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Stocks making the biggest moves noon: Peloton, Oracle, Nikola, Domino’s & more

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Roberto Machado Noa

Take a look at the corporations making headlines noon Friday:

Peloton — The train tools maker’s inventory jumped 2.5% after the firm handily beat earnings expectations for the fourth quarter. The corporate earned 27 cents per share, in contrast with the 10 cents anticipated by analysts polled by Refinitiv. Gross sales surged 172% throughout the quarter as individuals stayed at house throughout the pandemic.

Oracle — Shares of the software program firm rose more than 1% after reporting adjusted quarterly revenue of 93 cents per share, 7 cents above estimates, in keeping with Refinitiv. Oracle’s income additionally beat Wall Road forecasts. The corporate’s better-than-expected outcomes had been helped by an elevated concentrate on cloud-based services as more
individuals work remotely.

Adobe — Adobe shares superior 0.4% after Cowen upgraded the firm to an outperform ranking due partially to an acceleration in demand because of Covid-19. The agency additionally lifted its worth goal to $555, which is roughly 15% above the place shares at the moment trade.

Nikola — Shares of the electrical truck maker dropped more than 16% after Nikola dismissed fraud claims made by brief vendor Hindenburg. CEO Trevor Milton, referred to as the allegations a “hit job.” Hindenburg, for its half, accused Milton of making false statements about the firm’s know-how.

Domino’s Pizza — Domino’s Pizza gained 2.3% after Cowen upgraded the pizza chain to outperform from market carry out. The Wall Road agency mentioned Domino is implementing a “long-term playbook” to assist “lengthen the model’s success.” The ways Domino’s used embrace menu and technological innovation, expanded worth choices and more promoting spending, Cowen famous.

Etsy — The web market rose almost 3% following an improve to purchase from impartial at BTIG. The Wall Road agency mentioned Etsy has “engaging upside” for one among “e-commerce’s quickest rising and finest run corporations.”

Expedia — Shares of Expedia fell more than 2% after an analyst at UBS downgraded the journey bookings firm to impartial from purchase. The analyst mentioned the “danger/reward” outlook for Expedia is “as compelling at present inventory worth ranges because it was in the March to Could timeframe.”

Atara Biotherapeutics — Atara shares popped more than 4% on the again of constructive knowledge from an ongoing Part 1 research of a drug aimed toward treating progressive types of a number of sclerosis. The corporate mentioned the drug was “nicely tolerated” all trial-participant cohorts, including that those that “achieved sustained incapacity enhancements at any timepoint maintained it in any respect future timepoints.”

Sage Therapeutics — Shares of Sage Therapeutics jumped 4.4% after Wedbush upgraded the biotech agency to outperform from impartial. The Wall Road agency is bullish on Sage’s new drug zuranolone, which treats depressive issues. Wedbush mentioned it sees causes for optimism on the drug’s publicity.

Rio Tinto — U.S.-listed shares of the metals miner climbed 5% after the firm mentioned CEO Jean-Sébastien Jacques stepped down from his put up together with different executives. Rio Tinto had been underneath fireplace after a blast destroyed traditionally vital Aboriginal rock shelters in Australia.

—CNBC’s Pippa Stevens, Yun Li and Maggie Fitzgerald contributed to this report.

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