Check out the companies making headlines in midday trading Friday.
Bed Bath & Beyond – Shares of the home goods retailer popped more than 2% after the company announced that three people from activist investor Ryan Cohen’s firm, RC Ventures, will immediately join Bed Bath & Beyond’s board.
Nio – The U.S.-traded shares of the Chinese electric vehicle maker dropped 9% after Nio reported its fourth-quarter results. Nio’s fourth-quarter revenue beat expectations, but its forward guidance came in below StreetAccount estimates.
Joby Aviation – The electric aviation company’s stock jumped 12% on the back of its latest quarterly results. Joby reported earnings of 1 per share after losing 31 cents per share in the year-earlier period. Morgan Stanley also reiterated the stock as overweight, noting that Joby continues to gain steam and take “meaningful steps forward in the certification and manufacturing process.”
Teva – Shares of the drugmaker gained 5.5% after Bernstein upgraded the stock to outperform from market perform, as Teva launches new products and looks to potentially settle ongoing opioid litigation.
Honest Company – Shares of the consumer goods company plummeted 22.5% on the back of mixed quarterly numbers. The Honest Company said it lost 10 cents per share on $80.4 million in revenue. Analysts expected a loss of 6 cents per share on $84.6 million in revenue, according to Refinitiv.
Fortinet – Fortinet fell nearly 1% after Bank of America downgraded to neutral from buy. The bank said strong earnings growth is already baked into Fortinet’s stock.
Alibaba, JD.com — Chinese technology stocks listed in the U.S. fell again on Friday, as they continue to face increased scrutiny in China and potential U.S. delistings. Alibaba fell 1.9%, JD.com lost 2.6%, and Pinduoduo slid 1.5%. Didi Global plummeted nearly 14%.
— CNBC’s Maggie Fitzgerald, Jesse Pound and Sarah Min contributed reporting
Source: Finance - cnbc.com
