Take a look at the companies making headlines in midday trading. Moderna — Shares of the vaccine maker fell more than 3% after JPMorgan downgraded the company to underweight. The company said Moderna’s changes to its revenue forecast pose a headwind to the stock’s future performance. Oracle – Shares of Oracle rose nearly 2% after the database software company raised its revenue forecast for fiscal 2026. The company also issued strong guidance for fiscal 2029. Aptiv PLC — Shares of the auto parts company rose 3%. U.S. regulatory filings show Chief Executive Kevin Clark bought about 30,000 Aptiv shares earlier this week. RH — Shares of the home furnishings retailer rose 25% after reporting better-than-expected second-quarter results. RH reported adjusted earnings of $1.69 per share on revenue of $830 million. Analysts polled by London Stock Exchange Group (LSEG) expected revenue of $825 million and earnings of $1.56 per share. Chief Executive Gary Friedman said in a letter that demand “accelerated into the third quarter” and the company expects this to continue into 2025. The ride-sharing company’s shares rose more than 5% after plans to expand its partnership with Alphabet’s Waymo. The move enables Uber to offer robo-taxi services in Austin, Texas, and Atlanta starting early next year. Adobe — Shares of Adobe fell 9% after the software company issued weaker-than-expected guidance for the current quarter. Meanwhile, Adobe beat revenue and profit estimates in its fiscal third quarter. BOEING – Boeing factory workers went on strike early Friday and rejected a new labor contract, sending the airline’s shares down about 4%. The shutdown could affect Boeing’s critical 737 Max production. Unity Software — The game engine company’s shares rose nearly 7%. Stifel raised his price target on Unity to $25 from $20, representing a 32% upside from Thursday’s closing price. Etsy, Wayfair, PDD Holdings — Shares of U.S. e-commerce stocks Etsy and Wayfair each rose 7% after the Biden administration announced plans to close trade loopholes related to allowing “overuse and abuse” of low-cost imported goods. fee. Shares of China’s Pinduoduo Holdings (PDD Holdings) fell more than 3%. Redfin Corporation — Shares of the real estate brokerage firm soared 21%. Construction and real estate stocks were generally higher as investors awaited an expected rate cut by the Federal Reserve next week. The iShares US Home Construction ETF (ITB) and the SPDR S&P Homebuilders ETF (XHB) both rose about 3%. Warner Bros. Discovery — Shares of Warner Bros. Discovery rose about 9% after the media conglomerate reached an early renewal agreement with Charter Communications. In addition, Warner Bros. Discovery CEO David Zaslav predicted that the company will add more than 6 million subscribers this season. —CNBC’s Jesse Pound, Sean Conlon, Samantha Subin and Hakyung Kim contributed reporting
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved