A banner for Pinterest Inc.’s online presence board hangs at the New York Stock Exchange on the morning of Pinterest’s IPO on April 18, 2019.
Spencer Pratt | Getty Images News | Getty Images
Take a look at the companies with the biggest gains at noon.
interest — Shares were up more than 5 percent in midday trading. Wells Fargo upgraded Pinterest to Overweight due to expectations of a partnership with Amazon later this year and optimism that Pinterest can continue to drive user engagement.
Cruise stocks — carnival Skyrocketed by nearly 10%, norwegian cruise line up about 9% royal caribbean Shares of Carnival Corp rose more than 3%, extending Tuesday’s gains, after Carnival Corp reported a smaller-than-expected second-quarter loss and issued strong guidance. This year has been booming as the industry recovers from the Covid-19 pandemic.
general mills — Shares of Betty Crocker fell 4.4% after the maker of Betty Crocker cereal mixes and Cheerios granola delivered a mixed fourth-quarter earnings report. The company’s earnings topped Wall Street expectations, with adjusted earnings of $1.12 a share, compared with the $1.07 consensus estimate by analysts polled by Refinitiv. But revenue of $5.03 billion was below analysts’ expectations of $5.17 billion.
Chip Stocks — Stocks Nvidia down less than 1% and Advanced Micro DevicesCompany An increase of less than 1%, making up for the previous loss, continued The Wall Street Journal reports The United States is considering new restrictions on the stockpiles of artificial intelligence chips sold to China.
Netflix — The streaming giant rose 4.3% after Oppenheimer raised its price target to $500 a share from $450. The Wall Street firm said it expects more subscribers and may discontinue the lowest-priced, ad-free plan it is testing in Canada.
Joby Air — The company’s share price soared nearly 41% declared licensed Started flight testing its first electric vertical take-off and landing vehicle (eVTOL).
aviation environment — The military drone maker reported revenue of $186 million after the market closed on Tuesday, beating analysts’ forecast of $164 million, with shares up 3.3 percent, according to the Refinitiv consensus forecast. AeroVironment also said it expects full-year revenue of $630 million to $660 million, beating analysts’ forecast of $600 million.
zoom information — ZoomInfo software stock rose more than 6% after Needham initiated a buy rating on the software. In a note to clients, Needham said ZoomInfo has “best-in-class unit economics.” ZoomInfo also received positive coverage from Morgan Stanley, which reiterated its Overweight rating on the stock.
snowflake — Shares of the data cloud company rose 5.5 percent after reiterating its full-year guidance at an investor day on Tuesday. After the event, Goldman Sachs reiterated its buy rating on Snowflake, while Morgan Stanley maintained its overweight recommendation.
Seco International — Shares of the maker of flow control products for users in the industrial, aerospace and defense markets rose 4 percent Reuters reports Private equity firm Arcline’s bid of $57 a share was higher than that of KKR’s rivals.
First Citizens BancShares — The regional bank rose 2.3% in midday trading. Atlantic Equities initiated coverage on the North Carolina bank on Wednesday with an overweight rating and a price target of $1,775 per share, which suggests nearly 50% upside from Tuesday’s close.
— CNBC’s Alex Harring, Brian Evans, Jesse Pound and Michael Bloom contributed reporting.
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