The headquarters of the Kroger supermarket chain is shown in Cincinnati, Ohio.
Lisa Baertlein | Reuters
Check out the companies making headlines in Friday’s midday trading.
Zscaler: Zscaler rose 21.9% after reporting strong earnings in its latest quarter. The company reported adjusted earnings of 25 cents per share on revenue of $318 million. Analysts polled by Refinitiv expected earnings of 20 cents a share on revenue of $305 million.
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DocuSign: Shares rose 10.5% after the electronic contract company’s quarterly numbers beat analysts’ expectations. DocuSign’s revenue guidance for the third quarter also beat expectations, and its full-year outlook was in line with estimates.
Regeneron Pharmaceuticals: The drugmaker gained 2.2% after Morgan Stanley upgraded the stock to overweight from equal weight following the release of positive trial results for its eye drug. Regeneron soared nearly 19% the previous day on those results.
Lyft: The ride-hailing company rose 5.5% amid rumors on social media platforms that Lyft could be a takeover target. Shares were up 17% the previous day.
Kroger: Shares traded 7.4% higher after the supermarket chain beat earnings expectations for the previous quarter and raised its full-year guidance.
GameStop, Bed Bath & Beyond: Two of the biggest meme stocks outperformed on Friday as investors piled back into risk assets. Shares of GameStop rose nearly 12%, while Bed Bath & Beyond jumped 8.1%. There was no clear catalyst for the move in either stock.
RH: Shares of the company formerly known as Restoration Hardware rose 4.5% after a better-than-expected quarterly report. RH earned an adjusted $8.08 per share on $992 million in revenue. Analysts polled by Refinitiv had noted $6.71 per share on $968 million in revenue. However, the company forecast third-quarter net income to fall 15% to 18%, and its CEO said on the analyst call that the economy is in recession.
Tesla: Tesla shares rose 3.6% after a letter to the Texas Comptroller’s Office revealed the electric car giant is considering building a lithium factory in the state for electric vehicle batteries .
Navient – Shares of the student loan servicer fell 3.2% after Barclays downgraded the stock to equal weight, citing risks from President Joe Biden’s debt relief plan that could hurt the company’s earnings in the future
Enphase Energy: Enphase fell 3.7% after Guggenheim downgraded the stock to neutral from buy, saying energy stocks are “now fairly valued and unlikely to raise our estimates.”
Virgin Galactic: Virgin Galactic shares fell 4.5% after Bernstein downgraded the stock to underperform and cut its price target to $4 from $7 a share. Analyst Douglas Harned cited declining confidence in the success of the space tourism company’s business.
Caterpillar: Shares rose 3.5% after the construction equipment maker said it reached a settlement with the Internal Revenue Service, resolving a multi-year tax dispute without penalties.
National Beverage: Shares fell 7.4% after the company disappointed in its most recent earnings report. National Beverage reported earnings of 38 cents per share on revenue of $318.12 million, compared with consensus estimates of earnings of 55 cents per share on revenue of $327.29 million, according to StreetAccount.
Zumiez – The clothing retailer saw shares fall 3.8% after reporting disappointing results for its latest quarter. The company reported earnings of 16 cents per share, which missed StreetAccount’s estimate of 47 cents per share. The company’s gross margin also fell short of expectations.
– CNBC’s Tanaya Macheel, Jesse Pound, Samantha Subin and Michelle Fox Theobald contributed reporting.