Chevron, Caterpillar, SunPower and more
On July 31, 2020, a sign was posted at Novato’s Chevron station.
Justin Sullivan | Getty Images
These are the headline-grabbing companies in midday trading.
Shell — Shares of Shell popped more than 2% after the company announcedShell announced that it would stop all spot-purchases of Russian crude oils. Shell also apologised for purchasing Russian oil at a steeply discounted price.
Dick’s Sporting Goods — Shares of the sporting goods giant jumped 6.4% after the company reported profits and sales growthIn its holiday quarter, it beat analysts’ expectations. Dick’s provided a more optimistic forecast of 2022 earnings, same-store sales and profits. This is a benchmark for Covid-19’s future growth.
Enphase Energy, SunPower — Enphase Energy and SunPower each rose 11% and 17% respectively as rising oil prices resulting from the Russia-Ukraine conflict continue to shift attention toward alternative energy sources. On Tuesday, President Joe Biden announced that a ban on Russian oil and gas imports.
Chevron, Exxon Mobil — Traditional energy stocks are up as oil prices continue to riseThe U.S. has announced that it will ban Russian oil and gasoline imports as a response to its conflict with Ukraine. In midday trading, shares of Chevron & Exxon rose by approximately 5% et 0.5%, respectively.
Dish Network — Shares of the telecom company jumped more than 7% on Tuesday after Dish received an upgrade from UBSBuy. UBS stated in a note sent to clients, Dish’s spectrum holdings have been undervalued. They provide protection against the downside risk of the stock.
Apple — Apple shares climbed 0.8% in midday trading. Tech giant Apple shares rose 0.8% in midday trading first launch event of the yearIt’s anticipated that Apple will announce a new iPhone or iPad on Tuesday. Apple is also expected to release a new budget iPhone, according to some analysts.
Caterpillar — Shares rallied more than 8% after Jefferies upgraded the stockTo a Buy Rating from a Hold Rating. According to the firm, Caterpillar could benefit from an increase in commodity prices due to Russia’s invasion Ukraine.
Petco — Shares of Petco rose 10% midday after the company beat analysts’ estimates on the top and bottom lines in the fourth quarter. Petco also gave strong guidance on revenue for 2022.
ThredUp — Shares of ThredUp rose more than 5% even after the company reported weaker-than-expected quarterly results. Refinitiv had predicted a loss of just 17 cents per shares, but the company actually posted an 18-cent per share gain. ThredUp revenue exceeded analysts’ expectations, however the first quarter revenue guidance was lower than anticipated.
— CNBC’s Yun Li, Jesse Pound and Maggie Fitzgerald contributed reporting