Fitness equipment and clothing goes on sale at the Peloton showroom in Dedham, Massachusetts, U.S., on Wednesday, February 3, 2021.
Adam Glanzman | Bloomberg | beautiful pictures
Check out the companies making the biggest moves at midday:
Peloton – Peloton shares rose 6% after The company told its employees they cut about 780 jobs, raised the price of some equipment and closed some retail stores.
Illumina – The gene-sequencing technology company fell more than 9% after reporting lower-than-expected second-quarter profit and revenue. Illumina also offered a different outlook than analysts had predicted.
New York Times – The newspaper’s shares fell 3%, retreating from a gain of nearly 11% in the previous session. Thursday’s rally came after activist investor ValueAct Capital took a 6.7 percent stake, pushing publishers to charge more for subscriber-only content.
Grill – Shares of the payments technology company jumped more than 12% after the company raised its earnings outlook for the year. The company also reported a loss in its latest quarter, but it was narrower than analysts expected.
Rivian – The electric vehicle maker’s stock rose nearly 1% after Exceeded revenue expectations in the most recent quarter and posted a smaller-than-expected loss per share. Rivian reiterated its delivery guidance for the year saying it expected a larger-than-anticipated loss.
Mark – The online fashion retailer saw its stock drop nearly 10% after issuing lower-than-expected revenue guidance for the current quarter. While reporting a loss for the second quarter, sales beat analysts’ expectations.
Teladoc – Teladoc shares increase more than 5% after DA Davidson start insurance by telehealth company with buy rating.
Olo The restaurant software maker plummeted 33% following a weaker-than-expected current-quarter and full-year revenue outlook. Also, Olo’s second-quarter revenue fell short of expectations.
Alliant energy – Wisconsin utilities increase nearly 2% after upgrade of Bank of America to buy from neutral. The company raised its price target to $70 from $62, noting that Alliant Energy is poised to be one of the winners from the Inflation Reduction Act.
LegalZoom Stocks jumped nearly 22% after the online legal platform reported quarterly results after the bell on Thursday, beating analyst expectations. While second-quarter revenue grew 9% year over year, the company reported a net loss of $13.2 million for the quarter.
Six flags – Shares of the amusement park company began to recover, falling 18.7% on Thursday, up nearly 8% on Friday. Six Flags posted second-quarter earnings that fell short of expectations on Thursday and was downgraded by Keybanc on Friday due to industry weighting due to overweight.
China’s ADR – China’s ADR year saw their shares fall after filing to remove their ADR in the US China Life Insurance down 3% and the giant oil company China Petroleum & Chemicals, known as Sinopec, fell 2.79%. China Aluminum Corporation down 2.6%, PetroChina down 3.2% and a separate Sinopec organization, Sinopec Shanghai Petrochemical Codown 2.8%.
– CNBC’s Carmen Reinicke, Samantha Subin, Sarah Min, Yun Li, and Tanaya Macheel contributed reporting.
