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FedEx, Boeing, Domino’s and more


Visitors walk past a Boeing board during the Farnborough Airshow in Farnborough on July 18, 2022.

Justin Tallis | AFP | Getty Images

Find out which companies are making headlines in the midday business.

Boeing – The aerospace company fell 6% after reaching a $200 million settlement on charges of misleading investors following the involvement of two of its jetliners in fatal crashes.

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FedEx – Shares fell about 4% and hit a new 52-week low after the delivery company announced plans to raise rates to between 6.9% and 7.9%.

Costco – The wholesaler, which said it would not raise subscription prices this week, saw its shares fall 4%. Costco posted better-than-expected earnings and showed year-over-year gains, but also said it was facing higher labor and transportation costs.

CalAmp – The software company fell 17% despite an earlier rally. CalAmp reported smaller-than-expected losses in its second-quarter results, while also noting record revenue in the subscription and software categories.

Ally Financial – Shares of the financial services company fell 4% after Wells Fargo downgraded the stock to an equal weight to overweight. The Wall Street firm said it will be difficult for Ally to outperform as the price of used vehicles continues to fall and the consumer faces the headwind of inflation.

Qualcomm – Shares fell 3% despite JPMorgan reiterating that the stock was overweight due to the wireless company’s automotive opportunities.

fuboTV – Shares jumped 3.4% after Wedbush upgraded the streaming service to outperform from neutral, saying fuboTV is at the “compelling entry point” for investors.

Domino’s Pizza — Domino’s Pizza rose 2.1% after BMO upgraded the stock to outperform, forecasting a rebound for the fast-food chain on strong demand.

Coinbase – Shares of Coinbase fell 4% after JPMorgan lowered its price target and reiterated the action as neutral, citing concerns over low levels of activity in crypto selling. Although the cryptocurrency exchange has diversified its services and revenue streams, this business still accounts for the majority of its revenue, and trading activity tends to stagnate when prices are low. The crypto assets were sold off along with the rest of the risky assets on Friday.

Advanced Micro Devices – Shares hit a new 52-week low for the semiconductor company, down 3.2%. The drop comes despite Morgan Stanley reiterating the title amid what it sees as a correction from the ongoing wide-base semis.

Marathon – Shares of the oil titan fell 11%, defying a positive report from Evercore ISI which saw the company as having strong free cash flow.

– CNBC’s Yun Li, Tanaya Macheel and Sarah Min contributed reporting

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