People walk outside the AMC Empire 25 cinema in Times Square as the city continues its reopening efforts following restrictions imposed to slow the spread of the coronavirus in New York City on December 23, 2020.
Noam Galai | Getty Images
Check out the companies that are making headlines during afternoon trading.
Tesla – The company’s electric vehicle stock price gained 5% after Tesla’s first-quarter delivery numbers beat Street expectations. The Elon Musk-led company said it had delivered a total of 184,800 vehicles, while analysts were looking for 168,000 deliveries. Wedbush upgraded Tesla in response to the print, saying it is a “paradigm changer.”
AMC Entertainment – Shares of the cinema company were up 15% after B. Riley Securities upgraded the stock to a buy rating. “” Godzilla vs. Kong “destroys ongoing concerns about the importance of theatrical windows and shows a solid path to resurgence,” the company wrote in a letter to customers. B. Riley also raised his price target to $ 13, which is 39% higher than where the stock closed on Thursday.
Carnival, Norwegian and Royal Caribbean – Cruise operators Carnival and Norwegian gained 4.4% and 6.3%, respectively, after the Centers for Disease Control and Prevention updated their guidelines for the resumption of cruise ships in the US. Norwegian has specifically asked the CDC if it can resume cruises from US ports from July 4. Royal Caribbean added 3.4%.
Charles Schwab – The brokerage firm rose 2.9% to a 52-week high after Goldman Sachs put the stock on its conviction list above its earnings on April 15. strong commitment to retail. Goldman also raised his 12-month price target on Schwab from $ 67 per share to $ 77 per share.
Roblox – Shares of the online gaming platform were up more than 6% after Goldman Sachs initiated coverage on the stock with a buy rating. The Wall Street firm said Roblox’s creation and monetization of content allows it to outsource game development costs to creators while retaining the economic benefit. Roblox went public through a direct listing last month.
GameStop – Shares of video game retail were volatile Monday, falling nearly 3% around noon. The company’s stock price fell a whopping 14% earlier in the day. The weakness came after GameStop said it could sell up to $ 1 billion in additional stock following a historic Reddit-fueled short squeeze. The company said it plans to use the proceeds to further accelerate its ecommerce transformation and strengthen its balance sheet.
Trimble – Shares of the digital construction and farming business fell nearly 4.6% after Cathie Wood’s Ark Innovation bought 453,214 of its shares. Based on Thursday’s closing price of about $ 83 a share, North Ark’s purchase was worth $ 37.6 million.
Ford, General Motors – Old auto stocks rose Monday after Wells Fargo began reporting on overweight companies. Ford was down 2.4%, while GM’s shares were up 3.7%. Wells Fargo said in a few notes that Ford and GM were both poised to become leaders in the next generation of vehicles and transportation.
Pinterest – The share of photo sharing increased 1.8% after The New York Times reported that the company is considering acquiring social media company VSCO.
Planet Fitness – Shares of the fitness chain rose 1.5% after the Wall Street Journal reported it plans to open up to 100 new locations in the next fiscal year, adding to the current total of more than 2,100. Chief Finance Officer Tom Fitzgerald told the paper that Planet Fitness will also invest in its app.
– with reporting from The Washington City Times’s Pippa Stevens, Yun Li, Jesse Pound and Tom Franck.