Screens outside the Nasdaq MarketSite are pictured as dating app operator Bumble Inc. (BMBL) debuted on the Nasdaq stock exchange during the company’s New York IPO, New York, United States, February 11, 2021.
Mike Segar | Reuters
Check out the companies making headlines in midday trading on Monday.
Boeing – The planemaker’s shares rose more than 7% after CNBC reported that the Federal Aviation Administration had approved inspection protocol revisions that should allow the planemaker to resume deliveries of its 787. Dreamliner. Separately, Boeing defense workers will vote Wednesday on a proposed new labor agreement aimed at avoiding a strike.
Target – Retail stock rose more than 2% after Wells Fargo upgraded Target to overweight from equal weight. The company said investors were too low on the stock, which it sees as a “proven stock gain”.
PerkinElmer – Shares of PerkinElmer jumped more than 6% after the diagnostics and life sciences company reported better-than-expected second-quarter sales and earnings. It also announced plans to divest some of its non-core units to private equity firm New Mountain Capital for $2.45 billion in cash.
Advanced Micro Devices – Several semiconductor stocks surged, with Advanced Micro Devices gaining 2.5%. Shares of Micron Technology, Nvidia and Intel all rose about 2%.
Global Payments – Shares of the fintech company rose 7.5% after a better-than-expected quarterly report. Global Payments reported adjusted earnings per share of $2.36 on revenue of $2.28 billion. Analysts polled by Refinitiv had forecast $2.34 in earnings per share on $2.07 billion in revenue. Global Payments also announced an agreement to buy EVO Payments for $34 per share.
Colgate-Palmolive – The consumer products company gained more than 2% following an upgrade from Wells Fargo to equal underweight. The company said Colgate-Palmolive’s results may show signs of improvement going forward.
Nio – Shares rose more than 2% after the Chinese electric vehicle company and rival Li Auto all reported higher car deliveries in July. Li Auto jumped 3%.
Check Point Software Technologies – Shares fell 4% after the cybersecurity company reported disappointing billing revenue. Billings totaled $570.6 million, below a StreetAccount estimate of $578.3 million. That overshadowed better-than-expected earnings and revenue for the prior quarter.
Bumble – The dating app company’s stock fell 5.1% following a downgrade from Jefferies to suspension, citing a drop in the number of paying subscribers going forward.
Jacobs Engineering Group – Shares fell 5.5% after the international technical professional services company announced its second calendar quarter results. Jacobs lowered his forecast for fiscal year 2022, citing currency translation adjustments, though he otherwise exceeded his report’s expectations.
– CNBC’s Yun Li, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting