Mike Cigar | Reuters
Check out which companies are making the headlines at midday Monday.
Boeing — Shares of the planemaker rose 6.1% after CNBC reported that the Federal Aviation Administration had approved inspection protocol revisions that would allow the planemaker to resume deliveries of its 787 Dreamliners. Separately, Boeing defense workers will vote on a proposed new labor agreement on Wednesday, with the goal of avoiding a strike.
Target — Retail stock is up 1.3% after Wells Fargo upgraded Target to an overweight of the same weight. The company said investors are showing a sharp fall in stocks, which it considers a “proven gainer in stocks”.
PerkinElmer — PerkinElmer shares jumped 5% after the diagnostics and life sciences company reported better-than-expected sales and earnings for the second quarter. It also announced plans to sell some of its non-core units to private equity firm New Mountain Capital for $2.45 billion in cash.
Advanced Micro Devices – Shares of many semiconductors rose, with prices for advanced micro devices up 2.5%. Micron Technology shares are up 1.1%, Nvidia shares are up 1.5%, and Intel shares are up 1.8%.
Global Payments – Shares of the fintech company rose 4.6% after a better-than-expected quarterly report. Global Payments reported $2.36 in adjusted earnings per share on $2.28 billion in revenue. Analysts polled by Refinitiv had set $2.34 in earnings per share on $2.07 billion in revenue. Global Payments also announced a deal to purchase EVO Payments for $34 per share.
Colgate-Palmolive – The consumer products company gained 3% after upgrading Wells Fargo to equal weight from underweight. The company said that Colgate-Palmolive’s earnings may show signs of improvement going forward.
Nio – Shares advanced 2.3% after Chinese electric car maker and rival Li Auto reported an increase in vehicle deliveries in July. Li Auto stock jumped 3.8%.
Check Point Software Technologies – Shares fell 4.5% after the cybersecurity firm reported disappointing billing returns. Billings came in at $570.6 million, below StreetAccount’s estimate of $578.3 million. This overshadowed the previous quarter’s better-than-expected earnings and revenue.
Bumble — The dating app company’s stock fell 5.2% on Jefferies’ rating downgrade to hold, indicating a drop in subscribers’ push forward.
Jacobs Engineering Group – Shares fell 5.7% after the international specialist technical services firm announced its second-quarter earnings report. Jacobs lowered guidance for fiscal year 2022, citing foreign currency translation adjustments, despite exceeding expectations in its report.
CNBC’s Yoon Lee, Tanaya Machel, Jesse Pound, and Samantha Soobin contributed reporting.