Stocks making the biggest moves midday: CarMax, Accenture, Peloton, Jefferies and more
Check out the companies making headlines in midday trading.
Trimble — The technology services provider jumped about 6.4% Thursday on the back of an announcement that AGCO Corporation will acquire an 85% stake in Trimble's agribusiness for $2 billion in cash, as the tractor and seeding equipment firm looks to grow its precision agriculture portfolio.
DigitalBridge — Shares of the digital infrastructure company jumped 5.8% after JPMorgan upgraded the company to overweight from neutral. The firm said DigitalBridge is largely finished with the transformation of its business.
Jefferies Financial Group — The financial services stock rose more than 2% even though the company's third-quarter profits were hurt by a slowdown in deal-making. After the market closed Wednesday, Jefferies posted earnings of 22 cents per share on revenue of $1.18 billion. Still, the company's CEO expressed optimism that momentum in investment banking activity will return.
Duolingo — Shares gained 4.5% after UBS initiated coverage of Duolingo on Wednesday with a buy rating, saying it's a «best-in-class brand.»
Host Hotels & Resorts — Shares gained 3.8% Thursday after Wolfe Research initiated coverage of the real estate investment trust with an outperform rating. The firm assigned a $22 price target on the company.
Workday — Shares plunged 8.6% a day after the cloud services company lowered its long-term subscription growth target to a range of 17% to 19%, compared to its previous target of 20%.
Accenture — Shares of the IT and consulting firm fell nearly 5% Thursday after Accenture reported mixed results for its fiscal fourth quarter. The company reported $2.71 in adjusted earnings per share on $15.99 billion of revenue. Analysts were expecting $2.65
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