Following the restrictions imposed on New York City on December 23, 2020 to slow down the spread of the coronavirus, New York City continued to reopen and people walked out of the AMC Empire 25 cinema in Times Square.
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Check out the companies that made the headlines in midday trading.
Tesla-the electric vehicle company̵
After AMC Entertainment-B. Riley Securities raised its stock rating to “Buy”, the movie theater company’s share price rose 15%. The company wrote in a report to its customers: “‘Godzilla vs. King Kong’ dispels people’s worries about the importance of the drama window and shows a solid path to revival.” B. Riley also targeted the stock. Increased to $13, 39% higher than Thursday’s closing price.
Carnival, Norway and the Royal Caribbean-After the Centers for Disease Control and Prevention updated its guidelines for resuming cruises in the United States, cruise operators Carnival and Norwegian Air rose by 4.4% and 6.3%, respectively. The Norwegian specifically asked the CDC whether it can resume sailing from US ports starting on July 4. The Royal Caribbean has increased by 3.4%.
Charles Schwab (Charles Schwab)-The brokerage firm rose 2.9% to a 52-week high after Goldman Sachs placed its stock on its Conviction List and announced its earnings on April 15. Strong retail participation. Goldman Sachs also raised its 12-month target price for Charles Schwab to $77 per share from $67.
Roblox-The stock of the online gaming platform has risen by more than 6% after Goldman Sachs had previously rated the stock as a buy. The Wall Street company said that Roblox’s content creation and monetization enabled it to outsource game development costs to its creators while retaining the potential for economic growth. Roblox went public through a direct listing last month.
GameStop-Video game retailers’ stock prices fluctuated significantly on Monday, falling nearly 3% at noon. The company’s stock price fell 14% earlier in the day. The weakness came after GameStop said it might sell up to $1 billion worth of additional stock due to the historic short pursuit promoted by Reddit. The company said it intends to use the proceeds to further accelerate its e-commerce transformation and strengthen its balance sheet.
Trimble-After Cathie Wood’s Ark Innovation purchased 453,214 shares, the digital construction and agriculture company’s share price soared by nearly 4.6%. Based on Thursday’s closing price of approximately US$83 per share, Ark’s acquisition is worth more than US$37.6 million.
After General Motors Ford-Wells Fargo (Wells Fargo) covered overweight companies for the first time, traditional auto stocks rose on Monday. Ford Motor’s shares rose 2.4%, while General Motors shares rose 3.7%. Wells Fargo said in a pair of notes that both Ford and General Motors are expected to become the leaders of the next generation of automobiles and transportation.
Pinterest — After the New York Times reported that the company was considering acquiring the social media company VSCO, the stock of shared photos rose 1.8%.
Planet Fitness-“Fitness Street” shares rose 1.5% after the Wall Street Journal reported that the company plans to open up to 100 new locations in the next fiscal year, and its total number now exceeds 2,100. Chief Financial Officer Tom Fitzgerald (Tom Fitzgerald) told the newspaper that Planet Fitness will also invest in its applications.
-Reporting by Pippa Stevens, Li Yun, Jesse Pound and Tom Franck from CNBC.