Starbucks coffee shop logo seen in one of its stores.
Stephen Zenner | LightRocket | Getty Images
Check out the companies that are making headlines in the midday trading session.
Ulta Beauty – The shares of the cosmetics retailer fell more than 3% after Guggenheim downgraded Ulta from buying to neutral. The Wall Street firm said it was concerned about profit margin uncertainty amid increased competitive pressure on digital platforms.
Starbucks – The shares of the coffee chain rose 2.8% after the shares were updated to buy from neutral by BTIG. The company said in a note to customers that it expects an accelerated reopening of the restaurant and that the new federal stimulus package will lead to higher profit forecasts for Starbucks.
DraftKings – The betting company’s shares advanced more than 1% after DraftKings said it priced its new $ 1.1 billion debt offering in convertible senior notes. The company had initially planned a $ 1 billion offer.
Nikola Corp. – Vehicle design firm shares fell 6.5% after the company announced a $ 100 million common share offering in a lawsuit with the Securities and Exchange Commisssion. Nikola said the profits will be invested in the company’s infrastructure and general business purposes.
AstraZeneca – AstraZeneca’s stock rose 2.6% after a report said that its Covid-19 vaccine will be recommended for people aged 65 and over in Canada. The CBC report was released after several European countries decided to stop using the vaccine amid concerns about its side effects. Both the World Health Organization and AstraZeneca say the vaccine is safe.
Avis Budget – Avis Budget, meanwhile, lost 7.6% at noon after Morgan Stanley downgraded equity to “equal weight” from “overweight”.
– CNBC’s Maggie Fitzgerald, Jesse Pound, Pippa Stevens and Rich Mendez contributed to the report.