenue guidelines.
– with reports from CNBC Yun Li, Jesse Pound, Tom Franck, Pippa Stevens and Richard Mendez.