Take a look at the businesses making headlines noon Friday:
Peloton — The train gear maker’s inventory jumped 2.5% after the corporate handily beat earnings expectations for the fourth quarter. The company earned 27 cents per share, in contrast with the 10 cents anticipated by analysts polled by Refinitiv. Gross sales surged 172% through the quarter as individuals stayed at residence through the pandemic.
Oracle — Shares of the software program firm rose greater than 1% after reporting adjusted quarterly profit of 93 cents per share, 7 cents above estimates, based on Refinitiv. Oracle’s income additionally beat Wall Avenue forecasts. The corporate’s better-than-expected outcomes had been helped by an elevated deal with cloud-based services and products as extra
individuals work remotely.
Adobe — Adobe shares superior 0.4% after Cowen upgraded the corporate to an outperform score due partly to an acceleration in demand due to Covid-19. The agency additionally lifted its value goal to $555, which is roughly 15% above the place shares at the moment commerce.
Nikola — Shares of the electrical truck maker dropped greater than 16% after Nikola dismissed fraud claims made by quick vendor Hindenburg. CEO Trevor Milton, known as the allegations a “hit job.” Hindenburg, for its half, accused Milton of creating false statements in regards to the firm’s expertise.
Domino’s Pizza — Domino’s Pizza gained 2.3% after Cowen upgraded the pizza chain to outperform from market carry out. The Wall Avenue agency stated Domino is implementing a “long-term playbook” to assist “prolong the model’s success.” The ways Domino’s used embrace menu and technological innovation, expanded worth choices and extra promoting spending, Cowen famous.
Etsy — The net market rose almost 3% following an improve to purchase from impartial at BTIG. The Wall Avenue agency stated Etsy has “attractive upside” for one in every of “e-commerce’s quickest rising and finest run corporations.”
Expedia — Shares of Expedia fell greater than 2% after an analyst at UBS downgraded the journey bookings firm to impartial from purchase. The analyst stated the “threat/reward” outlook for Expedia is “as compelling at present inventory value ranges because it was within the March to Might timeframe.”
Atara Biotherapeutics — Atara shares popped greater than 4% on the again of constructive knowledge from an ongoing Section 1 research of a drug aimed toward treating progressive types of a number of sclerosis. The corporate stated the drug was “effectively tolerated” all trial-participant cohorts, including that those that “achieved sustained incapacity enhancements at any timepoint maintained it in any respect future timepoints.”
Sage Therapeutics — Shares of Sage Therapeutics jumped 4.4% after Wedbush upgraded the biotech agency to outperform from impartial. The Wall Avenue agency is bullish on Sage’s new drug zuranolone, which treats depressive problems. Wedbush stated it sees causes for optimism on the drug’s publicity.
Rio Tinto — U.S.-listed shares of the metals miner climbed 5% after the corporate stated CEO Jean-Sébastien Jacques stepped down from his post along with other executives. Rio Tinto had been underneath fireplace after a blast destroyed traditionally vital Aboriginal rock shelters in Australia.
—CNBC’s Pippa Stevens, Yun Li and Maggie Fitzgerald contributed to this report.
