An AMC theater is shown amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, USA, January 27, 2021.
Carlo Allegri | Reuters
Take a look at the companies making headlines in midday trading.
Bed Bath & Beyond, AMC: Shares rose 41% and 13%, respectively, as social media traders appeared to invest in both meme stocks, even without an apparent catalyst.
Signify Health: Shares rose 13% after a Wall Street Journal report, citing people familiar with the matter, that CVS Health is planning a bid for the home health services company.
First Solar: First Solar rose 5% after Goldman Sachs upgraded the stock to overweight from neutral. The bank said the solar tech stock should benefit from the passage of the Inflation Reduction Act and raised its price target to $126 from $83 a share.
Rhythm Pharmaceuticals: The biopharmaceutical stock gained 7% after Goldman Sachs upgraded it to buy from neutral, saying shares could rise about 40% after successful trials of its obesity drug.
Barrick Gold: The miner rose 5% after beating analysts’ expectations in its second-quarter results, due to higher copper production.
Palantir Technologies: Shares of Palantir fell more than 13% after the software company known for its work with the government reported a loss of 1 cent per share in its most recent quarter. Analysts had expected earnings of 3 cents per share, according to Refinitiv. CFO David Glazer told CNBC that the company’s loss was due to a decline in investments and marketable securities.
Tyson Foods: Shares of the food products company fell 8% after Tyson missed earnings estimates in its fiscal third quarter. Company executives said on an investor call that supply chain issues were hurting their ability to fulfill customer orders, according to a transcript of the call from FactSet.
Nvidia: The semiconductor stock fell more than 8% after Nvidia reported a revenue miss in its second-quarter results. The chipmaker posted revenue of $6.7 billion, compared with analysts’ expectations of $8.1 billion, citing weakness in gaming.
BioNTech: The German biotech company, which partnered with Pfizer on its Covid-19 vaccine, fell 9% after reporting earnings and revenue that missed expectations. The company said its variant-adapted Covid-19 vaccine should provide an increase in demand in the fourth quarter.
– CNBC’s Tanaya Macheel, Jesse Pound, Samantha Subin and Michelle Fox Theobald contributed reporting