Take a look at the companies making headlines on Friday lunchtime:
Peloton – The exercise equipment maker stock rose 2.5% after the company significantly beat earnings expectations for the fourth quarter. The company earned 27 cents a share, compared to the 10 cents that analysts surveyed by Refinitiv had expected. Sales rose 172% for the quarter as people stayed at home during the pandemic.
Oracle – The software company's shares rose more than 1% after posting adjusted quarterly earnings of 93 cents per share, 7 cents above estimates, according to Refinitiv. Oracle's earnings also exceeded Wall Street forecasts. The company's better-than-expected results were supported by an increased focus on cloud-based products and services
People work remotely.
Adobe – Adobe stock rose 0.4% after Cowen upgraded the company to an outperform rating, in part due to accelerated demand thanks to Covid-19. The company also raised its price target to $ 555, which is roughly 15% above the current trading value of stocks.
Nikola – Shares in the electric truck maker fell more than 16% after Nikola dismissed fraud claims by short seller Hindenburg. CEO Trevor Milton called the allegations a "hit job". For his part, Hindenburg accused Milton of making false statements about the company's technology.
Domino & # 39; s Pizza – Domino & # 39; s Pizza rose 2.3% after Cowen upgraded the pizza chain to outperform the market. The Wall Street firm said Domino is implementing a "long-term playbook" to "drive the brand's success." Tactics Domino uses include menu and technology innovations, expanded value propositions, and increased ad spend, Cowen said.
Etsy – The online marketplace grew almost 3% after upgrading from neutral at BTIG. The Wall Street firm said Etsy had "attractive perks" for being one of the "fastest growing and best managed e-commerce companies".
Expedia – Expedia shares fell more than 2% after a UBS analyst downgraded the travel booking company from buy to neutral. The analyst said the “risk / reward” outlook for Expedia is “just as compelling at current stock prices as it was in March through May”.
Atara Biotherapeutics – Atara shares rose more than 4% on positive data from an ongoing Phase 1 study of a drug to treat progressive forms of multiple sclerosis. The company said the drug was "well tolerated" in all cohorts of study participants, adding that those who "made sustained improvements in disability at all times will keep it at all future times".
Sage Therapeutics – Sage Therapeutics shares rose 4.4% after Wedbush improved the biotech company from neutral to above average. The Wall Street firm is optimistic about Sage's new drug zuranolone, which treats depressive disorders. Wedbush said there were reasons for optimism about exposure of the drug.
Rio Tinto – US-listed stocks in the metal mining company rose 5% after the company said CEO Jean-Sébastien Jacques stepped down along with other senior executives. Rio Tinto came under fire after an explosion destroyed historically significant Aboriginal rock shelters in Australia.
– CNBC's Pippa Stevens, Yun Li and Maggie Fitzgerald contributed to this report.