Stocks making the biggest moves midday: Uber, DoorDash, Coinbase and more

Stocks making the biggest moves midday: Uber, DoorDash, Coinbase and more


Uber Eats delivery

Jonathan Raa | NurPhoto via Getty Images

Check out the companies making headlines in midday trading.

Uber, DoorDash – Shares of Uber slumped 4.6% and DoorDash fell 9% on news that Amazon agreed to take a stake in Grubhub in a deal that will give Prime subscribers a one-year membership to the food delivery service.

Coinbase – Coinbase slipped 3.1% after Atlantic Equities downgraded the crypto exchange to neutral and slashed its price target, citing increased volatility in the industry.

Netflix – Netflix dropped 2.1% after Barclays slashed its price target for the streaming service to $170 from $275, anticipating a subscriber loss in the second quarter amid increased competition.

Rocket Companies – Shares of the consumer fintech company jumped 5.5% after Wells Fargo upgraded it to an overweight rating and said Rocket’s set up for a big comeback after tumbling more than 42% this year. Despite a “tough mortgage backdrop,” Rocket will “continue to take market share from its peers,” Wells Fargo said.

Rivian — The electric vehicle maker surged more than 10% after saying it’s on track to deliver 25,000 vehicles this year. In its most recent quarter, Rivian said it produced 4,401 vehicles, and delivered 4,467, in line with the company’s expectations.

Energy stocks – Energy stocks slid Wednesday as oil continued its slump from Tuesday, slipping to about $95 a barrel. The S&P 500 Energy sector fell 4% with shares of Marathon Oil, Conocophillips and Halliburton falling 5.1%, 3.9% and 4.1%, respectively. Occidental Petroleum weakened 2.5%, while Exxon Mobil fell 3.8%.

Cruise stocks – Norwegian Cruise Line Holdings slumped 9.6%, Royal Caribbean fell 5.9%, and Carnival eased 6.7% on concern about second-half cruise ship demand. Norwegian said it would no longer require guests to test for Covid-19 before joining a cruise, unless required by local regulations.

— CNBC’s Tanaya Macheel, Samantha Subin and Sarah Min contributed reporting.



Source

‘Superman’ snares .5 million in Thursday previews on way to 0 million opening
Business

‘Superman’ snares $22.5 million in Thursday previews on way to $140 million opening

David Corenswet stars are Superman in Warner Bros.’ “Superman.” Warner Bros. Discovery It’s not a bird or a plane that soared into cinemas Thursday night — it was Warner Bros.’ “Superman.” The first film in the new era of DC films under James Gunn and Peter Safran snared $22.5 million from preview showings. It’s the […]

Read More
Levi Strauss raises sales guidance, says it will absorb some tariff costs for now
Business

Levi Strauss raises sales guidance, says it will absorb some tariff costs for now

Levi Strauss raised its full-year guidance Thursday and said it’s working to absorb some of the costs it’s facing from higher tariffs, but that could change as President Donald Trump’s trade policy evolves.  The denim maker doesn’t disclose its key manufacturing hubs, but much of its supply comes from Southeast Asia. Many countries in the […]

Read More
IMAX is headed for its best year on record as it capitalizes on Hollywood’s box office rebound
Business

IMAX is headed for its best year on record as it capitalizes on Hollywood’s box office rebound

General atmosphere during an IMAX private screening for the movie “First Man” at an AMC theater in New York City on Oct. 10, 2018. Lars Niki | Getty Images Entertainment | Getty Images More than a year before “F1: The Movie” would eventually hit theaters, Apple struck a deal with IMAX. The studio secured the […]

Read More