ViacomCBS, Discovery – Media stocks trapped in Archegos Capital Management’s margin call last week rebounded on Tuesday, reducing their recent losses. Class B shares of ViacomCBS rose 4%, while class A shares of Discovery jumped 9.7%.
Nomura, Credit Suisse – Shares of Nomura and Credit Suisse fell again at midday after news of an anticipated loss of fallout from sales of Archegos Capital shares. Nomura fell more than 2% and Credit Suisse fell around 3%.
Wells Fargo – The bank’s stock jumped 2.8% after announcing it was no longer exposed to Archegos. “We have not incurred any losses related to the liquidation of our exposure,” the bank said in a statement.
Roku – Video streaming stock jumped 3% after Truist Financial upgraded the business to buy on hold. The Wall Street firm said it saw more benefits to come and that the company’s valuation was “sustainable.”
BioNTech – Shares of the biotech company rose more than 7% after BioNTech increased its manufacturing target for its Covid-19 vaccine. The company is targeting 2.5 billion doses manufactured by the end of 2021, compared to a previously expected production of 2.3 to 2.4 billion doses.
McCormick – Shares of the spice company rose more than 1.7% after McCormick beat upper and lower earnings estimates in its first fiscal quarter. The company earned 72 cents a share excluding items and posted sales of $ 1.48 billion. Analysts polled by Refinitiv expected 59% earnings per share and $ 1.38 billion in revenue. The company has also raised its outlook for the full year as the pandemic continues to boost home cooking.
FactSet – Shares of the financial information provider fell more than 4% after analysts missed estimates for its quarterly EPS. FactSet reported adjusted quarterly earnings of $ 2.72 per share, below the consensus estimate of 2 cents, while earnings were in line with Wall Street expectations.
Yep – The review site operator’s shares jumped more than 4% after Citi upgraded the stock to buy at neutrals. The bank said Yelp is a key beneficiary as the economy reopens and consumers return to dining.
DraftKings – Shares of the sportsbook company jumped 3.5% after it announced it had acquired sportsbook and content company VSiN for an undisclosed amount.
Tegna – Broadcasting stock rose more than 4.5% after Tegna announced a dividend hike. The company’s new payout will be 10 cents per share higher on an annual basis, up 36% from the previous dividend.
– with reporting from CNBC’s Pippa Stevens, Yun Li, Jesse Pound and Rich Mendez.