Walgreens, AMD, Dell and many more

A pedestrian wearing a protective mask walks past a Walgreens store in San Francisco, California.

David Paul Morris | Bloomberg | Getty Images

Check out the companies that made headlines in the midday transaction.

Walgreens – The drugstore chain is down nearly 5% after the company reported its quarterly results. Despite recording a beat on earnings, it did not raise its forecast for the year.

Baidu – Shares of technology company down nearly 7%. Baidu was added to the Securities and Exchange Commission’s list of US-traded Chinese stocks that could be listed if the Internet search agency fails to disclose financial audits to US regulators.

The chipmaker lost 7.1% after the AMD-Barclays stock was weighed down and its price target dropped from $ 148 to $ 115. The bank cited “cyclical risks across several end markets”, including as contributors to PC and gaming downgrades.

The share price of computer equipment companies fell after Dell Technologies and HP-Morgan Stanley downgraded Dell to equal weight and HP to lower weight. The bank cited ongoing macro uncertainty and a “cautious hardware approach” as reasons for the downgrade. Dell is down 5.4%, while HP is down 5%.

PVH – Calvin Klein’s share price fell 6.4% after Morgan Stanley dropped the stock from overweight to equivalent weight. “We expect the stock to be range-bound for the time being,” the firm said.

Amylyx Pharmaceuticals – The stock lost 13.5% after the Food and Drug Administration panel voted not to approve an experimental ALS drug made by Amylyx. The panel said the study’s data failed to prove that the drug was effective in fighting the disease.

Occidental Petroleum – Shares rose nearly 2% after CEO Vicky Halub bought 14,191 shares of his own company. The move comes after Warren Buffett’s recent performance buy-in stock

UBS – The bank’s stock rose 1.2% after Goldman Sachs started UBS with a buy rating. Goldman said the rise of fintech is positive for the banking industry.

– CNBC’s daughters Machel, Sarah Minn and Samantha Subin contribute to the reporting

Leave a Reply

Your email address will not be published.