An exterior view of the Party City store, which closes on July 8, 2020 in Pembroke Pines, Florida.
Johnny Louis | Getty Images
Check out the companies that own the noon trade.
Intel: Chips maker shares rose more than 8% after CNBC’s David Faber reported that CEO Bob Swan would step down, effective next month. The company later confirmed the news. Intel has been struggling in recent years, losing market share to competitors like AMD.
Airbnb: Holiday rental shares jumped more than 6% on Wednesday and rose 8.6% in the previous session. Shares have had a volatile start to the year and are on track for the sixth day with a move of more than 3% in 2021. Airbnb said it will cancel and block future bookings in the Washington, DC metropolitan area during the week of the President -Select Joe Biden’s inauguration.
Zoom Video: Shares rose more than 7%, continuing their rebound from recent losses. The popular bid to stay home, which rose 395% in 2020, has experienced weakness in recent weeks as investors come out of high-flying pandemic plays. Shares fell about 30% in December. The video conferencing company issued new shares to raise about $ 1.75 billion in cash on Wednesday. CNBC’s Jim Cramer said Zoom is here to stay and that the recent decline in stocks may end.
GameStop: The company reached a record high of over 60% after the company announced that Chewy co-founder and former CEO Ryan Cohen is joining the board. Wednesday’s jump caused the stock’s earnings so far to exceed 80%.
Party City: Shares fell more than 14% as the company gave weak guidance for its fourth quarter at an investor conference. The retail chain said the rapid wave of new coronavirus cases had a greater-than-expected impact on consumer behavior, including reducing the size of social gatherings.
General Motors: Shares continued to rise after the company unveiled several new projects earlier this week, including an electric shuttle and a flying car. Nomura Instinet improved stocks to buy from neutral and praised its electric vehicle strategy. Shares have risen nearly 12% this week alone.
Urban Outfitters: Retailer fell 6% after sales for the two-month period ending Dec. 31 fell 8.4% year-over-year. The company also announced the departure of CEO Trish Donnelly from January 31st.
Objective: The shares advanced on Wednesday to a new all-time high, before returning these gains and trading approximately 1% lower. The move came after Target said sales at the same store grew 17.2% over the holidays, with online sales more than doubling in November and December.
KB Home: The housing construction company gathered more than 5% after KB Home reported better-than-expected quarterly earnings. KB Home reported earnings of $ 1.12 per share on revenue of $ 1.19 billion. According to Refinitiv, analysts expected revenue of 93 cents per share on revenue of $ 1.14 billion.
Exxon Mobil: Energy giant shares rose more than 1% after JPMorgan upgraded shares to neutral overweight. The firm said Exxon’s dividend is safe, echoing Morgan Stanley’s sentiment of its Monday update to Exxon.
Twitter – Social media shares jumped more than 2% after MKM Partners upgraded the company to buy neutral, saying it is about to leave behind the negative sentiment stemming from the pandemic and politics. Shares have fallen more than 11% in the new year as Twitter and other companies intensify their efforts to remove their content services that could lead to violence such as the events of the Capitol insurgency. Twitter has permanently suspended President Donald Trump’s account.
– CNG’s Maggie Fitzgerald, Jesse Pound, Pippa Stevens and Fred Imbert contributed to the communication.
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