Goldman, Pfizer, Cheesecake Factory, Alibaba and more

A Cheesecake Factory restaurant in Louisville, Kentucky.

Andy Lyon | Getty Images

Check out the companies making the biggest moves at midday:

Goldman Sachs – The bank fell more than 2% after reporting earnings per share and revenue that missed Wall Street estimates on Tuesday.

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Pfizer – Wells Fargo downgraded the pharmaceutical giant to equal weight to overweight on Monday, saying the company needed a pandemic reset to get stocks working again. Pfizer was down 1.25% premarket.

Morgan Stanley – Morgan Stanley’s earnings beat Wall Street expectations on Tuesday, thanks in part to record wealth management revenues. Shares were 1% higher in pre-market.

Vodafone — The British telecommunications company rose nearly 2% in pre-marketing. On Monday, Ghana approved Vodafone’s sale of its 70% stake in Vodafone Ghana to the Telecel group. Vodafone was upgraded to buy by Bank of America on Thursday, which said it was optimistic about the company’s prospects amid the departure of CEO Nick Read.

Global Payments – Morgan Stanley upgraded Global Payments to overweight from equal weight on Tuesday, citing a more favorable competitive backdrop and attractive valuation, among other things. The company gained 2% in the pre-market.

Church and Dwight – Morgan Stanley upgraded the overweight consumer goods maker from equal weight and raised its price target to $91 from $82. Church & Dwight gained more than 1% pre-market.

cheesecake factory – The restaurant chain slid more than 3% after it was downgraded to neutral by Citi since the purchase, which said the shares were close to its price target. Cheesecake was also downgraded to being owned by Gordon Haskett.

Blooming brands – Parent company Outback Steakhouse slid nearly 2% after being downgraded by Gordon Haskett, who cited the company’s growing balanced risk/reward profile.

Roku – Roku shares fell 1.8% after Truist downgraded the company to a buy rating, saying the streaming stock is hypersensitive to a tough macro environment given that much of the revenue is tied to advertising.

Break – JMP Securities downgraded the company to market performance versus market outperformance, citing declining time spent on Snap and increased competition from Reels and YouTube shorts. Snap slid 1.4% in premarket.

Ali Baba – Activist investor Ryan Cohen has taken a stake in the Chinese e-commerce giant, according to the Wall Street Journal. Cohen is pushing the company to increase its stock buyback program, according to the report. Shares were 0.5% higher in premarket.

Reynolds Consumer Products – Shares fell about 1.3% after Credit Suisse downgraded the homewares maker from neutral to outperforming, saying equity gains are now priced in.

Tourbillon – Shares fell 3% after Whirlpool announced it would divest the majority of its EMEA business and form a new Europe-focused business with Turkish home appliance maker Arcelik. Whirlpool will hold 25% of the new entity, while Arcelik will hold 75%.

– CNBC’s Sam Subin, Sarah Min and Michael Bloom contributed reporting.


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