The Carnival Cruise Ship ‘Carnival Vista’ heads out to sea at the entrance to the Port of Miami known as the Government Cut in Miami, Florida on June 2, 2018.
RHONA SAGE | AFP | Getty Images
Find out which companies are making the midday headlines.
Carnival – Carnival shares rose 4% after the cruise line said third-quarter travel was positive in terms of cash flow and expects that to continue. Shares of Norwegian Cruise Line rose 3.2% and Royal Caribbean rose 3%.
Match Group – Match Group shares rose 3.6% after the online dating platform announced Thursday that it would sell shares of its common stock in a registered direct offer. The price per share and the number of common shares issued will be calculated by a volume-weighted average price over an average period of five days from Friday, the company said.
Merck – Shares of the pharmaceutical giant rose 1.2% on Friday after Merck and AstraZeneca announced that treatment using the drug Lynparza gave positive results in a phase three trial. The results of the trial suggest that the treatment slows the progression of prostate cancer and shows a tendency for increased survival, the companies said.
Nike – Apparel inventory fell more than 6% after Nike cut its sales growth forecast for the entire year. The company said supply chain issues in Vietnam are slowing sales. Nike is now forecasting mid single-digit revenue growth for its 2022 fiscal year, down from earlier forecasts of weak double-digit growth.
Costco – The retailer’s shares jumped more than 2% after Costco’s fourth quarter results. The company beat earnings estimates in the quarter, earning $ 3.90 per share excluding items on revenue of $ 62.68 billion. Analysts polled by Refinitiv expected $ 3.57 per share on $ 61.3 billion in revenue.
Salesforce – Salesforce extended Thursday’s earnings, up 2.2% after Piper Sandler put the stock overweight to neutral, saying she is confident the company could experience “a multi-year period of expansion in sales. multiples and benefits “. The stock jumped Thursday after the software company raised its revenue forecast for the year 2022.
Coinbase – Shares of the cryptocurrency exchange fell around 1.6% even after Needham repeated the action as a buy. Cryptocurrencies plunged on Friday morning on news that China is launching a new crackdown on crypto. Coinbase derives 90% of its revenue from retail transactions, which is highly correlated with the prices of crypto assets, according to Needham, so its stock price tends to move in tandem with cryptocurrencies.
Cheesecake Factory, Dave & Buster’s – Cheesecake Factory and Dave & Buster’s added 4.4% and 5.2%, respectively, after Jefferies upgraded restaurant stocks to buy on hold. “We are increasingly positive on the full service category following the drop in delta / inflation and exuberant consensus forecasts,” said Jefferies.
Roku – Roku shares fell 3.8% after Wells Fargo downgraded the video streaming platform to equal weight with overweight. Wells Fargo said growing competition makes Roku’s revenue growth expectations likely too high.
– CNBC’s Jesse Pound, Pippa Stevens and Tanaya Macheel contributed reporting
Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews, and access to CNBC TV.
Register to start a free trial today