Starbucks coffee shop logo seen in one of its stores.
Stephen Zenner | LightRocket | Getty Images
Check out the companies that own the noon trade.
Ulta Beauty: The shares of the cosmetics retailer fell more than 3% after the Guggenheim lowered Ulta to neutral since the purchase. The Wall Street firm said it was concerned about the uncertainty of the profit margin amid rising competitive pressure on digital platforms.
Starbucks: Cafes chain shares rose 2.8% after BTIG upgraded shares to buy from neutral. The firm said in a note to customers that it expects an accelerated reopening of the restaurant and that the new federal stimulus package will lead to increased profit forecasts for Starbucks.
DraftKings: The shares of the betting company advanced more than 1% after DraftKings said it had a price of the new debt offer of $ 1.1 billion in convertible securities. The company had initially planned a $ 1 billion bid.
Nikola Corp. – The shares of the vehicle design company fell 6.5% after the company announced a $ 100 million common stock offer in a filing with the Securities and Exchange Commission. Nikola said the proceeds will be invested in company infrastructure and general commercial purposes.
AstraZeneca – Shares of AstraZeneca rose 2.6% after a report indicated that the Covid-19 vaccine would be recommended for people 65 and older in Canada. The CBC report came after several European countries decided to stop using the vaccine amid concerns about its side effects. Both the World Health Organization and AstraZeneca say the vaccine is safe.
Avis Budget – Meanwhile, Avis Budget lost 7.6% at noon after Morgan Stanley lowered its equity to “equal weight” from “overweight”.
– CNG’s Maggie Fitzgerald, Jesse Pound, Pippa Stevens and Rich Mendez contributed to the communication.