Stocks making the biggest moves midday: Chipotle, PG&E, Marathon Oil and CarMax

A person wearing a protective mask enters a Chipotle restaurant in San Francisco, California, U.S., on Monday, April 19, 2021.
David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

CarMax — CarMax shares dipped more than 8% after reporting a beat on revenue but a miss on earnings for the latest quarter. The auto retailer earned 98 cents per share, below the $1.25 per share consensus estimate.

CrowdStrike — Shares of the cybersecurity company jumped 3.7% after Goldman Sachs upgraded the stock to a “buy” from “neutral.” The firm said the strength of CrowdStrike’s business has been overlooked recently and that it’s “well positioned in the sweet spot of demand.”

PG&E — Shares of the utility company rose 3% after it reached settlements to pay $55 million for two fires in Northern California. As part of the agreement, PG&E will not face any criminal prosecution.

Cisco Systems —  Shares of the network technology company fell about 1%, lagging behind the broader market, after Citi downgraded Cisco to sell from neutral. A Citi analyst said in a note to clients that Cisco was losing market share to its rivals.

Hewlett Packard Enterprise — Shares of Hewlett Packard Enterprise dipped 1% after Morgan Stanley downgraded the stock to underweight from equal weight and said it expects the stock to underperform over the next year.

Chegg — Shares of Chegg dropped 5.5% following a downgrade by KeyBanc Capital Markets. Analysts downgraded Chegg to sector weight from overweight, saying the company reported lower growth in the U.S. in its first quarter.

Chipotle — Shares of the restaurant chain rose 3.1% after Citi initiated coverage of the stock with a buy rating. The firm said Chipotle is a “best-in-class growth leader.” 

Albertsons — The food retailer’s stock sank 6.7% after reporting earnings for the recent quarter. Albertsons beat on revenue and reported earnings of 75 cents per share, 11 cents above consensus estimates.

Oil stocks — Energy stocks rose on Tuesday as oil prices, which have seesawed in recent weeks, jumped back above $100 a barrel. Marathon Oil, Devon Energy and Occidental Petroleum jumped 5.5%, 4.7% and 3.7%, respectively.

— CNBC’s Jesse Pound, Hannah Miao, Tanaya Macheel and Sarah Min contributed reporting

Products You May Like

Articles You May Like

FA 100: CNBC ranks the top-rated financial advisory firms of 2022
Billionaire Melinda French Gates wants to create an alternative to Silicon Valley: ‘To change it would be incredibly hard’
Denver’s most expensive home lists for $28.9 million and features a stunning charred wood treatment
Peloton slashing 500 more jobs as it races to return to growth
Disney reaches deal with activist investor Third Point, will add former Meta executive to its board