Citrix Systems, Boeing, Nike, Kellogg and more
Oakland, California: Pedestrians walk along a sidewalk in front Rite Aid stores.
David Paul Morris | Bloomberg | Getty Images
These are the headline-grabbing companies in midday trading.
Rite Aid — Shares of Rite Aid rallied more than 16% after reporting a quarterly profit of 15 cents per share, smashing analysts’ expectations for a quarterly loss of 32 cents per share. It also revealed that it will be closing approximately 25 million stores annually through a program of store closures.
Citrix Systems — Citrix shares surged 12.8% after Bloomberg reported that Elliott Investment Management and Vista Equity Partners are considering a joint bid for the software maker, which has been exploring options including a potential sale since September.
Braze — The software company Braze saw its shares soar by more than 16% following a quarterly report that included a lower-than-expected loss and better-than-expected revenue. This is the company’s debut report since its public listing last month.
Micron — Shares of the semiconductor company jumped more than 9% after Micron beat estimates on the top and bottom linesFor its fiscal quarter one. Analysts also liked the guidance for second quarter, and Bank of America upgraded them.
Nike — Shares of Nike jumped 6.5% after the athletic apparel brand posted a better-than-expected quarterly reportThe company achieved this despite the supply chain challenges. Refinitiv reported that quarterly earnings were 83 cents per shares, which is 20 cents more than the consensus estimate. Also, revenue was higher than expected.
General Mills — The consumer foods giant’s shares fell nearly 4% after the company reported quarterly earnings of 99 cents per share, which missed estimates by 6 cents. General Mills beat its revenue forecast for the quarter to exceed expectations and raised its full year sales outlook. However, General Mills said that they are still facing higher input costs as well as supply chain disruptions.
Boeing — The aircraft maker’s shares rose 5% after UPS placed an orderFor 19 out of 767 company freighters. RBC also available Tuesday named Boeing a top stock pickFor 2022, and stated it saw an improvement in its free cash flow.
Pfizer, Moderna — Vaccine stocks traded lower after the Centers for Disease Control and Prevention director said initial Covid shots “may not be enough” to prevent infectionIt was noted that the omicron mutation has over 50 possible variants. Moderna shares fell by over 3%, as did Pfizer’s.
Kellogg — The maker of cereal and other foods saw its shares slip by about 2.3% after it announced union employees have ratified a previously announced tentative agreement for a master contract at its four U.S. cereal plants. This contract applies to approximately 1,400 employees representing unions at four plants in Battle Creek (Mich.), Omaha, Neb. Lancaster, Pa. and Memphis, Tenn.
Solaredge — On a strong day for solar stocks overall, SolarEdge outperformed and rose more than 7% after Cowen named the stock a top pick for 2022. In a note to its clients, the investment company stated that SolarEdge could benefit from both residential and commercial rooftop solar markets.
— CNBC’s Jesse Pound and Hannah Miao contributed reporting