An exterior view of the Party City store, which closes its doors on July 8, 2020 in Pembroke Pines, Florida.
Johnny Louis | Getty Images
Look at the companies that make headlines in the afternoon trading.
Intel’s Shares have risen more than 8% after CNBC’s David Faber announced that CEO Bob Swan will step down from office, which takes effect next month. The company later confirmed the news. Intel has struggled over the past few years and is losing market share to competitors such as AMD.
Airbnb – The holiday rental share rose more than 6% on Wednesday, building up 8.6% in the previous session. The stock started the year volatile and is on track for its sixth day with a move of more than 3% in 2021. Airbnb said it is canceling future discussions in the Washington area, Metro, during President’s week and block. -choke Joe Biden’s inauguration.
Zoom video – Shares beat more than 7% and continued their setback of recent losses. The popular stay-at-home game, which rose by 395% in 2020, has experienced a weak point in recent weeks as investors switched from pandemic plays. The share fell by almost 30% in December. The video conferencing company issued new shares on Wednesday to raise about $ 1.75 billion in cash. According to CNBC’s Jim Cramer, Zoom is here to stay and the recent decline in the stock may be over.
GameStop – The company has risen more than 60% to a record after joining co-founder and former CEO Ryan Cohen of Chewy. Wednesday’s jump brought the stock’s week-to-date gain to more than 80%.
Party City – Shares tumbled more than 14% while the company gave poor guidance for its fourth quarter during an investor conference. According to the retail chain, the rapid increase in new cases of coronavirus has a greater impact on consumer behavior, including the reduction of social gatherings.
General Motors – Shares continued to move higher after the company announced several new projects earlier this week, including an electric shuttle and a flying car. Nomura Instinet upgraded the stock to buy at neutral and praised its strategy for electric vehicles. The stock rose nearly 12% this week alone.
Urban Outfitters – The retailer declined 6% after saying sales for the two-month period ending December 31 fell 8.4% year-on-year. The company also announced on January 31 that CEO Trish Donnelly is leaving.
Target – Shares rose to an all-time high on Wednesday before returning gains and trading about 1% lower. The move came after Target said sales of the same stores grew 17.2% over the holiday season, with online sales more than doubling in November and December.
KB Home – The home construction business rose more than 5% after KB Home reported better-than-expected quarterly earnings. KB Home earned $ 1.12 per share on $ 1.19 billion in revenue. According to Refinitiv, analysts expected earnings of 93 cents per share on revenue of $ 1.14 billion.
Exxon Mobil – Energy giant shares rose more than 1% after JPMorgan upgraded the stock to overweight from neutral. The firm said Exxon’s dividend is safe, reflecting Morgan Stanley’s sentiment from its Exxon upgrade on Monday.
Twitter – Social media share rose more than 2% after MKM Partners upgraded the company to buy from neutral, saying it was right to leave negative sentiments behind due to the pandemic and politics. The share is down more than 11% in the new year as Twitter and other companies intensify their efforts to rid their services of content that could lead to violence, such as the events of the uprising at the Capitol. Twitter has permanently suspended President Donald Trump’s account.
– Maggie Fitzgerald, Jesse Pound, Pippa Stevens and Fred Imbert from CNBC reported.
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