Ford, Greenback Tree, GE and extra
The Ford company logo will be displayed on a sign outside of the Chicago assembly plant in Chicago, Illinois on February 3, 2021.
Scott Olson | Getty Images
Check out the companies that are making headlines in mid-day trading.
Ford – Auto stock rose 7% after rallying 8% in the previous session. Thursday’s gain came after RBC appreciated the stock to outperform the sector. Ford’s updated business strategy should sideline investors as the company’s future with electric vehicles clears.
Dollar Tree – Dollar Tree shares fell 7.7% despite the company exceeding Wall Street’s earnings and earnings expectations for the most recent quarter, according to Refinitiv. The retailer issued a full year outlook that was below analysts’ forecasts.
Dollar General – The discounter’s shares rose 2.2% after posting earnings of $ 2.82 per share for the quarter. According to Refinitiv, analysts expected earnings of $ 2.19 per share. Dollar General also raised its full-year forecast, citing improved performance from the latest round of government business reviews.
Boeing and General Electric – Stocks of Boeing and General Electric rose after aircraft manufacturer Airbus announced ambitious production plans with a target of 64 A320 models per month by the second quarter of 2023. Boeing shares rose 3.9% and General Electric shares rose nearly 7.1% after the announcement.
Octa – Okta shares fell 9.8% after the identity management software maker forecast a higher than expected loss for the current quarter. Okta also announced the departure of Chief Financial Officer Mike Kourey.
Airbnb – Airbnb’s shares rose 6.3% after RBC initiated coverage of the stock with a “buy” rating. The online platform announced several changes to its platform on Monday that focused on flexibility ahead of an expected travel boom as pandemic restrictions ease.
General Motors The Detroit automaker’s inventory rose roughly 3% after it was announced that production would resume at five assembly plants in North America next week as production ceased due to a global semiconductor die shortage. The Bupyeong 1 assembly in Korea, which has been half full since April 26, will resume full production next week.
Occidental Petroleum – Energy stock rose 3.1% after Goldman Sachs upgraded Occidental to buy from neutral. The investment firm said higher oil prices should allow Occidental to lower its debt burden.
– CNBC’s Maggie Fitzgerald, Yun Li, Jesse Pound and Tanaya Macheel contributed to the coverage
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