Visitors crowd around the Nvidia booth at the China Digital Entertainment Expo 2016, known as ChinaJoy, in Shanghai.
STR | AFP | Getty Images
Check out the companies that are making the headlines in midday trading.
Didi Global – Shares in the Chinese ride-hailing giant rose 3%, posting double-digit gains for the week, while a Bloomberg News report on Beijing may take over the company. Beijing is considering a plan to bring Didi under state control by acquiring a stake through state-owned companies such as the Beijing Tourism Group, the report said. According to the report, which quoted people familiar with the matter, it is still an early-stage proposal that has yet to be approved by the government.
MongoDB – The database company's shares rose nearly 25% on Friday after quarterly results were announced late Thursday. The company posted a loss of 24 cents per share, which was less than its analyst estimate of 39 cents. However, it exceeded sales estimates and gave a positive sales forecast for the current quarter.
PagerDuty – Software company PagerDuty rose more than 11% after it released its quarterly results. It reported an adjusted loss of 13 cents per share compared to an analyst estimate of 11 cents, but it gave a strong outlook for sales for the current quarter.
DocuSign – The e-signature solutions provider saw its stock rise 5% after reporting adjusted earnings of 47 cents per share, beating Wall Street forecasts by 7 cents. DocuSign has also increased its annual forecast for total revenue, subscription revenue, and billing.
Joann Inc – The craft company's shares fell more than 16% after Telsey downgraded the stock from Outperform to Market Performance and lowered its price target on the stock from $ 18 to $ 14. The company said there was "limited insight" into how sales will normalize in a post-Covid era after Joann saw increased demand during the pandemic.
Broadcom – The chip maker climbed more than 1% after announcing quarterly earnings. The company posted adjusted earnings of $ 6.96 per share, beating estimates by 8 cents. It also slightly outperformed quarterly revenue and gave an optimistic outlook for the current quarter as it continues to see strong demand in the 5G cellular market.
fuboTV – The sports streaming company rose 1.5% after Arizona gaming division granted FuboTV a mobile betting license in the state. This makes Arizona the second state to allow mobile betting for Fubo, following its recent approval by the state of Iowa.
Nvidia – Shares rose 1.8% after Jefferies reiterated its buy rating for the stock and raised its price target from $ 233 to $ 260. The company said Nvidia can run even higher because of its growing data center and software segments.
– CNBC's Yun Li and Hannah Miao contributed to the coverage
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