Stocks making the biggest moves midday: Costco, Paramount, MillerKnoll, ChargePoint and more
Check out the companies making headlines in midday trading.
Media stocks — A handful of media and studio stocks rose Wednesday after the nearly 150-day writer strike ended. Shares of Warner Bros. Discovery and Paramount Global jumped more than 2.5%, while Comcast added 0.9%. Disney hovered near the flatline while Netflix inched up 0.3%.
MillerKnoll — The furniture stock soared more than 27% after posting fiscal 2024 first-quarter earnings that topped Wall Street's expectation and upped its earnings guidance for the full year. Excluding items, MillerKnoll said it now expects EPS to range between $1.85 and $2.15, versus its prior guidance of $1.70 to $2.00 per share.
ChargePoint, Blink Charging — Shares of ChargePoint and Blink Charging gained 4.1% and 5.5%, respectively after UBS initiated coverage of the electric charging stocks with buy ratings. Both stocks look well situated to capitalize on accelerating EV adoption, the firm wrote.
Costco — Shares of the wholesale superstore added 2.1% on the heels of a fourth-quarter earnings beat. Costco executives noted higher store traffic and an 8% uptick in memberships year-over-year.
XPO — Shares added roughly 2% after XPO stock was upgraded to outperform from Evercore ISI, with analyst Jonathan Chappell highlighting margin growth potential and stronger pricing power.
Mattel — Shares of the toymaker rose more than 4% after Morgan Stanley initiated coverage of Mattel with an overweight rating. The investment firm said that Mattel should see its sales and margins expand in the third and fourth quarters, helped by the success of the Barbie movie.
Amazon — Amazon shares fell 1% Wednesday, a day after the Federal Trade Commission filed a long-anticipated antitrust suit against the
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