Passersby stroll past a Dollar Tree store on December 11, 2018, in the bustling borough of Brooklyn, New York City.
Spencer Platt | Getty Images News | Getty Images
Take a look at the latest activities of prominent companies during midday trading.
Amazon — The online retail giant experienced a 1.3% decline in shares following a lawsuit from the Federal Trade Commission due to alleged deceptive practices with customers signing up for Prime and facing difficulties in cancellation.
FedEx — The delivery company witnessed a 1.7% decline in shares as quarterly revenue fell short of expectations. Additionally, CFO Mike Lenz announced his retirement, and the company provided a flat forward guidance.
Coinbase, Riot Platforms — While Coinbase faced challenges with regulatory authorities and BlackRock’s entry into the bitcoin market, its shares rose by 2.1%. Simultaneously, crypto miner Riot experienced a 4.7% increase despite the industry hurdles.
MicroStrategy — Shares of the enterprise software company surged over 5% in conjunction with a 7% boost in the value of bitcoin. MicroStrategy, known for its cryptocurrency investments, continues to show confidence in the industry.
Tesla — The electric vehicle manufacturer witnessed a 4.2% decline in shares following a downgrade from Barclays. The analyst suggests taking profits after recent successes. Additionally, Rivian, a competitor, saw a 6.7% decrease after announcing plans to offer access to Tesla’s charging network starting next year.
GlaxoSmithKline — Shares of the biopharmaceutical company rose by 1.3% as it announced the continued effectiveness of its respiratory syncytial virus vaccine for adults aged 60 and older during two RSV seasons.
Petrobras — U.S. shares of the Brazilian oil giant advanced by 4.2% after receiving an upgrade to buy from Goldman Sachs. The bank emphasizes the attractive valuation and the company’s ability to mitigate risks, suggesting the stock remains a worthwhile investment despite recent successes.
OneSpaWorld — The spa company experienced a 1.1% increase in shares due to an upgrade to buy from Loop. The upgrade highlighted the company’s exclusive rights to serve major cruise lines.
Walt Disney — Shares of the media giant declined by 1.3%, marking their third consecutive session with over a 1% decrease. Analyst Laura Martin expressed growing negativity towards Disney, raising questions about the company’s long-term plans leading up to CEO Bob Iger’s retirement in 2024.
Advanced Micro Devices
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