Stock Groups

Costco, Rivian, Signature Bank, Sweetgreen

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Face mask-wearing shoppers leave Costco’s wholesale shop in Washington, D.C.

Getty Images| Xinhua News Agency | Getty Images

Take a look at the top midday traders.

Costco — The stock dipped 3.3% midday despite a better-than-expected quarterly report. On revenue of $51.9 billion, the retailer posted earnings of $2.92 per stock. According to Refinitiv, analysts had predicted earnings of $2.74 for revenue of $51.47 trillion.

Broadcom — Shares of the chipmaker jumped 3.6% after the company reported record revenue in the fiscal first quarter that exceeded analysts’ expectations. Broadcom’s adjusted earnings were $8.39 per share. This is higher than what FactSet estimates had predicted at $8.23 per. Broadcom’s revenue increased 16% year-over-year to $7.7 Billion, which is also in line with estimates.

Signature Bank — Shares of crypto-friendly Signature Bank fell 7% despite Goldman Sachs saying Friday it’s keeping its buy ratingAfter a meeting with management, he is positive about the stock’s future growth prospects and shares his optimism.

Kroger — The grocery chain added about 4% after it provided a business update Friday including its digital push to drive 2022 sales and a commitment to shareholder returns of 8% to 11% over time. After reporting strong earnings on Thursday, shares rose.

Splunk — The cloud company’s shares rose about 4% after Daiwa upgraded the stock to outperform from neutral, saying it sees an “uptick” in security demand as a result of concerns about Russia.

Best Buy — Shares fell 6.5% after Raymond James downgraded Best Buy to market performFrom outperform. Analysts said that the stock recommendation was in sleep mode and they would not change their recommendations. After Best Buy reported Thursday, the call is made. underwhelming quarterly results that just matched Wall Street expectations.

Rivian Automotive — The electric truck maker’s shares lost 6.5% after Baird lowered its price target on the stock to $100 per share from $150. Baird reiterated Rivian’s status as an outperformer, and maintained that the stock is bullish over long-term, in spite of recent management missteps.

Roblox — Shares of the gaming platform fell about 6% after Bank of America said investors should expect the stock to remain volatile for the foreseeable future. Bank of America said that February bookings growth might lead to a brief rally, but cautioned that launch success is essential before the bear thesis can be disproven.

Sweetgreen — Sweetgreen shares soared 19% after the salad chain reported strong sales growth in its first quarterly report since going public in November. It also provided a positive outlook for sales in 2022. However, it does not expect to turn profit until then.

Gap — The apparel retailer saw its shares fall about 2% after it reported a narrower-than-expected lossThe fourth quarter was strong and Gap provided solid guidance for earnings. Gap lost 2 cents per shares, against the expected 14 cents from Refinitiv analysts.

 — CNBC’s Samantha Subin, Yun Li, Hannah Miao and Michael Bloom contributed reporting

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