Goldman, Pfizer, Cheesecake Factory, Alibaba and more

A Cheesecake Factory restaurant in Louisville, Kentucky.

Andy Lyons | Getty Images

Check out the companies making the biggest moves in the middle of the day:

Goldman Sachs — The bank fell more than 2% after reporting earnings per share and revenue that missed Wall Street estimates on Tuesday.

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Goldman, Pfizer, Cheesecake Factory, Alibaba and more


Pfizer — Wells Fargo downgraded the pharmaceutical giant to equal weight from overweight on Monday, saying the company needed a reset from the pandemic for the stock to perform again. Pfizer was down 1.25% in the premarket.

Morgan Stanley — Morgan Stanley’s earnings topped Wall Street expectations Tuesday, thanks in part to record wealth management revenue. Shares were 1% higher in the premarket.

Vodafone — The British telecommunications company rose almost 2% in the premarket. On Monday, Ghana approved Vodafone’s sale of 70% of its stake in Vodafone Ghana to Telecel Group. On Thursday, Vodafone was upgraded to buy by Bank of America, which said it was optimistic about the company’s prospects amid CEO Nick Read’s departure.

Global payments — Morgan Stanley upgraded Global Payments to overweight from equal weight on Tuesday, citing, among other things, a more favorable competitive environment and attractive valuation. The company gained 2% in the premarket.

Church and Dwight — Morgan Stanley upgraded the consumer goods maker to overweight from equal weight and raised its price target to $91 from $82. Church & Dwight rose more than 1% in premarket trading.

Cheesecake factory — The restaurant chain fell more than 3% after being downgraded to neutral from buy by Citi, which said shares are close to their price target. Cheesecake was also downgraded to holding by Gordon Haskett.

Bloomin’ Brands — The Outback Steakhouse parent fell nearly 2% after being downgraded to hold by Gordon Haskett, who cited the company’s growing balanced risk/reward profile.

Year — Roku shares fell 1.8% after Truist downgraded the company to a hold from a buy rating, saying the streaming stock is hypersensitive to a tough macro environment given that a large portion of its revenue is tied to advertising.

Snap — JMP Securities downgraded the company to market perform from market perform, citing reduced time spent on Snap and increased competition from Reels and YouTube shorts. Snap fell 1.4% in premarket trading.

Ali Baba — Activist investor Ryan Cohen built a stake in the Chinese e-commerce giant, according to the Wall Street Journal. Cohen is pushing the company to increase its stock buyback program, the report said. The shares were higher by 0.5% in the pre-market.

Reynolds Consumer Products — Shares fell about 1.3% after Credit Suisse downgraded the household goods maker to neutral from outperform, saying stock gains are now baked into the share price.

hot tub — Shares fell 3% after Whirlpool said it will sell a majority of its EMEA business, forming a new business focused on Europe with Turkish home appliance maker Arcelik. Whirlpool will own 25% of the new entity, while Arcelik will own 75%.

— CNBC’s Sam Subin, Sarah Min and Michael Bloom contributed reporting.

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