GameStop, Carnival, General Mills et plus

GameStop, Carnival, General Mills et plus

Find out which companies are making the headlines in midday trading.
GameStop – The physical retailer’s shares fell 17% after failing to give investors enough details about its recovery plan and admitting in a filing that it was considering selling additional shares. GameStop also missed the high and low in its quarterly results on Tuesday.

Dave & Buster’s – Shares of the entertainment and arcade company jumped more than 4% after Raymond James reiterated his strong buy rating ahead of Dave & Buster’s earnings report. The Wall Street firm said it saw an “attractive” entry point after the stock’s recent pullback.

American Airlines, Norwegian Cruise Line – Stocks that are dependent on the economy reopening rose on Wednesday after being hit in the previous session amid recovery fears. American Airlines shares rose more than 2%, while United Airlines climbed nearly 3%. Carnival rose 5%, while Norwegian Cruise Line and Royal Caribbean jumped more than 4%.

General Mills – Shares of the food company fell more than 5% after General Mills missed profit estimates in the third quarter. The company earned 82 cents per share excluding items, compared to 84 cents that analysts polled by Refinitiv had expected. However, revenues exceeded estimates, reaching $ 4.52 billion from an expected $ 4.45 billion.

Bank of New York Mellon – The bank’s shares jumped more than 3% after Bank of America raised stocks two notches to buy underperformance. The Wall Street firm said Bank of New York Mellon would benefit from an improved income and profit outlook, as well as an attractive valuation.

AMC Entertainment – The film channel’s shares have slipped more than 4% after Disney said it was pushing back the release of “Black Widow” from May 7 to July 9. The film, along with “Cruella,” will also be available on Disney + for an additional rental fee. AMC shares are down more than 26% so far this week.

FedEx – Shares of the shipping giant rose nearly 2.5% after Barclays named FedEx as the first choice. The company said in a note to customers that it expects the company’s cash flow to improve in the quarters to come, after years of reinvesting these products in the delivery network.

Winnebago – Recreational vehicle inventory fell more than 2% on Wednesday despite a better-than-expected budget report for the second quarter. Winnebago earned $ 2.12 per share on $ 840 million in revenue. Analysts polled by Refinitiv were looking for $ 1.42 per share and $ 805 million in revenue. The Company’s deliveries of its “Class A” units have declined year on year even as total deliveries have increased.

Adobe – Shares of the computer software company fell 1% despite exceeding first quarter earnings estimates and increasing its outlook for fiscal 2021. Adobe has raised its revenue guidance for fiscal year 2021 to $ 15.45 billion, up from the previous forecast of $ 15.15 billion. The company also raised its earnings per share forecast for fiscal 2021 from $ 11.20 to $ 11.85.

Estee Lauder – Shares of the beauty retailer rose 3% after Wells Fargo improved Estee Lauder to an even weighting overweight ahead of its third quarter report. The Wall Street firm said Estee Laurder’s long-term sales and margin potential were “attractive.”

Steelcase – Shares of the office furniture maker fell less than 1% after the company released a weaker-than-expected projection as demand for office products remained weak. Steelcase reported earnings per share of 6 cents for the most recent quarter, beating Refinitiv’s estimate of a loss of 1 cent. His income also exceeded expectations.

– with reporting from CNBC’s Yun Li, Pippa Stevens, Jesse Pound and Rich Mendez.


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