Screens outside the Nasdaq MarketSite are pictured as dating app operator Bumble Inc. (BMBL) debuted on the Nasdaq stock exchange during the company’s New York IPO, New York, United States, February 11, 2021.
Mike Segar | Reuters
Check out the companies making headlines in midday trading on Monday.
Boeing – The planemaker’s shares rose more than 7% after CNBC reported that the Federal Aviation Administration had approved inspection protocol revisions that should allow the planemaker to resume deliveries of its 787 Dreamliner . Separately, Boeing defense workers will vote Wednesday on a new draft labor agreement aimed at avoiding a strike.
Target — Retail inventory increased by more than 2% after Wells Fargo upgraded Target to overweight at equal weight. The company said investors were too low on the stock, which it sees as a “proven stock gain”.
Perkin Elmer – PerkinElmer shares jumped more than 6% after the diagnostics and life sciences company reported better-than-expected second-quarter sales and earnings. It also announced plans to divest some of its non-core units to private equity firm New Mountain Capital for $2.45 billion in cash.
Advanced micro-systems – Several semiconductor stocks surged, with Advanced Micro Devices gaining 2.5%. Shares of Micron Technology, Nvidia and Intel all rose about 2%.
Global Payments — Shares of the fintech company rose 7.5% after a better-than-expected quarterly report. Global Payments reported adjusted earnings per share of $2.36 on revenue of $2.28 billion. Analysts polled by Refinitiv had forecast $2.34 in earnings per share on $2.07 billion in revenue. Global Payments also announced an agreement to buy EVO Payments for $34 per share.
Colgate-Palmolive — The consumer products company gained more than 2% following a Equal Weight Wells Fargo Upgrade underweight. The company said Colgate-Palmolive’s results may show signs of improvement going forward.
Check Point Software Technologies – Shares fell 4% after the cybersecurity company reported disappointing billing revenue. Billings totaled $570.6 million, below a StreetAccount estimate of $578.3 million. That overshadowed better-than-expected earnings and revenue for the prior quarter.
Jacobs Engineering Group — Shares fell 5.5% after the international technical professional services company announced its results in the second calendar quarter. Jacobs lowered its guidance for fiscal year 2022, citing foreign currency translation adjustments, although they otherwise exceeded his report’s expectations.
– CNBC’s Yun Li, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting