Check out the companies making headlines in midday trading.
cry — Shares of the online review firm rose 5.7% after activist investor TCS Capital Management took a stake in the company, saying open the envelope Companies should explore strategic options, including a sale. TCS owns more than 4 percent of Yelp, making it one of the company’s top five shareholders. TCS said Yelp is “significantly undervalued” and could be sold to a private equity buyer for at least $70 a share, a premium of more than 120%.
car zone — Shares of the auto retailer fell 6% after fiscal third-quarter revenue missed expectations. AutoZone reported revenue of $4.09 billion, below the consensus estimate of $4.12 billion by analysts polled by Refinitiv. Earnings of $34.12 per share topped analysts’ forecast of $31.51. Inventories rose 7.4% year-over-year.
Lowe’s — The home improvement retailer rose 1.7 percent after its first-quarter earnings report beat analysts’ expectations, but the company Lowered its full-year outlook.
Chevron — The San Ramon, Calif.-based energy producer was up 2.9 percent in midday trading. Earlier Tuesday, HSBC upgraded Chevron to buy from hold, citing a potential rebound in oil prices.
Zoom Video Communication — Shares fell 8.1 percent after the videoconferencing stock released its first-quarter report. While the company beat Wall Street estimates for earnings per share and revenue, Zoom’s guidance for the quarter was only in line, according to Refinitiv data.
Broadcom – Announced at Apple Billion dollar chip deal with Broadcom. The multi-year plan stems from the iPhone maker’s pledge to inject $430 billion into the US economy.
BJ’s Wholesale — Shares fell 7.3 percent after Wholesale Club’s quarterly revenue fell slightly below estimates of analysts polled by Refinitiv. Comparable club sales excluding gasoline were also slightly below expectations.
large force — Shares of the connected fitness equipment company, best known for its home exercise bike, unveiled a new product, down 1.1% Marketing strategy to grab new customers. The brand relaunch comes as Peloton tries to turn things around, including a new pricing structure for its digital app.
Advanced Micro DevicesCompany — Shares of the semiconductor company rose 0.1 percent to hit a new 52-week high.Bank of America Reiterate the chipmaker as a buy In a note Tuesday, it said AMD is on the “edge of another huge opportunity” brought about by the need for artificial intelligence.
Chimerix — Biotech shares rose 2.1 percent after Baird began research coverage with an outperform rating. The company says it is bullish on “first-in-class” treatments for oncology.
Life Core Biomedicine — Shares rose 50.2% after Lifecore announced $150 million in new financing, the repayment of an outstanding term loan and a new supply agreement.
Integra Life Sciences — Shares fell 20.2% after the medical technology company gave weaker guidance for its second quarter. Earnings per share should come in at 55 cents to 59 cents, the company said, down from a previous range of 75 cents to 79 cents and the consensus estimate of 77 cents by analysts polled by FactSet. Integra said total revenue should be between $372 million and $376 million, down from previous guidance of $396 million to $400 million and the FactSet consensus of $398.1 million.
Quatrix, myriad genetics — Health tech stocks soared 9.2% and 13%, respectively, after Goldman Sachs upgraded them to buy from neutral. The bank said Quanterix’s operating leverage was better than the market had expected, while Myriad’s financial profile was differentiated and currently discounted.
snowflake — Shares rose 1.9 percent ahead of the cloud computing stock’s quarterly report due Wednesday. Wells Fargo said it likes the company’s earnings and reiterated its overweight rating.
CCC Smart Solutions — Shares of CCC Intelligent Solutions rose 0.8% after Evercore ISI upgraded to outperform. The software-as-a-service provider to the property and casualty insurance industry “has been on the ‘artificial intelligence journey’ long before it became a trend,” the company said.
spotify music — The music streaming service fell 0.6 percent, though Guggenheim reiterated a buy on the stock, noting that usage trends remain strong and could help Spotify fuel a healthy growth cycle.
Regional Banks – Several regional banks rose Tuesday.Closely west Pacific up 7.9%, while U.S. and Zion’s An increase of 2% and 4.6%, respectively.
— CNBC’s Hakyung Kim, Michelle Fox, Samantha Subin, Brian Evans, Yun Li, Sarah Min and Michael Bloom contributed reporting.