Stocks making the biggest moves midday: Tellurian, Wynn Resorts, Snap, Walgreens and more
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Check out the companies making headlines in midday trading Friday:
Tellurian — The liquified natural gas company (LNG) surged more than 15% after Credit Suisse upgraded Tellurian to outperform, saying LNG prices are high and may continue to be for the foreseeable future.
Wynn Resorts — Shares of the casino and resort operator's shares advanced 1% after an upgrade from Citi to buy from neutral. The bank cited increasing clarity around regulation and Wynn's licenses in Macao, along with its attractive valuation.
GameStop — GameStop shares gained more than 4% after the company said it will seek stockholder approval at its next shareholder meeting to implement a stock split. The company is proposing an increase to 1 billion shares from 300 million.
BlackBerry — BlackBerry shares fell 11.7% after the communications software company reported disappointing cybersecurity revenues for the previous quarter. The company said Thursday that revenues for its cyber came in at $122 million, below a StreetAccount estimate of $126 million.
Snap — The social media giant's shares rose 4% after Piper Sandler reiterated its overweight rating on Snap, saying it sees a «compelling pocket of user growth opportunity» in Mexico, Brazil, Italy and Spain.
Walgreens Boots Alliance — Walgreens dipped 2.4% after Baird downgraded the stock to neutral from outperform and cuts it price target on the drug store chain. The downgrade comes after the company reported second-quarter earnings that beat consensus estimates, but said it will take time for its health-care investments to pay-off. Investors are also concerned that Walgreens is losing momentum from pandemic traffic.
Chinese EV makers — Chinese electric vehicle makers' shares were
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