Stock Market

In this article

Moderna’s sign is seen outside of their headquarters in Cambridge, MA on March 11, 2021.
Boston Globe | Getty Images

Check out the companies making headlines in midday trading.

United Airlines, Boeing — Shares of travel-related stocks dipped after Austria announced earlier in the day that it would reenter a full national lockdown due to a spike in Covid cases. United Airlines fell about 3.2% while American dipped 1%. Boeing fell 4.9%.

Devon Energy, Hess Corporation – The exploration and production companies slid more than 5%, leading the broader energy sector lower, amid a drop in oil prices. Every component in the S&P 500 energy sector traded in the red on Friday, with oil on track for its fourth straight week of losses.

Robinhood — Shares of the brokerage ticked more than 2% lower in midday trading after Deutsche Bank said it expects Robinhood’s customer accounts and assets will drop again in the fourth quarter and growth will continue to slow into 2022. For that reason, Robinhood is Deutsche Bank’s new “sell idea.”

Moderna — Shares of Moderna jumped 5.2% after the Food and Drug Administration authorized Moderna and Pfizer’s Covid vaccine booster shots for all U.S. adults. Pfizer also ticked higher after an initiation at outperform from BMO Capital Markets.

Foot Locker — Shares of the athletic footwear and apparel retailer tanked more than 12% after the company said it expects global supply chain constraints to persist through this quarter. The sell-off in shares comes despite a beat on both the top and bottom lines for Foot Locker’s most recent quarter, as well as better-than-expected comparable store sales.

Applied Materials — Shares of Applied Materials retreated 2.3% after the semiconductor equipment maker missed on quarterly earnings estimates. The company reported adjusted quarterly earnings of $1.94 per share, one cent shy of expectations, and posted revenue below Wall Street projections. Applied Materials also gave a weaker-than-expected current-quarter outlook citing supply shortages.

Ross Stores — Ross Stores shares dipped 6% despite an earnings beat. The off-price retailer posted quarterly earnings of $1.09 per share, beating the 78-cent Refinitiv consensus estimate. However, the discount retailer said it was seeing significant supply chain issues and uncertainty heading into the holiday shopping season.

Workday — Workday shares fell 3.3% despite the software company’s better-than-expected earnings report. The company posted earnings of $1.10 per share, 24 cents better than the Refinitiv consensus estimate. Workday said the effects of the Covid-19 pandemic will weigh on growth in the coming year.

Buckle — Buckle saw its shares retreat more than 5% despite beating Wall Street estimates in its quarterly earnings report. The fashion retailer earned $1.26 per share for the quarter, beating the 92-cent Refinitiv consensus estimate.

Intuit — The business software stock jumped more than 9% after strong growth in online accounting revenue fueled a beat on the top and bottom lines for Intuit’s fiscal first quarter. The company reported adjusted earnings of $1.53 per share on $2.01 billion in revenue. Analysts surveyed by Refinitiv had penciled in 97 cents in earnings per share and $1.81 billion of revenue.

— CNBC’s Yun Li, Jesse Pound, Maggie Fitzgerald and Tanaya Macheel contributed reporting.

Articles You May Like

How to avoid a tax bomb when selling your home
CBDC is a tool to combat Bitcoin, says Bank of Indonesia exec
UK to bring in new measures against Omicron strain on Tuesday
Cathie Wood says her firm is testing a more aggressive strategy that would be ‘Ark on steroids’
Munis steady after volatile UST swings