Stocks making the biggest moves midday: Cava, Domino's Pizza, Kroger, Lennar and more
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Check out the companies making the biggest moves midday:
Cava Group — Shares soared 91% in midday trading during its first day as a public company. Cava Group priced its IPO at $22 per share and began trading Thursday at $42 per share.
SkyWest — The airline stock gained 5.7% after being upgraded by Deutsche Bank to buy from hold. The Wall Street firm said it believes there will be «significant improvement» in the company's return on invested capital over the next two to three years. Deutsche Bank also upgraded Allegiant, which was up 1.4% in midday trading.
Domino's Pizza — The pizza chain gained 6.2% after Stifel upgraded the stock to a buy from a hold. The firm said delivery sales should stabilize further while carry-out sales pick up in the next year.
Kroger — Shares dropped 3%. On the company's earnings call Thursday, Kroger CEO Rodney McMullen said, «The economic environment is more significantly impacting our budget-conscious shoppers.» The company reaffirmed identical sales, without fuel, and adjusted earnings-per-share guidance for the full year. Kroger also posted revenue that came in slightly below Street expectations: Sales for the first quarter were $45.17 billion, compared to analysts' forecast of $45.26 billion, according to FactSet.
Target — Shares of the big-box retailer jumped nearly 3% after Bernstein reiterated its outperform rating on the stock. The Wall Street firm said investors should buy the weakness in Target shares, which are down 15% over the past month.
Lennar — Shares of the homebuilder rose more than 3% on Thursday. Lennar reported better-than-expected results for the fiscal second quarter on Wednesday evening. The company said it generated $3.01 in earnings per share on
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