Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell on August 19, 2019 in New York City.
Drew Angerer | Getty Images
Check out the companies making headlines in midday trading:
— Shares of Roku jumped 7.4% after Macquarie Research upgraded Roku to outperform from neutral on Wednesday, while raising its 12-month price target to $130 from $110. The research firm said the streaming service has the potential to triple its user base in three years, growing internationally just like did.
Levi Strauss — Shares of denim maker Levi Strauss tanked more than 5% after reporting third-quarter earnings that struggled to grow its wholesale business in the Americas, its largest market. Despite this weakness, Levi beat Wall Street’s estimates for earnings per share and revenue.
Johnson & Johnson — Shares of Johnson & Johnson fell 2% after a Philadelphia court jury ruled the pharmaceutical company must pay $8 billion to a man who claims that the company failed to warn young men using its antipsychotic drug Risperdal that they could grow breasts.
U.S. Steel — Shares of U.S. Steel tanked more than 8% after CFO Kevin Bradley announced his resignation, effective Nov. 4. Bradley will remain with the company as an advisor to CEO David Burritt. Christine Breves, chief supply chain officer, will succeed Bradley as CFO.
Target — Shares of the big-box retailer rose more than 2%, hitting a new all-time high, following an announcement that it will partner with Toys R Us parent company TRU Kids to help relaunch the children store’s website. This follows a “strong buy” initiation from Raymond James, where the firm said the retailer is “well positioned” to take market share and grow earnings.
Peloton — Shares of the exercise equipment maker gained more than 2% after Baird initiated coverage on the stock with an outperform rating. The firm said that while it may “prove difficult” for the company to reach profitability in the next 5 years, there are still “untapped platform opportunities” within a “sizable potential market.”
FireEye — Shares of FireEye jumped 4.5% after the cybersecurity company issued strong revenue guidance for the third quarter. The company now expects revenues for the quarter to come in at, or above, the high end of a range between $217 million to $221 million.
Boot Barn — Shares of the retailer gained more than 3% after Stephens initiated coverage on the stock with an overweight rating and $46 target. The firm said the company is poised for “significant growth” and that it trades at a “discount to other high growth specialty retailers.”
— CNBC’s Maggie Fitzgerald and Pippa Stevens contributed to this report.
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