The website of fantasy sports DraftKings
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Here are the stocks that make headlines in midday trading:
Tesla – Shares of the electric car company rose more than 1% after two companies upgraded the stock. Morgan Stanley lifted its rating to equal weight underweight on Thursday night, while Bank of America upgraded the stock market to neutral from underperform on Friday. Shares of Tesla are up nearly 300% this year.
Macy’s, Kohl’s, Nordstrom — The three shares all stood at least 4.4% in midday trading after the latest government data showed a 1.2% increase in U.S. retail sales in July. Macy’s (up 7.6%), Kohl’s (up 4.7%) and Nordstrom (up 4.4%) are at too great a risk during the coronavirus pandemic, as concerns and concerns about infection shoppers removing bricks and murden.
DraftKings – Shares of the online gambling company fell 6% in midday trading after DraftKings said its second-quarter loss grew despite strong revenue and a turnaround in user participation. The Boston-based gambling company posted a second-quarter loss of $ 161.4 million, or 55 cents a share. The figures of less than expected income from the company came when Covid-19 passed scores of professional and college sports classes.
Simon Property Group – Shares of Simon Property rose more than 3% after the mall operator and Authentic Brands agreed to buy denim seller Lucky Brand for $ 140.1 million. The deal would take Lucky Brand out of bankruptcy. Simon and Authentic Brands said they will negotiate with landlords to keep Lucky’s “important stores” in North America open.
Applied Materials – Shares of the semiconductor company rose more than 4% after its third-quarter analysts estimated top and bottom line. The company also provided an upbeat forecast for the current quarter.
Dillard’s – Shares of the department store jumped more than 11% after the company reported a smaller-than-expected loss for its fiscal second quarter. Dillard’s reported a loss of 37 cents per share for the quarter, while analysts surveyed by FactSet expected a loss of $ 5.01 per share. Compared to the same quarter in 2019, the company increased its retail gross margin by 2.4 percentage points and reduced its inventory by 20%.
– CNBC’s Fred Imbert, Pippa Stevens, and Jesse Pound contributed reporting.
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