GameStop, AMC Leisure, Harley-Davidson and extra
A medical worker wearing a mask walks near the AMC movie theater in Times Square amid the coronavirus pandemic in New York City on May 7, 2020.
Alexi Rosenfeld | Getty Images
Check out the companies that are making headlines in midday trading.
GameStop – The video game trader’s shares fell more than 50% to around $ 110 per share in midday trading as speculative trading that had catapulted the stock higher last week appeared to be nearing its end. At its current price, GameStop stocks are down 65% this week after erasing most of last week’s 399% rally. The stock closed 30% on Monday.
AMC Entertainment – The stationary retailer’s shares fell 40% on Tuesday as the retail insanity seemed to wane in the name. After rising 300% in a brief press over the past week, speculative buying appears to be losing steam. Other Reddit trades like BlackBerry, Express, Genius Brands, Koss and Nokia were lower on Tuesday.
Harley-Davidson – Motorcycle stock fell 19% after missing its income statement in the fourth quarter. Harley-Davidson reported a loss of 63 cents per share on sales of $ 725 million. Analysts polled by Refinitiv looked for positive earnings per share of 14 cents and sales of $ 774 million.
Exxon – The oil giant’s shares rose over 3% on the company’s fourth quarter earnings. Exxon said it lost $ 20 billion for the fourth year in a row during the reporting period. The company earned 3 cents per no-item share in the fourth quarter, which was above the 1 cent earnings analyst surveyed by Refinitiv. However, sales fell short of expectations at $ 46.54 billion. The street consensus was $ 48.76 billion.
Alibaba – The e-commerce giant’s stocks were down 2.4% despite the company’s third-quarter earnings record. Alibaba earned $ 22.03 per share, excluding items, which was higher than expected earnings of $ 20.87 per share. According to analysts polled by Refinitiv, revenue was $ 221 billion, compared to an expected $ 214.4 billion.
Pfizer – Pfizer’s shares fell more than 2%, although Covid-19 vaccines are expected to generate sales of around $ 15 billion this year. Pressure on the stock also came despite an accelerated schedule for U.S. vaccine delivery. Pfizer plans to move 200 million doses of its coronavirus vaccine to the US by May, earlier than originally forecast for July.
UPS – The delivery company’s shares rose more than 1% after UPS topped Wall Street’s estimates in the fourth quarter. The company had earnings per share of $ 2.66 on sales of $ 24.9 billion. Analysts surveyed by Refinitiv expected earnings per share of $ 2.14 and revenue of $ 22.87.
ConocoPhillips – The energy stock rose nearly 3% after the company reported a smaller-than-expected quarterly loss. ConocoPhillips posted a loss of 19 cents per share in the fourth quarter, better than an analyst forecast of 25 cents per share, according to FactSet. Sales were also above expectations.
Emerson Electric – The company’s shares rose 3% after hitting the income statement. Emerson Electric made 83 cents per share on sales of $ 4.16 billion. Wall Street expects a profit of 68 cents on sales of $ 3.98 billion, according to Refinitiv.
SiriusXM – Refinitiv said the satellite operator’s shares were down 1.6% after the company reported quarterly earnings and sales that beat Wall Street analysts’ estimates. SiriusXM also cited an increase in paying subscribers and increased audience penetration, boosted by the Pandora and Stitcher units.
– with reports from CNBC’s Pippa Stevens, Tom Franck, Jesse Pound and Yun Li.