Stocks making the biggest moves midday: Netflix, Adobe, Wynn Resorts, Humana, and more

Adobe Systems’ global headquarters in downtown San Jose, California.

Lisa Werner | Moment Mobile | Getty Images

Check out which companies are making the headlines in midday trading.

Netflix – Streaming stock gained 7% after Evercore ISI upgraded Netflix to a superior rating and said its stock could rise more than 30% with the introduction of an ad-supported service and crackdowns on password sharing.

Adobe — Adobe shares fell 15% after news of its acquisition of a design software company known as Figma for nearly $20 billion in cash and stock. The company beat earnings estimates for the period but shares mixed guidance for the current quarter.

Oracle–The software company’s shares fell another 2%, extending a 5% sell-off from the previous session on weak earnings. Oracle earnings came in at $1.03 per share, after adjusting, compared to $1.07 per share analysts had expected, according to Refinitiv. However, its revenue was in line with expectations.

Rail Shares – Shares of select railroad companies rose after an interim last-minute deal was announced between rail companies and the unions representing their workers. Union Pacific and Norfolk Southern stock rose 1.6% and just under 1%, respectively. CSX Corp slipped more than 2% despite rising in extended trading before the bell.

Wynn Resorts — Shares jumped 8% after Credit Suisse upgraded Wynn Resorts to outperform, saying casino stock could nearly double after the expansion of its Las Vegas hotel convention center.

‘Buy now, pay later’ stocks – Major ‘buy now, pay later’ stocks tumbled on the back of a Consumer Financial Protection Bureau report calling for more oversight of the sector. PayPal and Affirm Holdings both fell less than 1%, while Block’s stock added nearly 2%.

Fisker — The electric car maker’s share price jumped 3.6% after Needham began coverage of Fisker with a buy rating as demand for electric vehicles accelerated. Tesla shares rose about 1% amid an upgrade to a pending rating from a poor performer.

Humana shares rose nearly 7% after increasing its earnings guidance for the fiscal year. The health insurance company also announced a new addition to its board of directors.

Nordstrom – Major supermarket stocks gained 2% after Jefferies upgraded it to a buy rating. In a note to clients, the company said Nordstrom is in a better position than some of its peers in the downturn.

Deckers Outdoors — Deckers Outdoor stock rose more than 2% after Wedbush upgraded the footwear company to outperform, saying in a note to clients that it is well positioned to weather a challenging retail environment.

Danaher — Shares of the medical technology company rose about 1% on the day after announcing spin-off plans for its Environmental and Applied Sciences unit.

NextEra Energy – NextEra Energy posted a small 3% drop a day after the alternative energy company said it plans to sell $2 billion in stock units.

Arconic Corp – Shares of the manufacturing company fell about 15% after Arconic cut its full-year forecast amid rising energy costs in Europe and waning demand.

Duckhorn Portfolio — The winemaker’s shares fell 8% after JPMorgan lowered its rating to neutral from overweight. JPMorgan said it still loves Duckhorn, describing the company’s long-term operating performance record since its initial public offering as “impressive.” However, the company is concerned that Duckhorn’s guidance may be disappointing.

CNBC’s Alex Harring, Michelle Fox, Yun Li and Sarah Min contributed reporting.

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