Kroger is opening automated warehouses across the country to create a larger and more profitable online grocery business.
Check out the companies that made headlines in the Friday noon transaction.
Robinhood – Trading App shares fell more than 7% after Goldman Sachs downgraded the stock to sell from neutral. Wall Street cited strong retail engagement levels as softening, continued weakness in account growth, and a limited path to near-term gains due to its updated outlook.
WD-40 – Lubricant maker reported quarterly results that exceeded analysts’ expectations, with the stock up nearly 9%. WD-40 reported a profit of 4 1.41 per share, easily losing a refinitiv compliance estimate of $ 1.01 per share.
EPAM Systems – Software company shares rose 12.5% while EPAM Systems said it would close its operations in Russia. Stiffel analysts said in a note on Thursday that they described the decision as “positive because it removes the most visible overhang.”
KROGER – Shares of the grocery chain rose nearly 3% after Kroger upgraded its stock to buy from Bank of America Neutral. The company believes Kroger could bear the cost of rising food prices to customers.
Goal – Shares jumped 2.5% in midday trading. On Thursday, Target was named the top retail retailer by Barclays, which said the stock had been devalued due to its underlying strength.
UPS – UPS shares fell nearly 0.8% after the Bank of America stock downgrade, citing a “decline in demand”. The bank downgraded eight more shipping companies, saying it would suffer from worrying price reductions and declining demand.
Shares of the computer maker fell nearly 3% after the stock was neutralized from the purchase of HP-UBS. UBS believes that high valuations and weak consumer attitudes will limit the reverse for HP. The call comes after Warren Buffett bought a large stake in Berkshire Hathaway Company this week.
– CNBC’s Eun Lee and Samantha Subin contributed to the report