AMC, Levi Strauss, Dynatrace, AstraZeneca
Street performers in Minnie Mouse costumes walk past an AMC movie theater in New York’s Times Square at night on October 15, 2020.
Amir Hamja | Bloomberg | Getty Images
Check out the companies that are making the headlines in midday trading.
AMC Entertainment – Shares in the beleaguered cinema chain fell more than 4% after the company announced it would sell up to 50 million of its Class A shares in a “shelf offer”.
Levi Strauss – The denim retailer gained more than 1% after Guggenheim raised its price target for the company from $ 20 to $ 24. The new forecast is 21% above the stock, which closed on Tuesday. “We are encouraged by the company’s offensive strategy, strong brand, experienced management team and healthy financial position. We believe that LEVI can emerge from a disruption of COVID-19 in a more competitive position,” the company said in a statement the customer .
Tesla – The electric vehicle maker’s shares rose more than 1% as the stock continued to rebound from recent selling pressures. Last week the stock fell 4.8% after the company entered the S&P 500. So far this week, Tesla has gained about 2.4%.
2U Inc – The education software company’s share price rose more than 6% after Needham named it a top pick for 2021. The Wall Street company said 2U was a belated beneficiary of the move to online education. The stock has gained 76% this year.
Dynatrace shares rose more than 3% after BTIG launched coverage of the software company with a buy rating. BTIG sees growth in the Application Performance Management market in 2021 as more companies invest in digital transformation. The company’s target price of $ 56 suggests a 30% rally over the next 12 months.
AstraZeneca – Pharmaceutical inventory grew around 1% after the UK approved the Covid-19 vaccine developed by AstraZeneca and Oxford University.
Emergent BioSolutions – The life sciences company’s shares rose 2.7% after Emergent and Mount Sinai Health Systems announced the initiation of a new clinical program investigating a possible preventive treatment for Covid-19. The research program is funded by the Ministry of Defense.
– CNBC’s Pippa Stevens, Fred Imbert and Jesse Pound contributed to the coverage.
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