Pedestrians go in entrance of a GAP retailer in New York.
Scott Mlyn | CNBC
Try the businesses making headlines in noon buying and selling.
Activision Blizzard — The online game firm tumbled greater than 14% regardless of reporting better-than-expected quarterly earnings of 72 cents per share, in comparison with analysts’ estimates of 70 cents. It additionally reported income of $1.88 billion, proper consistent with analysts’ expectations.
Zillow — Shares of the digital actual property firm tanked almost 23% after the company said on Tuesday that it’s shuttering its homebuying unit, known as Presents. Zillow can be eliminating 25% of its workforce because it exits that enterprise. Zillow additionally missed on the highest and backside traces of its quarterly outcomes.
Bed Bath & Beyond — Shares of the house furnishings retailer continued their rally, leaping 15% after the corporate introduced various strategic changes to speed up growth on Tuesday night, together with a partnership with Kroger, the most important grocery chain within the U.S. Kroger shares had been up greater than 5%.
Cameco Corp — Shares of the uranium mining firm jumped 8% after Financial institution of America upgraded the stock to a buy. The agency mentioned shares, which have greater than doubled this 12 months, will proceed to rise on the again of energy within the steel. Nuclear energy’s position in decarbonization is being revaluated, which has lifted uranium shares this 12 months.
Gap — Hole shares gained greater than 5% after it reached an settlement during which Italian retailer OVS will buy all of Gap’s 11 store locations in Italy, in line with a presentation from OVS. The deal will “enable Hole to function its enterprise via a extra capital environment friendly accomplice mannequin,” the businesses mentioned in an announcement Wednesday. Phrases of the deal weren’t disclosed.
T-Mobile US — Shares of T-Cellular rose 5.3% after the telecom firm posted a stronger-than-expected revenue for the earlier quarter. T-Cellular reported diluted earnings of 55 cents a share, topping a Refinitiv forecast of 53 cents per share. Nevertheless, the corporate’s income got here in at $19.62 billion. Analysts anticipated gross sales of $20.19 billion, in line with Refinitiv.
Generac — Generac shares slid greater than 6% after each Financial institution of America and UBS downgraded the inventory to a impartial ranking. The calls comply with Generac reporting lower-than-expected gross sales throughout the newest quarter. “The long-term outlook stays wonderful and demand for many of Generac’s merchandise remains to be booming, however provide chain constraints have lastly began to chew as they’ve for everybody else,” Financial institution of America wrote in a note to clients.
CVS Health Corp — Shares of CVS gained greater than 5% after the pharmacy chain and well being insurer beat Wall Street expectations for third-quarter earnings and hiked its outlook for the 12 months. The corporate posted adjusted earnings of $1.97 per share on income of $73.79 billion, versus the Refinitiv consensus of $1.78 in revenue per share on income of $70.49 billion. CVS reported Covid-19 exams and vaccines boosted gross sales.
Deere & Co — The equipment maker fell about greater than 3% after manufacturing staff on strike at 12 of its vegetation turned down a tentative contract supply agreed to by their negotiators earlier within the week. The strike has lasted about three weeks.
Lyft — Shares of the ride-sharing firm jumped greater than 8% after its better-than-expected quarterly report. Lyft posted adjusted earnings of 5 cents per share within the third quarter, versus a lack of 3 cents per share anticipated, in line with Refinitiv. The corporate additionally beat on income and mentioned drivers are coming again, although it missed estimates of energetic riders.
— CNBC’s Pippa Stevens, Maggie Fitzgerald, Hannah Miao and Yun Li contributed reporting