Visitors walk past a Boeing display during the Farnborough Airshow in Farnborough on July 18, 2022.
Justin Tallis | AFP | Getty Images
Take a look at the companies making headlines in midday trading.
Boeing: The aerospace company fell 6% after reaching a $200 million settlement on charges of misleading investors after two of its planes were involved in fatal crashes.
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FedEx: Shares fell about 4% to a new 52-week low after the delivery company announced plans to raise rates by 6.9% to 7.9%.
Costco: The wholesaler, which said it would not raise member prices this week, saw shares fall 4%. Costco posted earnings that beat expectations and showed year-over-year gains, but also said it was experiencing higher labor and freight costs.
CalAmp: The software company plunged 17% despite an earlier rally. CalAmp posted a smaller-than-expected loss in its second-quarter earnings, while pointing to record revenue in the subscription and software categories.
Ally Financial: Shares of the financial services company fell 4% after Wells Fargo downgraded the stock to match the weight of the overweight. The Wall Street firm said it will be difficult for Ally to outperform as the price of used vehicles continues to fall and as the consumer works with the headwinds of inflation.
Qualcomm: Shares declined 3% even as JPMorgan said it reiterated the stock as overweight because of the wireless company’s automotive opportunities.
fuboTV: Shares rose 3.4% after Wedbush upgraded the streaming service to outperform, saying fuboTV is at a “compelling entry point” for investors.
Domino’s Pizza: Domino’s Pizza advanced 2.1% after BMO upgraded the stock to outperform, forecasting a rebound for the fast-food chain on strong demand.
Coinbase: Shares of Coinbase fell 4% after JPMorgan cut its price target and reiterated the stock as neutral, citing concerns about weak activity levels in cryptocurrency sales. Although the cryptocurrency exchange has been diversifying its services and sources of income, this business still accounts for the majority of its income, and trading activity tends to stop when prices are low. Crypto assets sold off with other risky assets on Friday.
Advanced Micro Devices: Shares hit a new 52-week low for the semiconductor company, falling 3.2%. The drop comes despite Morgan Stanley reiterating the stock amid what it sees as a broad-based semi-final correction.
Marathon: The oil titan’s shares fell 11%, defying a positive report from Evercore ISI that saw the company as having strong free cash flow.
– CNBC’s Yun Li, Tanaya Macheel and Sarah Min contributed reporting
