Tesla — In Friday’s noon trade, the stock price of the manufacturer of electric vehicles rose 1.5%. Prior to the release of the vehicle deliveries figures on Thursday, Canaccord Genuity reiterated a buy rating on the EV stock. In other news, Citi downgraded its vehicle delivery prediction from 468,500 to 450,000 while maintaining its neutral stance on Tesla. A missed delivery target was predicted by Barclays last week.
Shares of Anheuser-Busch InBev, a beer company with U.S.-listed shares, increased 3.2% after being upgraded to buy from neutral. The company cited an inflection point for margins and a more creative portfolio strategy as reasons for the increase.
Shares of the cruise line, Carnival, fell 4.9% in noon trading. For the fiscal fourth quarter, Carnival projected a loss of 10 cents to 18 cents per share, while analysts surveyed by LSEG, now known as Refinitiv, predicted a loss of 10 cents per share. Separately, Carnival topped earnings expectations by reporting adjusted earnings of 86 cents per share on revenue of $6.85 billion for the third quarter of its fiscal year. Norwegian Cruise Line, a rival, too experienced a 3% decline.
The well-known chipmaker’s stock price rose just 1%. In a recent analysis, Citi referred to Nvidia’s next Blackwell B100 GPU generation as a significant stock catalyst anticipated to have an impact on the first half of 2024, driving both profits and sales. The company kept its buy recommendation for Nvidia shares.
After the well-known sneaker company released a mixed fiscal first-quarter report, its shares increased by 6.6%. In line with LSEG’s surveyed analyst predictions of 75 cents per share and $12.98 billion in revenue, Nike announced earnings of 94 cents per share and $12.94 billion in revenue. Nike reaffirmed its forecast for mid-single-digit full-year revenue growth.
In noon trading, Corcept Therapeutics’ stock fell 17% as a result of the ongoing legal dispute with Teva Pharmaceuticals. The Korlym Cushing syndrome medicine from Corcept is at the center of the issue, and Teva is aiming to overturn Corcept’s patent on it.
The shares of the restaurant chain increased by about 1% as a result of Northcoast Research upgrading it to a buy. The renovation placed a focus on a steady stream of customer traffic to the company’s retail locations.
- Published By Team Nation Press News