Tesla CEO Elon Musk arrives for a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., on Sept. 13, 2023.
Andrew Caballero-Reynolds | AFP | Getty Images
Check out the companies making headlines in midday trading.
Tesla — The stock of Tesla, the leading electric vehicle company, rose 1.5% during midday trading on Friday. Canaccord Genuity reaffirmed the company’s buy rating ahead of the release of vehicle deliveries data. However, Citi maintained a neutral stance on Tesla and lowered its vehicle delivery forecast from 468,500 to 450,000. Barclays previously predicted that Tesla would fall short of its delivery target.
Anheuser-Busch InBev — The U.S.-listed shares of beer giant Anheuser-Busch InBev surged 3.2% after receiving an upgrade to buy from neutral. The company’s improved margins and innovative portfolio strategy were cited as key factors for the upgrade.
Carnival — Shares of the cruise operator fell 4.9% during midday trading. Carnival projected a loss of 10 to 18 cents per share for the fiscal fourth quarter, slightly worse than the expected loss of 10 cents per share. However, Carnival exceeded earnings estimates for the fiscal third quarter, with adjusted earnings of 86 cents per share on $6.85 billion in revenue. Competitor Norwegian Cruise Line also experienced a 3% decline.
Blue Apron — The shares of meal kit company Blue Apron skyrocketed over 134% following the announcement of its acquisition by Wonder Group for $13 per share. This price represents a premium of approximately 137% compared to the previous closing price of $5.49 per share.
Nvidia — The shares of chipmaker Nvidia rose 1%. In a recent note, Citi stated that the upcoming release of Nvidia’s Blackwell B100 GPU would be a significant catalyst for the company in the first half of 2024, boosting both sales and margins. The buy rating on Nvidia stock was reiterated.
Nike — The shares of sneaker giant Nike surged 6.6% following a mixed fiscal first-quarter report. Nike reported earnings of 94 cents per share and $12.94 billion in revenue, surpassing analysts’ expectations. The company also reaffirmed its guidance for midsingle-digit full-year revenue growth.
Walgreens — The shares of pharmacy giant Walgreens jumped over 6% following reports that they are considering former Cigna executive Tim Wentworth as their next CEO. This comes after the departure of Roz Brewer in late August.
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