A person wearing a protective mask enters a Chipotle restaurant in San Francisco, California, US, on Monday, April 19, 2021.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines in midday trading.
CarMax – CarMax shares dipped more than 8% after reporting a beat on revenue but a miss on earnings for the latest quarter. The auto retailer earned 98 cents per share, below the $ 1.25 per share consensus estimate.
CrowdStrike – Shares of the cybersecurity company jumped 3.7% after Goldman Sachs upgraded the stock to a “buy” from “neutral.” The firm said the strength of CrowdStrike’s business has been overlooked recently and that it’s well positioned in the sweet spot of demand. “
PG&E – Shares of the utility company rose 3% after it reached settlements to pay $ 55 million for two fires in Northern California. As part of the agreement, PG&E will not face any criminal prosecution.
Cisco Systems – Shares of the network technology company fell about 1%, lagging behind the broader market, after Citi downgraded Cisco to sell from neutral. A Citi analyst said in a note to clients that Cisco was losing market share to its rivals.
Hewlett Packard Enterprise – Shares of Hewlett Packard Enterprise dipped 1% after Morgan Stanley downgraded the stock to underweight from equal weight and said it expects the stock to underperform over the next year.
Chegg – Shares of Chegg dropped 5.5% following a downgrade by KeyBanc Capital Markets. Analysts downgraded Chegg to sector weight from overweight, saying the company reported lower growth in the US in its first quarter.
Chipotle – Shares of the restaurant chain rose 3.1% after Citi initiated coverage of the stock with a buy rating. The firm said Chipotle is a “best-in-class growth leader.”
Albertsons – The food retailer’s stock sank 6.7% after reporting earnings for the recent quarter. Albertsons beat on revenue and reported earnings of 75 cents per share, 11 cents above consensus estimates.
Oil stocks – Energy stocks rose on Tuesday as oil prices, which have seenawed in recent weeks, jumped back above $ 100 a barrel. Marathon Oil, Devon Energy and Occidental Petroleum jumped 5.5%, 4.7% and 3.7%, respectively.
– CNBC’s Jesse Pound, Hannah Miao, Tanaya Macheel and Sarah Min contributed reporting