The Lordstown Motors Corp. electric pickup. Endurance will be shown during a unveiling event in Lordstown, Ohio, USA, on Thursday, June 25, 2020.
Matthew Hatcher | Bloomberg | Getty pictures
Check out the companies that are making headlines in dinner trading.
Johnson & Johnson ̵[ads1]1; Shares in healthcare rose 1.7% after Johnson & Johnson announced a plan to split into two companies. The plan, which will take 18 to 24 months, will spin the company’s consumer product business from pharmaceutical and medical equipment business.
Tesla – Tesla fell 3% after CEO Elon Musk’s confidence on Thursday sold another 687 million dollars in shares, revealed regulatory registrations released on Friday. Musk and his trust sold shares for about $ 5 billion earlier this week.
Rivian – The recent public electric car maker’s shares extended the rise on Friday, rising 4.2% after rising more than 22% in the previous session. In the stock’s market debut on Wednesday, it jumped 29%.
Lordstown Motors – Shares of autostart-up fell around 16%. The pre-income company reported a loss of 54 cents per share for the third quarter, which is slightly less than the estimated loss of 59 cents per share, according to Refinitiv. Lordstown said they plan to manufacture and deliver their Endurance truck in the third quarter of 2022.
WM Technology – The shares of the software company fell 19% on Friday after the results for the third quarter missed estimates on the top and bottom line. WM Technology, which serves the cannabis industry, also provided guidance for the fourth quarter that came below expectations. The company said that competition from “unlicensed channels” harmed customers.
Warby Parker – The spectacle manufacturer’s shares rose by about 11% after reporting quarterly earnings that rose 32% from the same period a year ago. Revenue grew to $ 137.4 million, and sales increased by 45% on a two-year basis.
Hewlett Packard – Shares in Hewlett Packard Enterprise fell 7.5% after Goldman Sachs downgraded the stock to sell from neutral, citing a weakened IT use environment in late 2021 and early 2022. The Wall Street firm cut its price target to $ 14 per share from $ 16 pr. share.
Blink Charging – The charging company for electric cars saw their shares rise 15% after beating Wall Street’s revenue expectations. Blink reported $ 6.4 million in revenue, which reduces estimates by $ 4.7 million, according to Refinitiv.
Target – The shares of the big box dealer rose more than 2% after JPMorgan repeated the share as overweight before the earnings report next week. The Wall Street firm said the stock is a “clear winner” heading into the holidays.
Caesars Entertainment – Shares in the casino stock rose 3.2% in mid-day trading after B Riley Securities began covering Caesars Entertainment with a buy rating. The Wall Street firm awarded the stock a price target of $ 191 per share.
– CNBC’s Hannah Miao, Yun Li and Jesse Pound contributed reporting