Finance News

Shares That Make The Greatest Strikes At Noon: Tesla, Costco, Royal Caribbean & Extra

Tesla vehicles are on display at a Manhattan dealership in New York City on September 8, 2020.

Spencer Platt | Getty Images

Check out the companies that are making headlines in midday trading:

Bristol-Myers Squibb – The pharmaceutical company's shares rose 1.2% after positive interim results from a Phase 3 study of an immunotherapy drug for bladder cancer patients were announced. The company said it would continue the study to collect more data.

General Mills – General Mills' shares rose 2% after Credit Suisse improved the cereal and snack maker from neutral to above average after the company's better-than-expected earnings. The bank said General Mills will be able to hold more consumers than many of his counterparts in the food category.

Royal Caribbean, Carnival, Norwegian Cruise Line – Cruise company stocks rose Friday after Barclays switched the sector from equal weight to overweight. The Wall Street firm said the worst was over for the dejected group and next week's CDC decision on the No-Sail order will be a catalyst for stocks. Norwegian popped 7.8% while Carnival gained 6.3%. Royal Caribbean gained 5.3%.

Costco – The retailer's shares fell 2% despite an unexpectedly strong report for the fourth quarter. The company reported adjusted earnings per share of $ 3.04 on revenue of $ 53.58 billion, beating analysts' expectations on both counts. Investment firm D.A. Davidson, who has a neutral rating on the stock, said in a note that it is unclear how much more Costco can add to its membership base.

DraftKings – DraftKings' shares rose more than 3% after Argus launched coverage of the online gambling company with a buy rating. The Wall Street company said the online gaming industry is at an early stage of growth and DraftKings will continue to benefit from its market leadership.

Tesla – Shares in the electric vehicle maker rose more than 4% to wrap up a volatile week of trading with the Elon Musk-led company. Over the week, the stock is still more than 8% down on Tuesday's highly anticipated Battery Day.

Penn National Gaming – The gambling company's shares rose more than 7% after Penn National announced that the 14 million-share offering was valued at $ 61 per share. The offering will raise a minimum of $ 854 million before subtracting subscription discounts and other costs.

Nikola – Electric truck maker shares rose more than 3% to end a difficult week for the stock on a high note. The stock is down more than 40% from the week after founder and chairman Trevor Milton announced his resignation on Monday after short-selling firm Hindenburg Research accused the company of fraud.

CNBC's Jesse Pound, Yun Li and Maggie Fitzgerald contributed to the coverage.

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