A pedestrian sporting a protecting masks walks previous a Walgreens retailer in San Francisco, California.
David Paul Morris | Bloomberg | Getty Photographs
Take a look at the businesses making headlines in noon buying and selling.
Walgreens — The drug retailer chain fell about 5% after the corporate reported its quarterly outcomes. Regardless of recording a beat on earnings, it didn’t elevate its forecast for the 12 months The corporate’s president mentioned on its earnings name Thursday that demand for Covid testing has slowed since January, and it might take time for its healthcare investments to repay.
Baidu — Shares for the tech firm tumbled roughly 7%. Baidu was added to the Securities and Trade Fee’s listing of U.S.-traded China shares that may very well be delisted ought to the web search firm fail to reveal monetary audits to U.S. regulators.
AMD — The chipmaker misplaced 7.1% after Barclays downgraded the inventory to equal-weight and lowered its worth goal from $148 to $115. The financial institution cited “cyclical danger throughout a number of finish markets,” together with PC and gaming as contributors to the downgrade.
Dell Applied sciences and HP — Shares of the pc tools corporations fell after Morgan Stanley downgraded Dell to equal-weight and HP to underweight. The financial institution cited ongoing macro uncertainty and a “cautious {hardware} outlook” among the many causes for the downgrade. Dell fell 5.4%, whereas HP shed 5%.
PVH — Shares of the Calvin Klein guardian fell 6.4% after Morgan Stanley downgraded the inventory to equal-weight from obese. “Anticipate the inventory to stay range-bound for now,” the agency mentioned.
Amylyx Prescription drugs — The inventory misplaced 13.5% after a Meals and Drug Administration panel voted to not suggest the approval of an experimental ALS drug developed by Amylyx. The panel mentioned examine information didn’t show that the drug was efficient in preventing the illness.
Occidental Petroleum — Shares rallied about 2% after CEO Vicki Hollub bought 14,191 of her personal firm’s shares. The strikes come after Warren Buffett’s latest shopping for spree within the outperforming vitality inventory.
UBS — The financial institution’s inventory rose 1.2% after Goldman Sachs initiated UBS with a purchase score. Goldman mentioned the rise of fintech is a optimistic for the banking business.
— CNBC’s Tanaya Macheel, Sarah Min and Samantha Subin contributed reporting
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