Take a look at the businesses making headlines in noon buying and selling.
Peloton – Shares tumbled 12% after the tools maker disclosed it is piling up extra stock and burning via money in a disappointing earnings report. Peloton additionally issued a dim fiscal fourth-quarter gross sales outlook and expects an upcoming worth hike could lose the corporate some subscribers.
Novavax – Shares fell 2% after the vaccine maker missed high and backside line estimates for its newest quarter. The primary quarter was, nonetheless, Novavax’s first worthwhile quarter. The corporate additionally reiterated its prior 2022 income forecast, anticipating vaccine gross sales will speed up throughout the present quarter.
Vroom – The net used-vehicle vendor noticed shares popped 19% after posting a narrower-than-expected quarterly loss and better-than-expected income. Vroom additionally introduced that chief working officer Thomas Shortt would develop into CEO.
BioHaven Pharmaceutical – Shares of the drugmaker surged almost 70% after Pfizer introduced a deal to purchase BioHaven, whose major product is a migraine capsule known as Nurtec. Shares of Pfizer have been up lower than 1%.
Upstart – Shares of the AI lending platform plummeted almost 59% regardless of better-than-expected quarterly outcomes. Upstart lower its full-year outlook, saying rising rates of interest will harm its mortgage quantity.
AMC Leisure – The inventory fell 6.7% after the movie show operator posted a smaller-than-expected quarterly loss in addition to income that exceeded analyst forecasts. AMC was helped by the discharge of well-liked big-budget films like “The Batman,” and the corporate famous a bounce in per-patron income above pre-pandemic ranges
Palantir – Shares of Palantir dropped 4% on Tuesday, extending a 21% decline from Monday that got here on the heels of a disappointing first-quarter report with weak steering. RBC Capital Markets downgraded Palantir to underperform, saying that the corporate would have hassle hitting its income development targets.
Sunrun – The photo voltaic firm’s shares fell more than 8% after KeyBanc downgraded the inventory to a sector weight score from obese. The agency cited “significant uncertainty presented by the recent proposed decision related to net metering reform in [California].”
— CNBC’s Jesse Pound and Sarah Min contributed reporting