Occidental Petroleum — Shares of the vitality company gained 4% after Truist upgraded the inventory to a purchase order order score based mostly on an anticipated bounce in shareholder returns. The corporate furthermore raised its goal on the inventory from $35 to $50, with the mannequin new forecast implying a nearly 60% upside from Friday’s closing worth. APA and Diamondback Vitality, inside the meantime, superior 2.1% and 0.9%, respectively, on the as soon as extra of West Texas Intermediate crude futures, the U.S. oil benchmark, rising to its highest stage in seven years on Monday.
Zillow — The exact property inventory dropped 9.5% after Zillow launched that it wouldn’t signal any new contracts to purchase houses by the tip of the yr “on account of a backlog in renovations and operational performance constraints.” In a press launch, the corporate’s CEO cited labor and provide components as a motive for the backlog.
Walt Disney — Shares of the media huge ticked 3% decrease in noon purchasing for and selling after Barclays downgraded Disney to equal weight from obese. The Wall Freeway firm cited a slowdown in subscriber enchancment for Disney+, saying that the corporate’s long-term subscriber targets appeared optimistic.
Albertsons — Albertsons shares rose 3.3% after the grocery retailer chain’s quarterly earnings report beat Wall Freeway’s expectations. The corporate posted revenue of 64 cents per share on earnings of $16.51 billion, versus 45 cents per share on earnings of $15.86 billion anticipated, based totally on StreetAccount. Albertsons furthermore elevated its quarterly dividend by 20%.
Biogen — Shares of the drugmaker fell 4.1% in noon purchasing for and selling after asserting its late-stage trial of an experiment ALS therapy didn’t attain its predominant objective.
State Freeway — State Freeway shares added 2.2% after the monetary suppliers firm’s third-quarter earnings beat expectations. The corporate posted adjusted earnings of $2 per share versus $1.92 per share anticipated, based totally on StreetAccount. Income furthermore topped projections. State Freeway acknowledged it will resume its share buyback program contained in the second quarter of 2022.
Virgin Galactic — Shares of Virgin Galactic fell 1.5%, persevering with a slide from Friday, after UBS downgraded the inventory to promote from impartial. The downgraded adopted Virgin’s announcement final week that it was delaying its subsequent flight launch till 2022.
Philips — Shares of Philips fell 3.1% after the Dutch medical expertise company reported lower-than-expected quarterly earnings. Philips furthermore lowered its product gross sales and revenue outlook for the whole yr, citing persistent current chain challenges.
Stellantis — Shares of Stellantis retreated 2% after the automaker launched it will sort a 3 method partnership with battery marker LG Vitality Reply to provide battery cells and modules for North America. The batteries could be equipped to Stellantis vegetation contained in the U.S., Canada and Mexico.
Revance Therapeutics — Shares of Revance Therapeutics plunged 39.2% after the U.S. Meals and Drug Administration late final week declined to approve the biotechnology company’s frown line therapy. The therapy was seen as potential competitor to the Botox injection.
NetApp — Shares of NetApp fell 4.3% after Goldman downgraded the cloud computing inventory to a promote from impartial. Goldman furthermore reduce its worth goal on the inventory to $81 per share from $85.
CDW — CDW shares rose 4.8% after the expertise company launched it will purchase Sirius Pc Selections for $2.5 billion in money.
Medtronic — Shares of Medtronic fell 5.5% after the corporate geared up an alternate on a medical evaluation of its Symplicity Renal Denervation System to decrease blood stress. Medtronic acknowledged the evaluation’s unbiased security monitoring board didn’t advocate pausing the trial early.