A woman walks past the GameStop store inside the Susquehanna Valley Mall. An online group sent share prices of GameStop (GME) and AMC Entertainment Holdings Inc. (AMC) soaring in an attempt to squeeze short sellers.
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Check out the companies making headlines in midday trading.
Costco – The retailer’s share price rose less than 1% after the company said same-store sales jumped 16% during March. Costco said that online sales rose 57.7% year over year, while net sales for the retail month of March came in at $18.21 billion, up from $15.49 billion in the same period a year ago.
Constellation Brands – Shares of the spirits maker slid 4% despite Constellation Brands beating top and bottom line estimates during the fourth quarter. The company earned $1.95 per share on $1.95 billion in revenue. Analysts surveyed by Refinitiv expected the company to earn $1.55 per share on $1.87 billion in revenue.
Box —Shares of the cloud company tanked more than 8% after announcing a new $500 million strategic investment in convertible preferred stock from KKR, which will mainly be used for a Dutch auction stock repurchase following fiscal first quarter of 2022 earnings.
F5 Networks — Shares of the application and delivery network company slipped 0.01% after Credit Suisse downgraded F5 Networks to neutral from outperform. The Wall Street firm said after F5 Network’s 20% climb this year, it not longer warranted a buy rating at its current valuation.
GameStop — The video game retailer’s share price dipped about 0.2% after the company announced that Chewy co-founder Ryan Cohen would take on the chairman role. Cohen currently serves on the board of directors and has pushed to change GameStop’s focus to e-commerce.
WW International – Shares of the weight management service company dropped about 5% after Morgan Stanley downgraded the stock to equal weight from overweight. The Wall Street firm cited the stock’s big run-up over the past 12 months that pushed the price within about 5% of its price target.
Bilibili – Shares of the video streaming company rose more than 2% after Bilibili denied a Reuters report that it’s in talks to buy a 24% stake in Yoozoo Games. Reuters previously reported that Bilibili would buy Yoozoo Games’ stake as well as its headquarters for about $765 million.
– CNBC’s Maggie Fitzgerald, Pippa Stevens and Jesse Pound contributed reporting.
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