Peloton Interactive Inc. logo. On a stationary bike at the company’s showroom in Dedham, Massachusetts, US, on Wednesday, February 3, 2021.
Adam Glanzmann | Bloomberg | Getty Images
Check out which companies are making the headlines in midday trading.
peloton – Shares fell 12% after the equipment maker revealed it was hoarding excess inventory and burning money in Disappointing earnings report. Peloton also released a bleak sales forecast for the fiscal fourth quarter and expects the upcoming price hike to cause the company to lose some subscribers.
Novavax Stocks fell 2% after the vaccine maker missed its higher and lower estimates The last quarter. However, the first quarter was Novavax’s first profitable quarter. The company also reiterated its previous revenue forecast for 2022, and forecast an acceleration in vaccine sales during the current quarter.
from The online used car seller saw shares rise 19% after reporting a smaller-than-expected quarterly loss and better-than-expected revenue. Froome also announced that Chief Operating Officer Thomas Short will become CEO.
BioHaven Pharmaceutical The drug company’s shares rose nearly 70% after that Pfizer announced a deal To buy BioHaven, its main product is a migraine pill called Nurtec. Pfizer’s stock price rose less than 1%.
cocky – Shares in the AI lending platform I retreated Nearly 59% despite better-than-expected quarterly results. The debutante lowered his full-year forecast, saying higher interest rates would hurt the size of his loans.
AMC Entertainment – The stock fell 6.7% after movie theater operator A Less than expected quarterly loss As well as revenue that exceeded analyst expectations. AMC helped release big-budget movies like “The Batman,” and the company noticed a jump in revenue per recipient above pre-pandemic levels.
Blantyre Blantyre shares fell 4% Tuesday, extending their 21% decline from Monday that followed a disappointing first-quarter report with poor guidance. RBC Capital Markets downgraded Palantir to perform poorly, saying the company will have trouble meeting its revenue growth targets.
sunron – Shares of the solar energy company fell more than 8% after KeyBanc downgraded the stock to an overweight sector rating. The company noted “the significant uncertainty presented by the recent proposed decision related to net metering reform in [California]. “
CNBC’s Jesse Pound and Sarah Main contributed reporting