Andrew Harrer | Bloomberg | Getty Images
Check out the companies that are owners in the noon trade.
Tilray, Canopy Growth, Aphria, Aurora Cannabis – Several cannabis stocks fell on Thursday, giving up some of the strong gains earlier this week as Reddit marketers stacked up. Tilray shares fell more than 40% after meeting 50% on Wednesday. Canopy Growth falls 21%, Aphria falls 31% and Aurora Cannabis falls more than 21%.
Bank of New York Mellon: BNY Mellon shares rose 2.7% at noon trading after announcing it will begin financing bitcoin and other digital currencies. The announcement represents a significant step by one of the country’s leading depository banks to validate banking and financing of bitcoins and other digital currencies.
Zillow: Real estate technology company shares jumped more than 15% after stronger-than-expected earnings report. Zillow reported 41 cents of earnings per share and $ 789 million in revenue during the fourth quarter. Analysts polled by Refinitiv expected 27 cents a share and $ 741 million. Citi updated the shares to buy from neutral after the report.
Heinz Kraft: Food stocks rose 5.6% after Heinz exceeded fourth-quarter top and bottom line estimates. The company also announced that it was selling its dried fruit business to Hormel Foods for more than $ 3 billion in cash. The deal includes the Planters and Corn Nut brands.
Under Armor: Retail shares rose 3% after Piper Sandler upgraded shares to an overweight rating. “UAA shares remain the“ most valued ”shares of our coverage,” the firm said in a note to clients. The firm also doubled its share price target from $ 14 to $ 28. The new target stands at about 25% above, when shares closed on Wednesday.
Simon Property Group: The shares of the mall operator gained more than 3% after Morgan Stanley upgraded the shares to an overweight rating. “While the retailer faces accelerated secular challenges, we see multiple growth engines of SPG’s profits,” the firm wrote in a note to customers. Morgan Stanley has a $ 125 target on the stock, which is 18% above Wednesday’s closing price.
Spirit Airlines: Shares of the discount airline fell more than 8% after reporting disappointing fourth-quarter revenue. Seaport also downgraded Spirit Airlines to neutral since the purchase.
Generac: The shares of the electrical systems company rose 11% after surpassing the upper and lower lines of quarterly earnings. Generac earned $ 1.97 per share with revenue of $ 761 million. Wall Street expected to earn $ 1.96 per share in revenue of $ 731 million, according to Refinitiv.
Virgin Galactic: Virgin Galactic shares rose more than 7% in trading on Thursday after an FAA warning indicated that the company’s next space flight attempt remains on track until Saturday. An FAA notice issued Thursday said airspace around the Virgin Galactic base of operations at Spaceport America in New Mexico would be restricted to space operations from Saturday at 9 a.m. ET until Sunday at 6 pm (ET).
Restaurant Brands: Restaurant brand shares fell more than 4% after reporting disappointing gains. Restaurant brands reported earnings of 53 cents per share, compared to analysts ’estimates of 65 cents per share, according to Refinitiv.
Tempur Sealy: Mattress maker shares rose 10% at noon after the company reported earnings of 67 cents per share the previous quarter, beating Refinitiv’s estimate by 15 cents. The company also said it expects sales growth to range between 15% and 20% in 2021.
MGM Resorts: Casino operator shares fell more than 3% after disappointing quarterly figures. MGM reported a 53% drop in revenue in the fourth quarter, with sales also hovering below a FactSet estimate. According to FactSet, it recorded a quarterly loss of 90 cents, slightly better than expected.
Zynga: Shares of mobile game developer were close to 9% at noon after CEO Frank Gibeau said the company was open to receiving a takeover bid. He added, however, that Zynga was not looking for any active purchase. The company also reported a 61% increase in net reserves in the previous quarter, exceeding analysts ’expectations.
Sonos: The maker of high-end smart speakers saw its shares rise more than 16% after a strong profit report. According to Refinitiv, Sonos exceeded estimates for the top and bottom lines in its last quarter. The company also raised its year-round revenue orientation.
– with reports from Yun Li, Jesse Pound, Tom Franck, Pippa Stevens and Richard Mendez of CNBC.