Stocks making the biggest moves midday: Pinterest, Carnival, General Mills, Netflix and more
In this article
Check out the companies making the biggest moves midday:
Pinterest — Shares climbed more than 5% in midday trading. Wells Fargo upgraded Pinterest to overweight thanks to an Amazon partnership expected to take hold later this year and optimism that Pinterest can continue to boost user engagement.
Cruise stocks — Carnival popped nearly 10%, Norwegian Cruise Line gained about 9% and Royal Caribbean added more than 3%, extending gains from Tuesday after Carnival reported a smaller-than-expected loss for its second quarter and issued strong guidance. The sector has been on a tear this year as it recovers from the Covid pandemic.
General Mills — Shares tumbled 4.4% after the maker of Betty Crocker mixes and Cheerios cereal turned in a mixed earnings report for its fiscal fourth quarter. The company exceeded Wall Street expectations on earnings, posting $1.12 in adjusted earnings per share against a consensus estimate of $1.07 from analysts polled by Refinitiv. But $5.03 billion in revenue missed analysts' forecast of $5.17 billion.
Chip stocks — Shares of Nvidia slipped less than 1% and Advanced Micro Devices added less than 1%, paring earlier losses, following a Wall Street Journal report that the U.S. is weighing new restrictions on artificial intelligence chip stocks sold to China.
Netflix — The streaming giant jumped 4.3% after Oppenheimer raised its price target to $500 per share from $450. The Wall Street firm said it anticipated more subscribers and the potential discontinuation of its lowest-priced, ad-free plan, which is being tested in Canada.
Joby Aviation — Shares soared nearly 41% after the company announced it received a permit to begin flight testing its first electric vertical takeoff and
Read more on cnbc.com
