Stocks making the biggest moves midday: Tesla, Restaurant Brands, LendingTree & more

Stock Market

Workers assemble cars on the line at Tesla’s factory in Fremont.

David Butow | Corbis News | Getty Images

Check out the companies making headlines in midday trading.

Goodyear Tire — The tire company’s stock gained more than 2% after Nomura initiated coverage with a buy rating and $20 target. The firm is optimistic about Goodyear’s earnings potential following its ongoing restructuring.

Restaurant Brands International — Shares of Restaurant Brands International dipped more than 1% after announcing Tim Hortons unit president Alex Macedo would leave the company. Macedo is leaving the post in March after two years. The fast food restaurant company suffered weak performance in its Tim Hortons business this year.

Rite Aid Corp. — The pharmacy company’s shares slid more than 16%. The selling follows two exceptionally strong weeks for the stock, which saw gains of 85% and 45%, spurred by the company’s better-than-expected third quarter earnings on Dec.19.

Avis Budget Group — Shares of the car rental group rose more than 1% after the company announced that Joe Ferraro will become interim CEO on Jan. 1. Current CEO Larry De Shon previously announced that he would depart at the end of the year.

CenturyLink — Shares of the technology company shed 1% following an announcement that Chairman Harvey Perry will retire in May. The company also announced changes to its corporate governance guidelines, including limiting board tenure to 10 years.

Tesla — Tesla shares slid more than 3.6% in early trading Monday after analysts at Cowen warned that the automaker would miss its guidance for deliveries. Cowen, which has an underperform rating on the stock, said Tesla will deliver between 95,000 and 101,000 vehicles during the current quarter, bringing the total for the year to around 356,000. The electric carmaker issued guidance of between 360,000 and 400,000 deliveries for the year.

LendingTree — Shares of LendingTree rose more than 2% after the online loan marketplace company received an upgrade from an analyst. Compass Point raised its rating of LendingTree to buy from neutral, according to FactSet. Compass Point reiterated its price target of $340 per share, which is more than 15% higher than where the stock closed on Friday.

— CNBC’s Yun Li and Jesse Pound contributed reporting.

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