A Walgreens store in Miami, Florida, on August 7, 2019.
Joe Ladle | Getty Images
Check out the companies in the spotlight on the midday deal.
Doximity — An online platform for medical professionals surged more than 32.7% after the company reported better-than-expected quarterly results. Doximity also announced a new share buyback program.
walgreens — Shares rose 7.2% after upgrading to buy from pending Deutsche Bank. I like Walgreens’ merger and acquisition plans.
coin base — Coinbase soars 12.8% after Piper Sandler repeats overweight valuations on stocks, saying it’s well positioned to “ride out the prolonged crypto winter.” We are gearing up for a major setback that is likely to put more pressure on prices and curb trading activity from December 2020 onwards. sudden collapse of the popular FTX exchange.
duolingo — Shares of the foreign language learning platform fell 13.4% after the company reported lower-than-expected earnings while posting a smaller-than-expected quarterly loss. Duolingo also revised up its full-year forecast.
Wynn Resorts — Casino stocks soared more than 8.3% after China announced it would ease Covid restrictions and cut quarantine times for international travelers by two days. Wynn Resorts’ Macau operations came under pressure this year due to China’s strict coronavirus measures.
ralph lauren — Clothing makers surged 9.4% after reporting better-than-expected Q2 earnings. UBS decided this company “Turnaround Inventory” We are looking at useful changes in business models.
GSKMore The drugmaker’s shares fell 5.6% on Friday after GSK said it would stop using ovarian cancer drugs in the United States for certain patients with consumer mutations, according to Reuters. It was also downgraded to neutral by UBS due to an “unattractive earnings scenario.”
Health Stocks — Healthcare stocks led the S&P 500 decline. This is because investors have moved away from these stable outperformers to favor growth stocks now that the market is recovering. Among the latecomers are Signa (6% down), Elevance (down 5.9%), Humana (down 5.3%), vertex (2.5% immersion) and Mackeson (down 3.8%).
imax — Stocks in the entertainment company rose 6.9% after Wedbush named Imax one of the best ideas. The company said it is well positioned to respond to a recovery in theater demand.
netflix — The streaming giant rose 5.5% after JP Morgan repeatedly overweighted the stock, citing “increased confidence” in the company’s ability to improve earnings growth, free cash flow and operating margins. did.
general motors — The auto giant’s stock jumped 3.5% after Citi repeated it as the frontrunner. Citi said it was seeing “growth and resilience” heading into next week’s Investor Day.
Amazon — Amazon’s stock rose 4.3% after the Wall Street Journal reported that the company was considering cost-cutting measures, especially in underperforming business units such as Alexa. Wall Street analysts at Bank of America and Morgan Stanley welcomed the move.
legal zoom — The stock added 10.4% after reporting a smaller-than-expected quarterly loss. Legal document providers also raised their full-year outlook.
Beezer Homes — Shares of the homebuilder rose 3.6% after Beezer noted earnings and earnings beat expectations, pointing to improved home prices and margins.
— Yun Li, Tanaya Macheel, Sarah Min and Carmen Reinicke of CNBC contributed to the report.
