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Stocks making the biggest moves midday: Netflix, Alibaba, Ford, Penn National Gaming & more

The Netflix logo is shown in this illustration photograph in Encinitas, California.

Mike Blake | Reuters

Check out the companies making headlines in midday trading. 

Netflix — Shares of the streaming giant popped 14% after the company’s fourth quarter report beat Wall Street expectations for revenue and subscribers, which topped 200 million. Netflix also said it would consider stock buybacks and it expects to break even on a cash flow basis this year. Netflix earned upgrades from Wells Fargo and UBS, boosting sentiment further.

Penn National Gaming — Credit Suisse initiated coverage on the sports-betting company with an outperforming rating, sending shares up 5%. The Wall Street firm said the company has the potential to claim leadership in online betting, and that it sees upside to targeted cost savings and better-than-expected margins.

Ford Motor — Shares of the automaker jumped 4.6% after Deutsche Bank added a catalyst call or a short-term buy idea on the stock. The bank said it’s bullish on the company’s upcoming earnings report in early February among other things. The firm kept its long-term hold rating on Ford.

DraftKings — Shares of the sports-betting company jumped 3.5% after Morgan Stanley upgraded the stock to overweight from equal weight. The Wall Street firm expects DraftKings to report quarterly revenue that’s 10% ahead of consensus and called the company a pure play in the gambling industry. The company will report results on Feb 25.

Alibaba – Shares of the e-commerce giant advanced more than 5% after founder Jack Ma made his first public appearance in several months. CNBC previously reported that Ma was laying low after making some comments that appeared critical of China’s financial regulators back in October.

Beyond Meat – Shares of the alternative meat maker slid more than 3% after BTIG cut the stock to a neutral rating. “We believe growth through the retail channel will not be enough to sustain the growth rate and hefty trading multiple in 2021,” the firm said in a note to clients. Shares of Beyond Meat are up 24% over the last year.

Bank of New York Mellon — The bank stock fell nearly 7% despite better than expected results on the top and bottom lines for the fourth quarter. Bank of New York Mellon reported adjusted earnings per share of $0.96 on $3.84 billion of revenue. Analysts had expected 91 cents per share on revenue of $3.83 billion, according to Refinitiv. A shrinking net interest margin was a negative in the report, investment firm Piper Sandler said in a note to clients.

U.S. Bancorp – Shares of the regional bank fell more than 4% following a revenue miss. Revenue came in at $5.75 billion, missing Refinitiv estimates of $5.82 billion. Earnings came in in line with estimates at 95 cents per share.

Fastenal — Shares of the industrial supply company dropped 3.4% despite a better-than-expected fourth-quarter report from Fastenal. The company reported 34 cents in earnings per share and $1.36 billion in revenue, just above estimates on both counts, according to Refinitiv.

— CNBC’s Maggie Fitzgerald, Pippa Stevens and Jesse Pound contributed reporting.

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