GameStop, Costco, Box, Constellation Brands & more
A woman walks past the GameStop store in the Susquehanna Valley Mall. An online group sent GameStop (GME) and AMC Entertainment Holdings Inc. (AMC) share prices soaring to squeeze short sellers.
Paul Weaver | LightRocket | Getty Images
Check out the companies that are making headlines in midday trading.
Costco – The retailer’s share price rose less than 1% after the company posted a 16% increase in sales in March. Online sales were up 57.7% year over year, according to Costco, while net sales for retail month March were $ 18.21 billion, up from $ 15.49 billion in the same period last year.
Constellation Brands – The liquor company’s stocks were down 4% despite Constellation Brands beating estimates for sales and earnings in the fourth quarter. The company earned $ 1.95 per share on sales of $ 1.95 billion. Analysts polled by Refinitiv expected the company to make $ 1.55 per share on sales of $ 1.87 billion.
Box – The cloud company’s shares rose more than 8% after announcing a new $ 500 million strategic investment in KKR convertible preferred stock, which will be used primarily to buy back Dutch auction stocks after gaining fiscal first quarter 2022 becomes.
F5 Networks – The company’s shares in application and delivery networks were down 0.01% after Credit Suisse downgraded F5 Networks from Outperformance to Neutral. The Wall Street company said after F5 Network rose 20% this year, its current valuation no longer warranted a buy recommendation.
GameStop – The video game retailer’s share price fell about 0.2% after the company announced that Chewy co-founder Ryan Cohen would become chairman. Cohen currently serves on the board of directors and has endeavored to shift the focus from GameStop to e-commerce.
WW International – Stocks of Weight Management Service Company fell approximately 5% after Morgan Stanley downgraded the stock to equal weight due to an overweight. The Wall Street company cited the stock’s big surge over the past 12 months, pushing the price within about 5% of its target price.
Bilibili – The video streaming company’s shares rose more than 2% after Bilibili contradicted a Reuters report that talks are currently underway to buy a 24% stake in Yoozoo Games. Reuters previously reported that Bilibili would buy Yoozoo Games’ stake as well as its headquarters for about $ 765 million.
– CNBC’s Maggie Fitzgerald, Pippa Stevens and Jesse Pound contributed to the coverage.
Did you like this article?
For exclusive stock selection, investment ideas and global CNBC livestream
Sign up for CNBC Pro
Start your free trial now