View the companies grabbing attention during noon trade.
Walgreens Boots Alliance – Following the announcement that it has achieved headway with its cost-cutting programme, Walgreens Boots Alliance saw a gain of about 6% in lunchtime trading. The world’s largest retail pharmacy company reported adjusted fourth-quarter earnings of 67 cents per share on Thursday, falling short of analysts’ expectations of 69 cents per share as surveyed by LSEG.No i
ResMed — Shares of ResMed fell by 3% after RBC lowered its rating on the manufacturer of medical devices from outperform to sector perform, noting that it expects profits growth to slow down.
MongoDB — The stock increased 2% after Bank of America began to cover the software provider with a buy rating, noting its strong position to take market share away from rivals like Amazon and Microsoft.
Spotify Technology — The streaming stock increased by 2% after Morgan Stanley renamed Spotify as one of its top picks, noting that it is well-positioned for the long term and is able to win more market share due to rising engagement rates.
Birkenstock — On Thursday, the stock of the footwear brand fell by roughly 4%. On Wednesday, the German shoe company’s stock market debut saw a more than 12% decline.
First Solar – The solar stock decreased by less than 1%. Even when Barclays raised First Solar to an overweight rating, the stock price fell. The Wall Street firm claimed that the company’s current valuation presents an alluring entry point for investors and that shares trade at a discount to those of rival companies.
Ford Motor – The automaker’s stock fell by almost 2%. The action comes a day after the United Auto Workers escalated their conflict with the company by going on strike against Ford’s Kentucky truck facility. The facility is Ford’s biggest in terms of both revenue and personnel.
Shares of Hormel Foods fell by about 9% in lunchtime trade. A “historic” contract between the United Food and Commercial Workers International Union (UFCW) and Hormel Foods was ratified on Thursday, according to the UFCW, and it includes hourly pay hikes of $3 to $6. 1.3 million workers in the grocery, meatpacking, and other industries are represented by the UFCW. Hormel Foods also had their investor day on Thursday, at a separate event.
Source (CNBC)
