Tesla, Walgreens, DraftKings, Sq. and extra
Tesla Motors CEO Elon Musk responded after the company went public on the NASDAQ market in New York on June 29, 2010
Brendan McDermid | Reuters
Check out the companies that are making headlines in midday trading.
Tesla – Tesla shares rose nearly 10% after S&P Dow Jones Indices announced it would add the electric car maker’s share to the S&P 500 index effective December 21, Club after much noise on the road, ” said Wedbush analyst Dan Ives.
Walgreens, CVS, Rite Aid – Drug store stocks fell Tuesday after Amazon announced its new pharmacy company, which will allow online ordering and delivery of prescription drugs. Rite Aid’s shares were down more than 13%, while Walgreens was down 9.3% and CVS Health was down 7.4%. Amazon’s stock rose 0.8%.
Home Depot – Home improvement stocks fell 3% after the company reported higher costs and a plan to spend $ 1 billion to permanently raise its workers’ wages during the Covid era. Although the home improvement retailer saw healthy sales growth of 24% in the same store, the increased sales also sparked higher costs.
Charles Schwab – The e-broker’s shares rose nearly 2% after Citigroup upgraded the stock to buy from neutral. The Wall Street firm said the stock could get a boost if earnings normalize. Citi also raised its 12-month price target for Schwab from $ 44 per share to $ 54 per share.
Kohl’s – Retail stocks rose 5.6% after the company posted surprisingly adjusted earnings last quarter. Kohl’s reported adjusted earnings of 1 cent per share and sales of $ 3.78 billion. Analysts polled by Refinitiv expected a loss of 43 cents per share and sales of 3.86 billion US dollars. The company saw positive sales growth in its sports, lounge, and nightwear categories, despite net sales down 13% year over year.
Farfetch – Farfetch shares rose 2% after Morgan Stanley opened coverage of the luxury online fashion retailer with an overweight rating. The bank said Farfetch’s “unique” market model is well positioned to be used by both brick and mortar e-commerce players and brick and mortar sellers.
DraftKings – DraftKings stocks rose 5% after Loop initiated coverage of the fantasy sports betting company with a buy rating. Loop said DraftKings would become the “undisputed leader” and the “greatest beneficiary” of the online gaming industry.
Moderna – Moderna shares lost 4% on Tuesday after BMO Capital Markets downgraded the biotech company from outperformance to market performance. The Wall Street company said it now sees “limited upside moves” as the stocks are priced in on the vaccine news.
Square – The payment company’s shares rose more than 5%, the best day since November 11th. Square received a boost from positive comments from analysts at Mizuho Securities.
– with reports from Fred Imbert, Jesse Pound and Yun Li from CNBC.