Shares making the most important strikes noon: GameStop, Chevron, Mondelez & extra
Daniel Acker | Bloomberg | Getty Images
These stocks are making some of the largest moves in midday trading:
Mondelez International — Mondelez, which owns snack brands including Oreo and Ritz, dipped 2% despite reporting better-than-expected earnings. Modelez earned 67 cents per share, topping estimates by one cent, according to Refinitiv. Revenue came in at $7.30 billion, higher than expectations of $7.16 billion.
Chevron — Shares of the oil giant slid more than 3% after it missed analyst expectations on the top and bottom line during the fourth quarter. Excluding items, the company reported a loss of one cent per share, which was below the expected 7-cent per share profit, according to analysts surveyed by Refinitiv. Revenue came in at $25.25 billion, also short of the expected $26.2 billion.
GameStop, AMC Entertainment, Koss— Stocks targeted by a legion of retail investors this week continued their fevered rise on Friday with names like video game retailer GameStop and headphone maker Koss spiking on the week’s final day of trading. By around 11:38 a.m. ET, GameStop had added 62%, AMC had climbed 61% and the value of Koss shares had doubled.
Johnson & Johnson — Shares of the drugmaker slid 3.9% after phase three trial data showed that the company’s Covid-19 vaccine was 72% effective in the U.S. but less effective in other regions, including South Africa. Mutations in the virus, including one found in South Africa, have raised concerns about vaccines being unable to stop different strains of Covid.
Novavax — Shares of Novavax spiked more than 65% in midday trading after the biotech company said Thursday that its Covid-19 vaccine candidate had 89.3% efficacy in a U.K. trial. If the stock ended the day up at its current price, it would be Novavax’s highest close since August 2015.
Skyworks Solutions — Skyworks shares climbed 8.3% after it reported on Thursday profit results and a forecast that surpassed analysts’ expectations. The semiconductor-component company posted first-quarter net income of $509.3 million compared with $257.1 million one year ago. Skyworks also announced a stock buyback program.