Wynn Resorts, TuSimple, Newell Brands, First Solar and more
Wynn Casino Resort signage with the Grand Lisboa and Casino Lisboa in the background in Macau is shown in this photo taken on Oct. 20, 2022.
Edward Leal | AFP | Getty Images
Check out the companies making headlines in midday trading.
Wynn Resorts – The casino operator’s shares rose 10% after a filing featured a billionaire investor and restaurant owner Tilman Fertitta has built up a passive stake of 6.1% in the company. The stock is still down more than 20% this year.
Newell brands – Shares in Newell Brands, a consumer goods maker, fell 7.3%. The company was recently downgraded by a number of analysts including those at Raymond James, Deutsche Bank, Jefferies and Wells Fargo after they released their earnings report last week.
Just do – Shares of self-driving startup TuSimple plunged 46% after it fired its CEO Xiaodi Hou. A internal investigation showed improper dealings and a possible technology transfer to a Chinese company by Hou. The FBI and Securities and Exchange Commission are both investigating the Wall Street Journal reported.
First Solar — Solar stock is up more than 9% during midday trade. Bank of America on Friday raised its price target for First Solarand said the company’s growth prospects remain intact even after its rally of more than 60% this year, according to the analyst.
Paramount Global – Paramount Global shares lost 3.6% thereafter Downgraded from equal weight to underweight by Wells Fargo Securities. Analyst Steven Cahall, who downgraded the media company to equal weighting earlier this month, expects negative reviews and a possible sports rights review or strategy change from Paramount.
Hanes Brands Inc – HanesBrands shares fell more than 4% after the retailer received a double downgrade from Wells Fargo. The company trimmed the stock from overweight to underweight, citing increasing macroeconomic and more balanced stocks Sheet editions in the next year.
meta platforms – Meta Platforms shares fell 5.5%, leading to declines in megacap technology stocks after disappointing earnings results last week. alphabet, Apple and Microsoft all also slipped about 1%.
Global Payments – The stock slid 6.7% after the company reported earnings that met expectations for earnings per share and beat expected sales. Meanwhile, the company said it was taking steps to fund multibillion-dollar transactions involving debt. The stock is still up about 7% this month.
align technology – Align Technology shares rose 4% on Monday after announcing a new one $200 million accelerated share repurchase agreement as part of its $1 billion buyback program.
Howmet Aerospace – Shares of Howmet Aerospace, an aerospace manufacturer, fell more than 3% on Monday after the company released quarterly results that missed Wall Street’s revenue expectations. The company reported revenue of $1.43 billion for the quarter, according to StreetAccount, while analysts were expecting $1.44 billion.
NOV Inc. – Shares in oil and gas maker NOV rose more than 5% after Morgan Stanley raised its price target on the company. The company has an equal weight rating on the stock.
Oil and energy stocks – Oil and energy stocks got a boost on Monday after the Organization of Petroleum Exporting Countries said it sees it Oil demand will grow over the next few decades and called for trillions in investments in the sector. shares of Coterra energy 2% added. diamondback and Western Petroleum increased by almost 1%.
ON semiconductor – ON Semiconductor shares fell more than 8% even after the company beat estimates for revenue and earnings. The company’s guidance for the fourth quarter was mostly on line, according to StreetAccount, although it called for a sequential decline in revenue. Other chip stocks were also under pressure on Monday, with Advanced Micro Devices falling 3.1%.
amgen – Biopharma stock fell 1.5% after Barclays downgraded Amgen from equal weighting to underweight, and said investor excitement ahead of an update on an obesity drug next week may be overblown. Amgen shares are up nearly 20% this month, creating a “challenging setup” for the stock to outperform after the update, the company said.
– CNBC’s Yun Li, Alex Harring, Michelle Fox, Sarah Min and Jesse Pound contributed coverage
#Wynn #Resorts #TuSimple #Newell #Brands #Solar