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Zoom Video Communications Inc. founder and CEO Eric Yuan at the company’s IPO on Nasdaq MarketSite in New York on April 18, 2019.
Victor J. Blue | Bloomberg | fake images
Check out the companies that are in the headlines for midday trades.
Zoom Video – Shares fell nearly 14% as investors took in signs that the explosive growth of the video conferencing company this year may be slowing. Zoom’s revenue grew 367% on an annualized basis during its fiscal third quarter, compared to a growth rate of 355% in the prior quarter and 169% two quarters ago. The company reported earnings and quarterly guidance that beat analyst expectations. The stock has risen more than 500% this year amid a pandemic boom.
Tesla: The EV company rose more than 2% after the S&P Dow Jones Indices offered an update on how the company will be added to the S&P 500. After seeking advice from the investment community, the index provider said Tesla will be will add to the benchmark. all at once, before the opening bell on December 21.
Kohl’s: Retail shares rose more than 13% after Kohl’s and Sephora announced that the beauty company will open more than 800 mini-stores within Kohl’s stores by 2023. The move comes after rival retailer Target announced a similar partnership with Ulta Beauty last month. .
Nikola – Shares in the beleaguered electric vehicle company fell more than 16%, accumulating a 27% drop from Monday, following an update to Nikola’s deal with GM. The two companies announced a modified, smaller deal on Monday. GM will no longer take an equity stake in Nikola, nor will it build the startup’s Badger vehicle. Nikola said he will refund deposits from previously shipped orders for the Badger.
Nio: The Chinese electric vehicle company fell 7% after Nio reported its latest delivery figures. Nio said it delivered 5,921 vehicles in November, a monthly record for the company. The number is an increase of 109% compared to the same period last year, and an increase of more than 800 vehicles compared to October. The company also said it is accelerating the expansion of its production capacity to keep up with demand.
Charles Schwab: e-broker shares rose more than 3% after Wells Fargo raised the shares to overweight from the same weight. The Wall Street firm called Schwab an “excellent” play on the subject of the “revival” of the coronavirus.
TripAdvisor: Travel bag rallied more than 5% after Bernstein started the action with a higher rating. While business has slowed, the Wall Street firm sees opportunities for TripAdvisor to grow again.
FedEx – Shares of the shipping company rose nearly 2% after Barclays raised the stock to overweight from the same peso. The firm said it sees “growth opportunities” for FedEx amid an acceleration in e-commerce.
Modern: Stocks rose another 7% after a 20% gain in the previous session. The rally came after the drugmaker said Monday that it will request emergency authorization from the Food and Drug Administration for its coronavirus vaccine with new data confirming that it is more than 94% effective in preventing Covid-19. The stock also rose after Argus raised its price target on Moderna to $ 200 per share from $ 88 per share, the highest on Wall Street.
Pfizer – The drugmaker rose almost 4% after announcing it, and its German partner BioNTech has applied to the European Medicines Agency for conditional marketing authorization for its coronavirus vaccine.
Exxon Mobil: Shares rose more than 2% after the energy giant announced a more streamlined capex plan. The company also said it was going to write off up to $ 20 billion in assets.
– with reports from CNBC’s Jesse Pound, Yun Li and Pippa Stevens.
