Want to know which stocks are causing a stir right now? Check out these exciting companies that are making headlines:
The popular music streaming service saw a 1.3% increase in its shares after Guggenheim reaffirmed its recommendation to buy the stock. Guggenheim mentioned that Spotify continues to experience strong usage trends, which can fuel a promising growth phase for the company.
The shares of Zoom Video Communications, a popular video conferencing company, fell by more than 7% following their first-quarter report. Although they surpassed Wall Street's expectations for earnings and revenue, their forecast for the current quarter was in line with expectations.
AutoZone, the car retailer, experienced a more than 5% decrease in its shares after not meeting revenue expectations for the third quarter. They earned $4.09 billion, which was slightly less than what analysts predicted. However, their earnings per share of $34.12 exceeded expectations. Their inventory increased by 7.4% compared to last year.
Lowe's, the home improvement store, saw a 2.8% increase in its shares due to better-than-expected earnings in the first quarter. However, the company lowered its outlook for the full year.
Chevron, an energy producer based in California, had a 3.1% increase in midday trading. This rise came after HSBC upgraded Chevron's rating and predicted a potential increase in oil prices.
Broadcom's shares increased by about 2% after Apple announced a significant chip deal with them. Apple's plan to invest billions in the U.S. economy contributed to this partnership.
Shares of BJ's Wholesale dropped by 6.4% as the company's quarterly revenue was slightly lower than what analysts estimated. The sales of comparable clubs, excluding gasoline, also fell slightly below expectations.
Peloton, a company known for its connected fitness equipment like at-home exercise bikes, experienced a 3% increase in shares. They unveiled a new marketing strategy to attract more customers as part of their efforts to turn the brand around. The company also introduced a new pricing structure for their digital app.
Shares of the online reviewing company surged by over 9% following news that activist investor TCS Capital Management had acquired a stake in the company. With TCS Capital now among the top five shareholders, they expressed their belief that Yelp is significantly undervalued and could potentially be sold to a private equity buyer at a substantial premium of over 120% at a price of at least $70 per share.