Tesla, Lordstown Motors, Warby Parker and more
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Lordstown Motors Corp. During an unveiling in Lordstown (Ohio), U.S.A on Thursday June 25, 2020, the Endurance electric pickup truck was displayed.
Matthew Hatcher | Bloomberg | Getty Images
Take a look at the top midday traders.
Johnson & Johnson — Shares of the health care giant rose 1.7% after Johnson & Johnson announced a plan to split itself into two companies. The 18-24 month plan would see the consumer products division of the company separated from its business in medical devices and pharmaceuticals.
Tesla — Tesla fell 3% after CEO Elon Musk’s trust on Thursday sold another $687 million in sharesFriday’s regulatory filings became public. Musk and his trust have sold stock worth $5 billion earlier in the week.
Rivian — The newly public electric carmaker’s shares extended their climb Friday, rising 4.2% after rallying more than 22% in the previous session. The stock’s debut in the market on Wednesday saw a 29% jump.
Lordstown Motors — The auto start-up’s shares tumbled about 16%. This is the pre-revenue company reported a loss of 54 cents a shareAccording to Refinitiv, the loss for the third-quarter was slightly lower than the estimate loss of 59c per share. Lordstown indicated that the company plans to build and deliver its Endurance truck by the end of the third quarter in 2022.
WM Technology — Shares of the software company dropped 19% on Friday after its third-quarter results missed estimates on the top and bottom lines. WM Technology, which provides guidance to the cannabis industry, issued its fourth quarter guidance, but it was below expectations. According to the company, competition from non-licensed channels was affecting its clients.
Warby Parker — Shares of the eyeglasses maker rose about 11% after reporting quarterly revenue that rose 32% from the same period a year agoThe following: The revenue grew to $137.4million, while sales jumped 45% over a 2-year period.
Hewlett Packard — Shares of Hewlett Packard Enterprise dropped 7.5% after Goldman Sachs downgraded the stock to sell from neutral, citing a weakening IT spending environmentIn the late 2021-early 2022. From $16 per share, the Wall Street firm lowered its price target at $14 per share.
Blink Charging — The electric vehicle charging company saw its shares soar 15% after beating Wall Street’s revenue expectations. According to Refinitiv. Blink earned $6.4 Million in revenues, surpassing estimates of $4.7 Million.
Target — Shares of the big-box retailer rose more than 2% after JPMorgan reiterated the stock as overweightIts earnings report will be out next week. Wall Street firms said that the stock is a winner going into the holidays season.
Caesars Entertainment — Shares of the casino stock added 3.2% in midday trading after B Riley Securities initiated coverage of Caesars Entertainment with a buy rating. Wall Street’s firm gave the stock an $191 target price.
— CNBC’s Hannah Miao, Yun Li and Jesse Pound contributed reporting
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