CVS, Enphase Energy, Chipotle, Lyft and more
On April 2, 2020, customers shop at CVS Pharmacy on Morrissey Boulevard in Dorchester. Unsafe conditions in their shops are a concern for some pharmacy employees.
Getty Images| Boston Globe | Getty Images
These are the headline-grabbing companies in midday trading.
CVS Health — Shares of the drugstore chain fell 5.5% even after the company topped expectations in its fourth-quarter earningsAccording to a report, overall sales rose due to increased demand for vaccines and Covid testing at home. In the past three months, the drugstore chain gave more than 20,000,000 Covid vaccinations. This is a marked increase over what it had given in the two previous quarters.
Enphase Energy — The energy stock surged 10.5% following the company’s quarterly earnings, which showed record revenues for the fourth quarter and beats on both the top- and bottom-lines. Enphase received an adjusted 73c per share against estimates of 58c. Comparable to $397million expectations, revenue was $412.7 million.
Chipotle — Shares of the burrito chain jumped more than 9% after the company topped Wall Street’s estimates for its fourth-quarter earningsThe company exceeded all expectations regarding revenue. Chipotle’s net sales rose 22% to $1.96billion in the third quarter. It also met its expectations. StreetAccount forecasts that same-store sales would rise 15.2%. This is higher than StreetAccount’s estimate of 14.8%.
The Container Store Group — The home retailer saw its shares tumble nearly 20% after it reported sales for its fiscal third quarter were lower by 3% than the same time in the previous year and that online sales fell 36% compared to the year before. The Container Store posted better than expected profits in the third quarter.
NCR Corp — Shares of the financial services software maker rose 12% even after the company said it would launch a review of its operations, including “alternatives available to enhance both NCR’s value and shareholder returns.” The company also reported quarterly earnings and revenue beats.
Penn National Gaming — Shares of the gaming and casino stock rose more than 4% after Susquehanna upgraded it to positiveNeutral, Penn’s Digital Segment can inflect positively and has been “de-risked” at the current trading levels.
Lyft — Shares of the ride-hailing company rose more than 5% after beating on the top and bottom linesThese are its quarterly results. Lyft’s quarterly results showed that Lyft had reported less active riders in its third quarter than the previous.
Virgin Galactic — Virgin Galactic shares rose about 4.3% even after Bernstein lowered its price targetIt raised the price of the stock from $22 to $10, stating that it was concerned about space tourism investment’s market appetite and citing potential risks like talent retention as well as capital access.
General Motors — Shares of GM rebounded Wednesday after pulling back the previous session following a downgrade from Morgan Stanley. Even though Nomura was another company, the stock rose 2.8% also downgraded the stock.
— CNBC’s Maggie Fitzgerald, Yun Li and Hannah Miao contributed reporting