Stocks that make the biggest moves at noon: Peloton, GameStop, Harley-Davidson, and more
A monitor displays the signage of Peloton Interactive Inc. during the company’s IPO across the Nasdaq MarketSite in New York, United States on Thursday, September 26, 2019.
Michael Nagle | Bloomberg | Getty Images
Check out the companies that are making headlines in midday trading.
Peloton – The fitness company’s shares fell more than 9% after the U.S. Consumer Product Safety Commission issued a warning that Peloton’s Tread + product is dangerous to be used with children or pets. Peloton said it would not recall the product as a lawmaker told the company to do.
GameStop – The video game retailer grew more than 8% after the company announced that CEO George Sherman will be stepping down by July 31 to transform itself into an e-commerce company. The board is conducting a search to identify CEO candidates who can accelerate the next phase of the company’s transformation. Some investors were also encouraged that Keith Gill doubled his GameStop bet and waived a quick million dollar win from an options trade.
Coca-Cola – Beverage inventories rose 0.6% after Coca-Cola beat Wall Street estimates in its first quarter report. The company reported adjusted earnings of 55 cents per share, 5 cents above expectations, according to Refinitiv. Sales were also higher than expected. The company announced that its global demand returned to pre-pandemic levels in March.
Harley-Davidson – The motorcycle maker’s shares rose more than 13% after the company topped bottom line estimates in the first quarter. The company earned $ 1.68 per share for the period, compared to the refinitiv polled analysts of 88 cents per share. Revenue was $ 1.23 billion, just below the expected $ 1.25 billion. Harley-Davidson also raised his outlook.
Herman Miller – Shares in the office furniture maker fell 11% after it announced it would buy furniture and accessories company Knoll for $ 1.8 billion in cash and shares. Knoll’s shares fell more than 33% on Monday.
Qualcomm – The chipmaker’s shares fell 2% after the company was downgraded from positive to neutral by Susquehanna. The company pointed to short-term advantages that lead to long-term headwinds, license and license fee battles, and competition as potential disadvantages for the company. The company also cut its price target on the stock from $ 175 to $ 155. The new price forecast is 12% above the share that closed on Friday.
Tesla – The electric car manufacturer’s shares fell more than 3% when Texas police officers investigated the fatal accident involving a Tesla vehicle. Based on a preliminary investigation, the police informed KPRC 2 that no one was behind the wheel.
First Solar – Clean energy stocks fell about 0.2% even after Citi switched the company to buying neutral on Monday. The Wall Street company believes the company is well positioned to benefit from the White House’s green energy push. Citi also raised its price target on First Solar from $ 88 to $ 100 per share.
Tribune Publishing – Tribune Publishing’s shares fell more than 5% after the Wall Street Journal reported that Swiss billionaire Hansjorg Wyss left an offer on Tribune. Stewart Bainum, chairman of Choice Hotels, is looking for a new partner for his newspaper publisher offering when he tries to outbid the hedge fund Alden Capital for Tribune.
Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign in to start a free trial today
– with reports from Jesse Pound, Pippa Stevens and Yun Li from CNBC.