Foot Locker Inc. signage is displayed in the window of a store in New York, USA
Michael Nagel | Bloomberg | Getty Images
Check out the companies making the headlines in Friday’s midday trading.
blossom energy – Clean energy stock rose 5.1% after JPMorgan upgraded it to overweight from neutral. The bank said there was a buying opportunity after the recent sell-off.
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Foot Locker – The shoe retailer plunged 25.7% after missing both sales and profit in the fiscal first quarter. The company also reduced its full-year outlook, citing a “challenging macroeconomic environment.” Dick’s sporting goods Foot Locker trailed lower, down 6.5%.
Occidental Petroleum — Shares of the Houston-based oil and gas producer are up almost 2%. Warren Buffett’s Berkshire Hathaway continued to buy shares each of the past six trading days, increasing its stake to 24.4%. Buffett has ruled out the possibility of taking full control of Occidental.
Disney – The media conglomerate fell nearly 2% in midday trade after Macquarie Research downgraded shares to neutral from outperform. “We still appreciate Disney’s ability to transform successfully.”
“We will build a DTC first streaming business over time, but now we’re seeing more interim uncertainties,” Macquarie wrote.
catalent – The drugmaker rose 14.4% at midday after the company released a business update. CEO Alessandro Maselli said during a phone call that the company believes it “can serve sufficiently”. [customers’] Demand.” The company had to deal with problems at various production sites this year.
far-fetched – The e-commerce company jumped 17.6% in midday trade after Farfetch reported an increase in sales for the first quarter. Farfetch reported $556 million, while the analyst’s Refinitiv forecast was $513 million.
Western Alliance, PacWest – Regional bank shares fell more than 4% each, reversing some of this week’s strong gains. Despite the losses, Western Alliance and PacWest are still up more than 20%.
– CNBC’s Hakyung Kim, Alex Harring, Yun Li and Sarah Min contributed coverage
https://www.cnbc.com/2023/05/19/stocks-making-the-biggest-moves-midday-fl-dks-ctlt-oxy-more.html
