Stocks making the biggest moves noon: Electronic Arts, Glu Mobile, Hanesbrands and more

Here are the shares making headlines on Wall Street at noon.

Electronic Arts, Glu Mobile – The online game shares rose on Tuesday after EA introduced that it had agreed to accumulate Glu for $12.50 per share, giving the firm a bigger foothold in the cell gaming area. Shares of EA rose 2.6%, whereas these for Glu surged almost 35% to commerce close to the supply value.

Simon Property Group – Shares of the mall operator gained 3.7% after Simon Property gave an optimistic outlook for 2021. Looking forward, the firm mentioned it anticipates a restoration in retail tenants in addition to an enchancment in hire assortment charges.

Coty – The cosmetics firm’s shares slid more than 15% after Coty mentioned income fell 16% 12 months over 12 months. The firm did, nonetheless, beat earnings estimates throughout the second quarter. Coty earned an adjusted 17 cents per share, in comparison with the 7-cent revenue analysts have been anticipating. Revenue barely missed estimates, coming in at $1.42 billion versus the anticipated $1.43 billion.

GameStop – Shares of the online game retailer continued their retreat from a Reddit-fueled spike, falling 16% to commerce at roughly $50 per share. The inventory closed at $325 per share on Jan. 31.

Hanesbrands – Shares of Hanesbrands almost 25% following the clothes firm’s robust quarterly earnings, boosted by gross sales in its home outerwear division and progress in its Champion model. Hanesbrands reported earnings of 38 cents per share, 9 cents above estimates, in keeping with Refinitiv. Revenue got here in at $1.Eight billion, larger than the forecast $1.64 billion.

DuPont – The chemical inventory slumped 3% regardless of better-than-expected outcomes for DuPont’s fourth quarter. The firm’s income steering for 2021 was lighter than anticipated, in keeping with FactSet.

Cleveland-Cliffs – Shares of the metal producer dropped more than 8% after the firm introduced it was holding a secondary inventory providing of 60 million shares. The providing contains 20 million shares from the firm and 40 million shares from shareholder ArcelorMittal. The firm can be issuing a further $1 billion in debt. The firm mentioned it plans to make use of the funds raised to retire present debt.

Take-Two Interactive – The online game inventory fell more than 6% regardless of the firm reporting higher-than-expected income for its fiscal third quarter. Take-Two reported $814 million in web bookings for the interval, whereas analysts surveyed by Refinitiv have been anticipating $747 million. MKM Partners mentioned in a notice that lack of visibility into Take-Two’s pipeline was a unfavourable for the inventory.

Canopy Growth – The marijuana inventory jumped nearly 12% after Canopy’s third-quarter income topped expectations. The firm reported $153 million income, whereas analysts surveyed by Refinitiv had penciled in $150 million. That mark was a 23% enchancment from the identical quarter final 12 months.

Jack Henry & Associates – Shares of the monetary providers tech firm dropped 5.5% after the firm’s second-quarter income got here in lighter than anticipated. The firm reported 94 cents in earnings per share and $422.four million in income. Analysts surveyed by FactSet anticipated 86 cents per share and $432.7 million in income.

Carrier Global – Shares of Carrier Global sunk more than 6% after lacking Wall Street’s estimates for its fourth quarter earnings. The firm reported earnings of 31 cents per share, lacking estimates of 36 cents per share, in keeping with Refinitiv.

– CNBC’s Pippa Stevens and Maggie Fitzgerald contributed to this story.

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Written by Business Boy


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