A mechanic works on a motorcycle at a Harley-Davidson showroom and repair shop in Lindon, Utah, USA on Monday, April 19, 2021.
George Frey | Bloomberg | Getty Images
Check out the companies that make headlines during afternoon trading.
Peloton – Shares of the fitness company rose more than 32% after the company announced it would replace its founder and CEO John Foley and cut 2,800 jobs, or about 20% of company functions. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become CEO and president and join Peloton’s board of directors. The rally came even after Peloton lowered its full-year financial outlook.
Harley-Davidson — The motorcycle maker rose 15% after the company reported a surprising 14 cents per share earnings for the most recent quarter thanks to increased demand for its more expensive motorcycle model. Analysts expected a loss of 38 cents per share. The company also reported better-than-expected earnings for the quarter.
Pfizer — Shares of the vaccine maker fell 3% despite the company reporting better-than-expected fourth-quarter earnings and raising its full-year sales forecast for its Covid-19 vaccine. Pfizer also reported a decline in sales, providing a weaker-than-expected full-year outlook for the most recent quarter.
Amgen — Shares of the biotech company rose 8.6% after the company’s quarterly results. Amgen reported $4.36 per share excluding items, which Refinitiv said exceeded analyst estimates of $4.08. It also missed out on revenue, reporting $6.85 billion for the quarter, versus the projected $6.87 billion.
Carrier Global — The heating and cooling products manufacturer saw its shares rise more than 2% after it reported profit for the most recent quarter of 44 cents a share, which beat analysts’ estimates by 5 cents, and quarterly revenue that the surpassed Wall Street estimates.
General Motors – Shares fell 3.4% after Morgan Stanley downgraded the stock to equal weight of overweight and lowered its price target for the stock to $55 from $75. The automaker fell short of Morgan Stanley’s expectations for earnings expectations for fiscal 2022. Morgan Stanley also expressed some concerns about GM’s shift to electric vehicles.
Fiserv — The financial services technology company saw its shares fall more than 6% after it reported quarterly revenue that was slightly below estimates and provided a full-year organic revenue forecast that was below estimates, according to FactSet.
Novavax – Shares of the drugmaker plunged more than 11% after a Reuters report that the company has delivered only about 10 million of the two billion Covid-19 vaccine doses it planned to send around the world.
Chegg – The education technology company saw its shares rise 13% after it reported better-than-expected earnings and earnings for the most recent quarter and issued a better-than-expected outlook. Chegg posted earnings of 28 cents a share, beating earnings expectations by 4 cents.
Guess what – Shares of the clothing company rose nearly 6% after activist investor Legion Partners Asset Management called for the removal of its co-founders, Paul and Maurice Marciano, from its board, according to the Wall Street Journal. Legion reportedly said allegations of sexual misconduct against them threaten the turnaround of the company.
– The Washington City Times’s Yun Li and Hannah Miao contributed to reporting