July 17, 2024

[ad_1]

Striking Writers Guild of America members walk the picket line in front of Netflix offices in Los Angeles, July 12, 2023.

Mike Blake | Reuters

Check out the companies making headlines in midday trading:

Visa — The credit card behemoth’s stock fell 2.5% after announcing plans to change its share structure. Visa’s Class A shares are held by the public, its B shares are held by U.S. banks, while C shares are owned by foreign banks. The company wants shareholders to approve an exchange offer that would release transfer restrictions on portions of the Class B stock.

Semtech — The semiconductor stock rose 10% after beating earnings expectations for the second quarter. Semtech earned 11 cents per share after adjustments, exceeding the consensus estimate of 2 cents per share from analysts polled by FactSet. However, the company offered weak guidance for the third quarter.

Penn Entertainment — The sports betting company’s shares rallied 8.7% Thursday. Deutsche Bank initiated a short-term catalyst call to buy Penn, citing an inexpensive valuation ahead of the launch of ESPN BET, which debuts in November.

Netflix — The streaming giant’s shares slipped 2.8% in midday trading after Chief Financial Officer Spencer Neumann said the ongoing Hollywood writers’ strike is bad for business. Speaking at a conference Wednesday, Neumann also cautioned that its ad-supported streaming option wouldn’t help move revenue forward in the short term and said operating margins would grow slower moving forward.

Yum China — The restaurant conglomerate’s shares gained 5.4% during midday trading after it announced new financial targets and unveiled plans to expand to 20,000 locations by 2026 during an investor day.

AMC Entertainment — The meme stock darling fell 1.1% after AMC said it had completed the equity offering it announced earlier this month. The movie theater chain said it sold 40 million shares at an average price of $8.14, raising about $325.5 million.

Etsy — The e-commerce retailer’s stock rose 3.2% after Wolfe Research upgraded Etsy to outperform from a peer perform rating, citing improving consumer spending and margins.

HP — The PC and printer stock slipped 1.7% on news that Warren Buffet’s Berkshire Hathaway sold about 5.5 million shares of its stock, amounting to roughly $158 million, a regulatory filing showed.

Exxon Mobil, Chevron — Shares of the oil majors were trading higher Thursday as U.S. oil prices surpassed $90 per barrel for the first time since November 2022. Exxon shares gained 1.7%, while Chevron added nearly 1%.

— CNBC’s Samantha Subin, Pia Singh and Alex Harring contributed reporting.

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Batman138 Bro138 Dolar138 Gas138 Gudang138 Hoki99 Ligaciputra Panen77 Zeus138 Kilat77 Planet88 Gaspol168 Sikat88 Rupiah138 Garuda138 Gacor77 Roma77 Sensa138 Panen138 Slot138 Gaco88 Elanggame Candy99 Cair77 Max7 Best188 Space77 Sky77 Luxury777 Maxwin138 Bosswin168 Cocol88 Slot5000 Babe138 Luxury138 Jet77 Bonanza138 Bos88 Aquaslot Taktik88 Lord88 Indobet Slot69 Paus138 Tiktok88 Panengg Bingo4d Stars77 77dragon Warung168 Receh88 Online138 Tambang88 Asia77 Klik4d Bdslot88 Gajah138 Bigwin138 Markas138 Yuk69 Emas168 Key4d Harta138  Gopek178 Imbaslot Imbajp Deluna4d Luxury333 Pentaslot Luxury111 Cair77 Gboslot Pandora188 Olxtoto Slotvip Eslot Kuy138 Imbagacor Bimabet