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Netflix, Lululemon, DocuSign and more




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

Lululemon — Shares of Lululemon fell 1[ads1]2% after the sportswear company gave a weaker-than-expected outlook for the fourth quarter. In the third quarter, the company beat Wall Street’s expectations on the top and bottom lines.

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Netflix, Lululemon, DocuSign and more

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Beyond Meat — Beyond Meat’s shares fell more than 8% after being downgraded by Argus to sell from hold. The firm’s analyst cited falling demand amid weaker economic conditions.

Broadcom — Broadcom gained 3.1% after giving an upbeat revenue forecast and reporting better-than-expected quarterly results after midnight Thursday. The chipmaker also raised its dividend by 12.2% and said it would resume share buybacks.

Tesla — Tesla shares were up more than 4%, paring some of the losses it suffered this week. Reuters reported on Friday that the electric car maker will suspend Model Y assembly at its Shanghai plant between December 25 and January 1. Stock levels at the factory had increased sharply during the summer.

caravan — Shares in Carvana rose 2% after lenders told The Wall Street Journal they don’t expect the online car seller to file for bankruptcy anytime soon. Those debt holders are joining forces amid reports earlier this week that the company is looking to restructure its debt, the paper said. Carvana had seen success during the pandemic, but rising interest rates and weaker demand for cars have hurt performance.

Netflix — Netflix gained 5% after being named a 2023 “best idea” by Cowen and upgraded by Wells Fargo to overweight from equal weight. Cowen said it sees free cash flow increasing next year, while Wells Fargo said content growth will reduce churn.

RH — RH, formerly Restoration Hardware, rose 4.5% after reporting third-quarter earnings per share and revenue that beat expectations. However, the retailer also said it expected business trends to worsen.

Coin base — Shares of the crypto services firm fell 2.6% after Mizuho downgraded Coinbase and said the price could fall another 30%. Crypto stocks like Coinbase have been under pressure with cryptocurrency prices as investors digest the macro picture and recent developments on FTX.

DocuSign — Shares in DocuSign rose 16% after the electronic signature company posted positive quarterly results. It also reported better-than-expected invoicing, subscription renewals and upselling to existing customers.

Costco — The wholesaler gained 1.6% after Cowen named the stock a “best idea” heading into 2023, noting that the company’s focus on value could be a winning strategy as consumers become more price-conscious.

AmerisourceBergen — AmerisourceBergen fell 2.7% after Walgreens sold about $1 billion of stock in the drug distributor. Walgreens remains the largest shareholder, with its stake now down to 17% from 20%.

Vale — The Brazil-based miner gained 3.5% after Morgan Stanley upgraded the stock to overweight from equal weight, citing a “cocktail” of positive catalysts such as iron ore price momentum and China exiting the Covid-19 policy.

Bath & Body Works — Shares in Bath & Body Works rose 2.1% after activist investor Dan Loeb increased his stake in the retailer. Loeb said he could push for board responsibility to improve governance issues at the company.

— CNBC’s Carmen Reinicke, Alexander Harring, Tanaya Macheel and Christina Cheddar-Berk contributed reporting.



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