A man wears Levis Strauss & Co. clothing during the company’s initial public offering (IPO) on the New York Stock Exchange (NYSE) in New York, USA, on Thursday, March 21, 2019.
Jeenah Moon | Bloomberg | Getty Images
Look at the companies that make headlines in the afternoon trading.
Levi Strauss – The retailer’s shares jumped 2.6% after the company beat the best estimates in the first quarter. Levi’s earned 34 cents a share on a adjusted basis, while reporting $ 1.31 billion in revenue. Analysts surveyed by Refinitiv expected the company to earn 25 cents on $ 1.25 billion in revenue. The results were boosted by strong power in Levi’s digital sales, which rose by 41%.
FuboTV – The streaming service increased by 12.6% after FuboTV won the exclusive streaming rights to the qualifying matches of the 2022 Qatar World Cup. The qualifying matches will feature ten teams in the South American Football League.
WD-40 – The stock rose 9.5% after reporting earnings per share of $ 1.24, according to Refinitiv, 8 cents below the analysis estimate. Revenue also missed expectations. The company said supply chain issues are hampering the ability to meet customer demand.
Honeywell – Shares in the conglomerate rose 3.4% after Deutsche Bank upgraded the share to buy. Deutsche said it sees an attractive buying opportunity after a sharp annual performance. The bank also cites attractive market-end exposure, high quality and likely short-term returns.
DraftKings – The sports betting company’s shares rose 2% after Jefferies named DraftKings the best choice. The Wall Street firm calls DraftKings a ‘top operator’ and a leader, as states continue to legalize the game.
Sogou – The internet search business rose 3.8% on Friday after Reuters reported that China’s antitrust regulators were prepared to approve Tencent’s plan to take the company private. With the $ 3.5 billion deal, Tencent can buy the 60% of Sogou that it does not yet own.
PriceSmart – Shares of the discount retailer fell 7.1% after analysis estimates for its quarterly earnings were lacking. PriceSmart said the pandemic is still weighing its business in certain markets.
Bridgetown Holdings – According to people who spoke to Bloomberg, the SPAC, backed by billionaire investors Peter Thiel and Richard Li, fell 2.3% over the news that it is in advanced talks to reveal the travel service company, Indonesia.
Boeing – Shares of the aircraft maker fell 1% after US airlines temporarily grounded more than 60 of the company’s 737 MAX jets on Friday. The move came after Boeing asked 16 carriers operating the aircraft to address a problem with the aircraft’s electrical power system.
Octa – The software company rose 2.4% after BTIG upgraded the stock to buy from neutral. The firm said in a note that demand for Okta’s customer identity business appears to be high and that competition from Microsoft does not appear to be a short-term threat.
– with coverage of CNBC’s Yun Li, Jesse Pound and Pippa Stevens.