![Stocks making the biggest moves midday: AMC, MAT, CVX, SPOT Stocks making the biggest moves midday: AMC, MAT, CVX, SPOT](https://i0.wp.com/image.cnbcfm.com/api/v1/image/106850109-1614971556103-gettyimages-1231535869-AFP_94D4PJ.jpeg?fit=%2C&ssl=1)
With the opening of AMC Empire 25 near Times Square on March 5, 2021, movie theaters in New York City reopened for the first time in a year after being closed due to the coronavirus.
Angela Weiss | AFP | Getty Images
Check out the companies making headlines in midday trading.
AMC Entertainment — Shares of movie theater chain soared 30%. A judge on Friday struck down a proposed settlement of the company’s stock-swapping plan, which would have allowed the company to issue more stock to pay down some of its debt. Respectively, AMC says It recorded its highest attendance and admission revenue for a single weekend since 2019, echoing the hype of the “Pappenheimer” phenomenon.
Giant Screen Cinema — Shares of the entertainment technology company rose about 6% as Universal Pictures’ “Oppenheimer” pushed moviegoers to IMAX screens. B. Riley analyst Eric Wold said post-pandemic over-indexing of IMAX screens in movie theaters reflects improved consumer demand for the format.
Mattel — Shares of the toymaker rose 1.9% after the successful opening weekend of the Warner Bros. movie “Barbie,” based on Mattel’s iconic doll.
Chevron — The energy stock rose 2.8 percent after the company’s quarterly earnings preview showed stronger-than-expected earnings. Chevron reported adjusted profit of $3.08 a share, beating Wall Street’s consensus estimate of $2.97 a share, according to Refinitiv data. The company’s board will waive CEO Mike Wirth’s mandatory retirement age to give the company more time to find a successor. Chevron also named a new chief financial officer.
Knight Swift Transport — Shares of the trucking company rose more than 1 percent. Late last week, the company released a weaker-than-expected second-quarter financial report. Knight-Swift reported adjusted earnings of 49 cents per share on revenue of $1.55 billion. Analysts were expecting earnings of 55 cents a share on revenue of $1.6 billion, according to Refinitiv.
intuitive surgery — Healthcare shares fell 3.5 percent. Last week, the company reported stronger-than-expected earnings and revenue for its latest quarter. Intuitive Surgical reported adjusted earnings per share of $1.42 on revenue of $1.76 billion. That compares with earnings of $1.33 a share on revenue of $1.74 billion, according to Refinitiv.
Domino’s Pizza — Shares of Domino’s Pizza rose 1.6%. The fast-food chain reported mixed quarterly results, including adjusted earnings of $3.08 a share, beating analysts’ forecast of $3.05 a share. Domino’s said global retail sales rose 5.8 percent during the period, excluding currency effects.
Becton Dickinson — Shares of the medical technology company rose more than 6% after Raymond James rated Becton Dickinson an outperform. The company received clearance from the U.S. Food and Drug Administration for its updated BD Alaris infusion system, which helps monitor patients’ vital signs and deliver medications, blood and other fluids.
SiriusXM — Deutsche Bank downgraded the audio entertainment company’s stock to “sell” from “neutral,” citing a premium valuation after its shares doubled over the past month, with the company’s shares down 14%. The firm said the move was driven by technical factors, particularly high short interest, and investor buying ahead of Nasdaq rebalancing.
Spotify — Shares of the music streaming company fell 5.5% after Spotify announced it would increase the price of its premium subscription plans. The company is scheduled to report quarterly earnings before the bell on Tuesday.
Gilead Sciences — Shares of the biopharmaceutical company fell 4%.On Friday, the company said it will stop A late-stage trial of its blood cancer treatment. Gilead noted that it does not expect the treatment to generate revenue in 2023, and that related operating expense cuts in 2023 are immaterial.
Estee Lauder — The beauty company fell 1.4% after Piper Sandler downgraded the stock to neutral from overweight, citing expectations for a slower recovery in China, weakening market share and lower brand preference among teenage consumers.
— CNBC’s Hakyung Kim, Yun Li, Alex Harring and Samantha Subin contributed reporting
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