Stock Groups

Home Depot, Robinhood, SoFi and more

[ad_1]

The merchandise purchased in Alexandria on August 17, 2021 by a shopper at Home Depot is left behind.

Getty Images| Getty Images

These are the headline-grabbing companies in midday trading.

Home Depot — Shares of Home Depot jumped more than 5% after the home improvement retailer beat on earnings.On revenue of $36.82billion, the company posted earnings of $3.92 per share. Refinitiv reports that analysts had expected earnings of $3.40 based on $35.01 billion in revenue.

Robinhood — Shares of the stock trading app ticked 4.6% lower in midday trading after Atlantic Equities downgradedRobinhood has changed from buy to neutral, noting in a note that it is unlikely shares will rebound due to the inconsistent growth.

SoFi Technologies — Shares of the fintech company dropped more than 5% in midday trading after announcing a secondary offeringPurchase of certain shares to obtain 50,000,000 shares of the common stock

Peloton — Shares of the stationary bike company popped more than 11% in midday trading after announcing it plans to sell roughly 23.9 million sharesThe company will receive approximately $1.07 billion in Class A stock, at an offering price of $46, Peloton announces the announcement as they seek to boost cashflow amid slowing sales momentum.

Rivian — Rivian shares continued to rallyIt was just a week since the company became public, making it one of the largest IPOs in the history of the year. Investors are positive on the stock’s rise of more than 8% during midday trading. Tesla rival backed by Amazon and Ford.

Walmart — The big box retailer saw its shares pulling back 2.8% even after a stronger-than-expected quarterly report. Walmart reported third-quarter profit revenue above estimates. The U.S. sales of same-stores increased 9.2% year-over year, but it did not include fuel. Walmart’s full-year forecast was also up.

Rackspace Technology — Shares of the cloud computing company soared 12% in midday trading after beating estimates by a penny with adjusted quarterly earnings of 25 cents per share. Rackspace Technology also exceeded Wall Street expectations in terms of revenue.  Rackspace was Rackspace’s number 8ThThe company reported consecutive quarters of revenue growth and said that it is well-positioned in an exploding market. 

QuantumScape — The battery stock dropped 10% on Tuesday after Morgan Stanley downgradedQuantumScape has gone from neutral to buy. According to the investment company, rising competition will erode the technology leadership of QuantumScape in the race for next-generation batteries.

Floor & Decor — Shares of the flooring company jumped more than 4% after Warren Buffett’s Berkshire Hathaway disclosed a near $100 million stake in a regulatory filing Monday evening. The conglomerate bought 816,900 shares of Floor & Decor in the third quarter, the filing showed. Floor & Decor has rallied more than 40% this year following a nearly 83% jump in 2020 on the back of the pandemic boom.

Axon Enterprise — Shares of Axon Enterprise, which makes tasers, body cameras and other public safety equipment, rose 7.5% after reporting strong sales and revenue for its latest quarter.

Autoliv — Shares of the automotive company gained more than 6% after Autoliv announced a share repurchase program of up to $1.5 billion over the next three years, while also providing upbeat guidance. In 2024, the company set a target for sales growth between 4% and 6 percent per annum.

Lucid Group — Shares of the electric vehicle maker surged more than 15% a day after reporting more than 17,000 reservations for its “Air” sedanThis is an increase of 13,000 over the previous quarter. Lucid confirmed also its 2022 production targets.

— with reporting from CNBC’s Yun Li, Pippa Stevens, Jesse Pound and and Hannah Miao.

[ad_2]