A monitor displays the signage of Peloton Interactive Inc. during the company’s IPO across the Nasdaq MarketSite in New York, United States on Thursday, September 26, 2019.
Michael Nagle | Bloomberg | Getty Images
Check out the companies that are making headlines in mid-day trading.
Peloton – The fitness company’s shares fell 7.3% after the U.S. Consumer Product Safety Commission issued a warning that Peloton’s Tread + product is dangerous to be used with children or pets. Peloton said it would not recall the product as a lawmaker told the company to do.
GameStop – The video game retailer rose 6.3% after the company announced that CEO George Sherman will be stepping down by July 31 to transform itself into an e-commerce company. The board is conducting a search to identify CEO candidates who can accelerate the next phase of the company’s transformation. Some investors were also encouraged that Keith Gill doubled his GameStop bet and waived millions of dollars to quickly profit from an options trade.
Coca-Cola – Beverage inventories rose 0.6% after Coca-Cola beat Wall Street estimates in the first quarter. The company reported adjusted earnings of 55 cents per share, 5 cents above expectations, according to Refinitiv. Sales were also higher than expected. The company announced that its global demand returned to pre-pandemic levels in March.
Harley-Davidson – The motorcycle maker’s shares rose 9.7% after the company topped bottom line estimates in the first quarter. The company earned $ 1.68 per share for the period, compared to what Refinitiv polled analysts of 88 cents per share. Revenue was $ 1.23 billion, just below the expected $ 1.25 billion. Harley-Davidson also raised his outlook.
Herman Miller – Shares in the office furniture maker rose 8.7% after it was announced it would buy furniture and accessories company Knoll for $ 1.8 billion in cash and stock. Knoll’s shares fell more than 33% on Monday.
Qualcomm – The chipmaker’s shares fell 2.1% after the company was downgraded from positive to neutral by Susquehanna. The company pointed to short-term advantages that lead to long-term headwinds, license and license fee battles, and competition as potential disadvantages for the company. The company also cut its price target on the stock from $ 175 to $ 155. The new price forecast is 12% above the share that closed on Friday.
Tesla – The electric car maker fell 3.4% when police officers investigated the fatal accident of a Tesla vehicle in Texas. Based on a preliminary investigation, police told KPRC 2 that they believe no one was behind the wheel.
First Solar – The clean energy inventory closed around the flatline, even after Citi switched the company to neutral on Monday. The Wall Street company believes the company is well positioned to benefit from the White House’s green energy push. Citi also raised its price target for First Solar from $ 88 to $ 100 per share.
Tribune Publishing – Tribune Publishing’s shares fell 5.2% after the Wall Street Journal reported that Swiss billionaire Hansjorg Wyss left an offer on Tribune. Stewart Bainum, chairman of Choice Hotels, is looking for a new partner for his newspaper publisher offering when he tries to outbid the hedge fund Alden Capital for Tribune.
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– with reports from Jesse Pound, Pippa Stevens and Yun Li from CNBC.