Stocks making the biggest moves midday: Abercrombie & Fitch, Disney, Best Buy, Zoom and more
Check out the companies making headlines in midday trading.
Disneyreiterated the stock as buy and said it doesn’t see any meaningful changes coming to its direct-to-consumer strategy.
Zoom Videofirm issued weaker-than-expected revenue guidance for its full fiscal year. Zoom’s quarterly earnings topped estimates, while revenue met expectations.
Best Buybeat Wall Street’s estimates and maintained its outlook for the holiday period. Demand remains below its pandemic heights, but Best Buy indicated its faring well even as inflation weighs on consumers’ pockets.
Walgreens Boots Allianceupgrade to outperform from market perform by Cowen. The firm said the market is putting too much attention on Walgreens’ retail business, saying the stock could rally more than 30% as the company transforms its health-care services business.
Toll BrothersJPMorgan upgraded the stock to overweight, saying that the homebuilding stock trades at a discount to its peers.
ObsEvaits rights to ebopiprant, a potential treatment for preterm labor, to XOMA. The company got $15 million up front with potential future milestone payments that could bring an additional $98 million.
AgroFresh Solutionsit was going to merge with Paine Schwartz Partners. All of AgroFresh’s outstanding stock will be obtained for $3 per share, which is 7.5% higher than where it closed Monday.
— CNBC’s Samantha Subin, Yun Li, Tanaya Macheel and Michelle Fox contributed reporting.