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Check out the companies making headlines in afternoon trading.
Media Stocks – A handful of media and studio stocks rose Wednesday after the nearly 150-day writers’ strike ended. shares of warner bros discovery And Paramount Global While, jumped more than 2.5% comcast 0.9% added. disney While hovering near the flatline Netflix There was an increase of 0.3%.
miller knoll – The furniture stock surged more than 27% after it reported fiscal 2024 first-quarter earnings that beat Wall Street expectations and raised its earnings guidance for the full year. Excluding items, Miller Knoll said it now expects earnings per share to be between $1.85 and $2.15, compared with its prior guidance of $1.70 to $2.00 per share.
chargepoint, blink charging – Shares of ChargePoint and Blink Charging rose 4.1% and 5.5%, respectively, after UBS initiated coverage of electric vehicle charging stocks with a buy rating. The firm wrote that both stocks are well-positioned to accelerate EV adoption.
costco -Shares of the wholesale superstore rose 2.1% after a fourth-quarter earnings report. Costco executives saw higher store traffic and an 8% increase in membership year over year.
xpo – XPO stock rose nearly 2% after Evercore ISI upgraded it to outperform, with analyst Jonathan Chappell highlighting margin growth potential and strong pricing power.
metal – Shares of the toy maker rose more than 4% after Morgan Stanley initiated coverage of Mattel with an overweight rating. The investment firm said 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% on Wednesday, a day after the Federal Trade Commission filed a long-awaited antitrust lawsuit against the technology giant. Shares fell 4% on Tuesday.
Levi Strauss & Company — The apparel maker added 1.2% after TD Cowen initiated coverage on an outperform rating. The firm said Levi’s is in the “early innings of a favorable denim cycle.”
guardian health — The oncology company rose 5.6% after Piper Sandler upgraded it to overweight from a neutral rating and said the recent selloff creates a “compelling opportunity” for investors.
AAR Corp – Shares of the airline company rose 2.3% based on its quarterly earnings report. The company beat analysts’ forecasts on earnings and revenue in the first quarter of the 2024 fiscal year and reported $550 million in quarterly sales, up 23% from last year.
Kosmos Energy – Shares rose more than 6% after Bank of America upgraded the upstream oil company to Buy from a Neutral rating, saying Kosmos Energy’s current valuation looks attractive.
— CNBC’s Brian Evans, Alex Haring, Jesse Pound and Hakyung Kim contributed reporting.
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