Stocks making the biggest moves midday: Signet Jewelers, Chipotle, Mobileye Global, Best Buy and more
Stay tuned for the latest business headlines in midday trading.
— The jewelers’ shares plunged 11% after its disappointing first-quarter revenue guidance which fell short of Wall Street estimates. The firm is anticipating revenue in the ballpark of $1.47 billion and $1.53 billion, a significant drop from the FactSet-predicted earnings of $1.61 billion.
— The fast-casual Mexican restaurant’s shares escalated 6.4% to a record high following the board’s approval of a 50-to-1 stock split. The splitting proposal, unveiled to the public on Tuesday, is aiming for a June implementation subject to shareholders approval. Deutsche Bank also hiked its stock price forecast, highlighting robust growth potentials.
— The automotive tech firm’s stock saw a 6% increase after an announcement from Volkswagen to bolster its collaboration with Mobileye. The tech firm will render new automated driving aids to the European automotive giant.
— The chemical-making corporation’s shares surged close to 5% after receiving a buy recommendation from UBS. The bank is optimistic that FMC’s stock could rally as it resumes to meet or surpass guidance, enhance its margins, and as the market foresees an end to destocking.
— The bitcoin mining corporation’s stock grew 4% following JPMorgan’s rating upgrade to overweight from neutral. The upgrade was attributed to the company’s “distinctive mix of top-tier power contracts, size, and liquidity.”
— The tech retailer’s stocks experienced a near 3% spike after Telsey boosted the rating to outperform from market perform. This upgrade was due to signs of stability and advancement due to the replacement cycle and innovative new products like Ray-Ban glasses.
— The airline operator’s shares ascended over 2% amidst numerous reports regarding its future moves. Bloomberg, referencing anonymous sources, mentioned Boeing investigating a potential sale of at least two of its defense segments. Reuters reported that Boeing is studying how Spirit AeroSystems can minimize exposure to Airbus.
— Shares of the used car dealer climbed 2% after Needham upgraded its rating to buy. The investment firm pointed to Carmax’s potential benefits from the expanding supply and declining interest rates in the used car market.
— The food corporation’s stocks uplifted 1.7% after outperforming top and bottom-line expectations in third-quarter results. General Mills posted adjusted earnings of $1.17 per share on revenue of $5.10 billion, surpassing the LSEG’s projected per-share earnings of $1.05 on revenue of $4.97 billion.
— Shares tumbled over 4% after Hindenburg Research, a short seller, issued a report undermining the data center corporation.
