Finance News

Shares that make the most important strikes round noon: Wynn, SoFi, Diamondback Power, and extra

A worker cleans an escalator on Las Vegas Boulevard in Las Vegas, Nevada, United States on Tuesday, March 17, 2020.

Joe Buglewicz | Bloomberg | Getty Images

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

Casino stocks – Casino stocks were under pressure for a second day on Wednesday as the Macau government had tightened scrutiny and Chinese health officials reported a Covid-19 outbreak. Wynn Resorts lost nearly 8% while MGM Resorts and Las Vegas Sands lost around 4%.

EOG Resources – The exploration and production company's shares rose more than 6% as commodity prices rose on Wednesday. Each component of the S&P 500 energy sector gained at least 1%, with Occidental and Marathon Oil both up more than 5%. Diamondback Energy was up over 6%. West Texas Intermediate crude oil futures, the US oil benchmark, rose about 3% after a stronger-than-expected US inventory.

Weber – The grill maker's shares rose more than 6% after posting first quarter results since public trading began in August. Weber posted year-over-year sales growth of 19% and forecast full-year sales above current Wall Street forecasts.

Canadian National Railway – The railroad company's shares rose 3.5% after the company announced that its proposed merger with Kansas City Southern was officially canceled, with Canadian National earning $ 1.4 billion in termination fees. Kansas City Southern has now entered into a new merger agreement with Canadian Pacific. These stocks were both up slightly on Wednesday.

Just Eat Takeaway – The grocery delivery company stocks slipped more than 4%. The decline came after Amazon and Deliveroo announced a partnership that will offer free grocery delivery to Amazon Prime members in the UK.

SoFi – The fintech company's shares rose more than 5% after Mizuho began reporting on a buy rating. The Wall Street firm has assigned the stock a target price of $ 28, compared to Tuesday's closing price of $ 14.50. Mizuho said it sees a cycle of "increased engagement, increased sales and profits" for Sofi.

Sage Therapeutics – The drug company’s shares rose over 4% after the US Food and Drug Administration granted it fast-track status for its experimental treatment for Huntington’s disease. Sage is expected to begin the second phase of a trial for the treatment before the end of the year.

Citrix Systems – Citrix shares rose more than 2% daily after Bloomberg News reported that the workplace software maker is working with consultants to consider a possible sale of the company. The company may ultimately choose to remain independent, but will be assessing potential interest in the company over the next few weeks, according to the report.

Yum China – Yum China lost over 6% after warning that the delta variant spread could hurt its earnings by 50% to 60% in the third quarter. The restaurant operator had closed more than 500 restaurants or restricted the service in August because of the outbreak of the variant in China, it said.

– CNBC's Hannah Miao, Pippa Stevens, Maggie Fitzgerald, Jesse Pound and Yun Li contributed to the coverage

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