Street performers in Minnie Mouse costumes walk past an AMC movie theater in New York’s Times Square at night on October 15, 2020.
Amir Hamja | Bloomberg | Getty Images
Check out the companies that are making headlines in midday trading.
AMC Entertainment – Shares in the beleaguered cinema chain fell more than 4% after the company announced it would sell up to 50 million of its Class A shares in a “shelf offer”.
Levi Strauss – The denim retailer gained more than 1% after Guggenheim raised its price target for the company from $ 20 to $ 24. The new forecast is 21% above the stock, which closed on Tuesday. “We are encouraged by the company’s aggressive strategy, strong brand, experienced management team and healthy financial position. We believe that a disruption of COVID-19 can result in LEVI in a more competitive position,” the company said in a statement the customer .
Tesla – The electric vehicle maker’s shares rose more than 1% as the stock continued to rebound from recent selling pressures. Last week, the stock fell 4.8% after the company entered the S&P 500. So far this week, Tesla has gained about 2.4%.
2U Inc – The education software company’s share price rose more than 6% after Needham named it a top pick for 2021. The Wall Street company said 2U was a belated beneficiary of the move to online education. The stock has gained 76% this year.
Dynatrace shares rose more than 3% after BTIG launched coverage of the software company with a buy rating. BTIG sees growth in the Application Performance Management market in 2021 as more companies invest in digital transformation. The company’s target price of $ 56 suggests a 30% rally over the next 12 months.
AstraZeneca – Pharmaceutical inventory grew around 1% after the UK approved the Covid-19 vaccine developed by AstraZeneca and Oxford University.
Emergent BioSolutions – The life science company’s shares rose 2.7% after Emergent and Mount Sinai Health Systems announced the initiation of a new clinical program investigating a possible preventive treatment for Covid-19. The research program is funded by the Ministry of Defense.
– – CNBC’s Pippa Stevens, Fred Imbert and Jesse Pound contributed to the coverage.
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