The Carnival Cruise Ship "Carnival Vista" sails out to sea in the port entrance of Miami known as Government Cut in Miami, Florida on June 2, 2018.
RHONA WISE | AFP | Getty Images
Check out the companies that are making headlines in midday trading.
Carnival – Carnival shares rose 3% after the cruise line said travel had positive cash flow for the third quarter and expects this to continue. Norwegian Cruise Line's shares rose roughly 3% and Royal Caribbean rose 2.8%.
Match Group – Match Group's shares rose about 4% after the online dating platform announced on Thursday that it would sell its common stock as part of a registered direct offer. The price per share and the number of common shares issued are calculated using a volume-weighted average price over a five-day average period starting Friday, the company said.
Merck – The pharmaceutical giant's shares rose 0.8% on Friday after Merck and AstraZeneca announced that treatment with the drug Lynparza had shown positive results in a Phase III study. The study results suggest that the treatment slows prostate cancer progression and shows a trend towards increased survival, the companies said.
Nike – The apparel stock fell 6.3% after Nike cut its annual forecast for sales growth. The company said supply chain issues in Vietnam are holding back sales. Nike is now forecasting mid-single-digit revenue growth for fiscal 2022, below its previous low double-digit growth forecast.
Costco – The retailer's shares rose 3.3% following Costco's fourth quarter results. The company beat sales and earnings estimates for the quarter, making $ 3.90 per share, blank on revenue of $ 62.68 billion. Analysts polled by Refinitiv expected $ 3.57 per share on sales of $ 61.3 billion.
Salesforce – Salesforce added earnings Thursday to up 2.8% after Piper Sandler overweighted the stock from neutral to overweight and said it was confident the company could see "a multi-year period of multiple and earnings growth." The stock rose Thursday after the software company raised its full-year 2022 revenue forecast.
Coinbase – The cryptocurrency exchange's shares slipped 2.4% even after Needham reiterated the stock as a buy. Cryptocurrencies collapsed on Friday morning after it became known that China is taking further crackdown on cryptocurrencies. Coinbase generates 90% of its revenue from retail transactions, according to Needham, which correlates strongly with the prices of crypto assets, so that the share price tends to move in parallel with the cryptocurrencies.
Cheesecake Factory, Dave & Buster & # 39; s – Cheesecake Factory and Dave & Buster & # 39; s added 5.1% and 4.3%, respectively, after Jefferies upgraded restaurant stocks to buy off hold. "We see the full-service category increasingly positive after the delta / inflation sell-off and the exuberant consensus forecasts," said Jefferies.
Roku – Roku shares fell 3.8% after Wells Fargo downgraded its video streaming platform from overweight to equal weight. Wells Fargo said increasing competition is likely making expectations for Roku's top-line growth too high.
– CNBC's Jesse Pound, Pippa Stevens and Tanaya Macheel contributed to the coverage
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