Snowflake banners adorn the New York Stock Exchange to market the software company's debut in New York on September 16, 2020.
Check out the companies that are making headlines in midday trading.
Tesla – The electric car maker's shares were down 4.15% ahead of the company's highly anticipated battery day on Tuesday. "Our best guess: TSLA will announce plans to significantly expand the production capacity for battery cells to cope with the growing vehicle production," said research company Baird in a statement to customers on Thursday.
Dave & Buster & # 39; s Entertainment – The restaurant and arcade chain's inventory fell 26.13% after the company warned of bankruptcy if it couldn't reach an agreement with lenders, according to a report in the Wall Street Journal . The company will also lay off more than 1,300 employees, according to WARN notices filed locally.
Domino & # 39; s Pizza – The pizza chain's shares rose 2.36% after Oppenheimer named the stock a top idea. In a notice to customers, the company said Wall Street had underestimated the company's revenue growth in the same store in 2021.
Ford – The stock rose 3.7% after the automaker announced it would differentiate its upcoming all-electric F-150 pickup from competitive offerings from Tesla and General Motors by turning to heavy haulage and towing rather than recreation. Pickups are key to Ford’s profitability, as the series had sales of around $ 42 billion in the US last year, which is about 30% of total sales in 2019.
Herman Miller – Furniture stocks rose 33.47% after the company beat earnings estimates and reintroduced dividends. Herman Miller reported adjusted earnings per share of $ 1.24 for the first quarter of fiscal, while analysts surveyed by FactSet were expecting just 26 cents. Sales also exceeded estimates by almost 20%, but declined compared to 2019. The company's reinstated quarterly dividend will be just under 19 cents per share.
Snowflake – Among other technology stocks, shares of software company Snowflake fell 10.39% after its IPO on Wednesday, the biggest software debut in history. The stock rose 111% on the first day of trading. Snowflake was valued at $ 70.4 billion at the end of the trade, more than five times its valuation of $ 12.4 billion as of February.
Penn National Gaming – The sports betting company's shares rose 7.6% after Stifel raised its price target from $ 47 per share to $ 85 per share. The games company made a significant investment in Barstool Sports, a sports media company led by Dave Portnoy, earlier this year and has seen its shares rise. The "Portnoy Momentum Trade" still has room to run, the note says.
First Solar – The solar panel installer's shares were down 11% after the company announced a secondary offering of approximately 8.6 million shares, representing 8.2% of the shares outstanding. The stock is being sold by early investor Lukas Walton, which means that no new shares will be offered. First Solar does not receive any sales proceeds.
Stitch Fix – Stitch Fix stocks rose 0.11% after Needham updated their online personal styling service to buy from a hold rating. The Wall Street company said the company is getting stronger by diversifying its model and becoming more aggressive in acquiring customers, while benefiting from worldly tailwinds.
– CNBC's Maggie Fitzgerald, Yun Li and Jesse Pound contributed to the coverage.
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