Take a look at the businesses making headlines in noon buying and selling.
Walgreens — The drug retailer chain fell about 5% after the corporate reported its quarterly outcomes. Regardless of recording a beat on earnings, it didn’t elevate its forecast for the yr The corporate’s president mentioned on its earnings name Thursday that demand for Covid testing has slowed since January, and it may take time for its healthcare investments to repay.
Baidu — Shares for the tech firm tumbled roughly 7%. Baidu was added to the Securities and Trade Fee’s checklist of U.S.-traded China shares that might be delisted ought to the web search firm fail to reveal monetary audits to U.S. regulators.
AMD — The chipmaker misplaced 7.1% after Barclays downgraded the inventory to equal-weight and lowered its value goal from $148 to $115. The financial institution cited “cyclical risk across several end markets,” together with PC and gaming as contributors to the downgrade.
Dell Applied sciences and HP — Shares of the pc gear corporations fell after Morgan Stanley downgraded Dell to equal-weight and HP to underweight. The financial institution cited ongoing macro uncertainty and a “cautious hardware outlook” among the many causes for the downgrade. Dell fell 5.4%, whereas HP shed 5%.
PVH — Shares of the Calvin Klein mother or father fell 6.4% after Morgan Stanley downgraded the inventory to equal-weight from obese. “Expect the stock to remain range-bound for now,” the agency mentioned.
Amylyx Prescribed drugs — The inventory misplaced 13.5% after a Meals and Drug Administration panel voted to not advocate the approval of an experimental ALS drug developed by Amylyx. The panel mentioned research knowledge did not show that the drug was efficient in combating the illness.
Occidental Petroleum — Shares rallied about 2% after CEO Vicki Hollub bought 14,191 of her personal firm’s shares. The strikes come after Warren Buffett’s latest shopping for spree within the outperforming vitality inventory.
UBS — The financial institution’s inventory rose 1.2% after Goldman Sachs initiated UBS with a purchase ranking. Goldman mentioned the rise of fintech is a constructive for the banking business.
— CNBC’s Tanaya Macheel, Sarah Min and Samantha Subin contributed reporting