A pedestrian walking past a display of Skechers shoes.
David Paul Morris | Bloomberg | getty images
Check out the companies making headlines in afternoon trading.
Skechers – The shoe company gained 1.6% after UBS reiterated its buy rating on shares. UBS said that Skechers’ brand and products “will continue to connect with global customers.”
Palantir Technologies – Shares of Palantir Technologies rose more than 1% after the data analytics and software company won A $250 million contract with the US Army to develop artificial intelligence and machine-learning capabilities through 2026.
PepsiCo – The beverage giant gained nearly 2% after reporting better third-quarter earnings on Tuesday. The company reported adjusted earnings of $2.25 per share on revenue of $23.45 billion, while analysts at LSEG, formerly known as Refinitiv, had estimated earnings of $2.15 per share and revenue of $23.39 billion.
Solar companies – Shares of solar companies rose on Tuesday Invesco Solar ETF (TAN) Headed for its best day since March 21. SolarEdge 4.8% more added first solar There was an increase of 5.4%. Sustainability-Focused Real Estate Investment Trust hannon armstrong There was a gain of 9.8%, which Baird emphasized by saying that the stock could rise by 81%.
electronic Arts – Shares of the video game publisher rose 2.8% after Bank of America upgraded Electronic Arts to buy from neutral. The investment firm said the rebrand of EA’s FIFA franchise is going well, which is boosting the stock.
Defense Stock – L3Harris Technologies And Northrop Grumman Both gave back more than 1% on Tuesday. Defense and aerospace companies rose on Monday after the Israel-Hamas war broke out over the weekend.
Rivian – Shares of the electric vehicle maker rose 4.5% after UBS upgraded the stock to buy from neutral. Analyst Joseph Spack said the recent selloff has opened up an attractive entry point for investors.
Truist Financial – Shares jumped more than 6%. Late Monday, Semaphore, citing people familiar, reported that Truist is in talks to sell it insurance brokerage business $10 billion deal with private equity firm Stone Point.
block – Shares rose 5.2% after Bank of America reiterated its buy rating on the payments stock. Analyst Jason Kupferberg cited the stock’s current cheap valuation and strong fundamentals as catalysts for potential upside.
Akero Therapeutics – Shares of biotechnology company fell 62.6% after cirrhosis drug efruxifermin fail To meet primary benchmarks during its Phase 2b study.
unity software –The video game software company added about 1.1%. Late Monday night, the company announced that John Riccitiello is retiring as Unity’s CEO and will no longer serve on its board. The move follows controversial pricing changes announced by Unity in September. James Whitehurst will become Unity’s interim CEO.
Arm Holdings – Shares rose 2.7% on the day after several bullish calls on the stock. Deutsche Bank and JPMorgan were among the firms that initiated coverage of Arm Holdings with buy ratings on Monday. Companies were positive on semiconductor revenue growth.
Ameris Bancorp – Ameris shares rose 2.3% after DA Davidson upgraded the stock to buy from neutral. The firm said capital levels are healthy and well protected from unrealistic losses associated with rising rates. DA Davidson also raised its price target by $1 to $44 per share, about 15% above Monday’s close.
— CNBC’s Piya Singh, Tanaya Machel, Jesse Pound, Michelle Fox, Lisa Kailai Hahn and Samantha Subin contributed reporting.
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