Kayaks are displayed outside a Dick’s Sporting Goods Inc. store in West Nyack, New York.
Craig Warga | Bloomberg | Getty Images
Look at the companies that make headlines in the afternoon trading.
Technical stocks – Technical and more speculative stocks rose massively on Tuesday as a downturn in U.S. Treasury yields helped the sector reverse the strong losses it has seen in recent weeks. The manufacturer of electric cars, Tesla, jumped by more than 14%, at the pace of its best day since March 2020. The solar power company Enphase Energy achieved almost 12%. The chip and disk-related companies Nvidia and Lam Research rose by more than 7%, while Xilinx added about 6.8%.
Zoom Video – Shares of the video communications company boosted lunch by more than 7% after CEO and founder Eric Yuan transferred about 40% of his stake, according to a government dossier. Yuan made the transfers, which amounted to about $ 6 billion, to specified recipients of two trusts as gifts. The company said the transfer was part of the estate planning for Yuan and his wife.
First Energy shares of the energy company rose more than 2% after Bloomberg News reported that activist investor Carl Icahn was in talks with the company about the possibility of taking two seats on the board. Icahn has taken a substantial stake in FirstEnergy and is trying to help the company work through a federal corruption scandal, Bloomberg reported, citing people familiar with the matter.
Dick’s Sporting Goods – Retail shares fell about 6% on Tuesday, despite Wall Street estimates hitting the top and bottom lines for the fourth quarter. Dick’s offered a profit guidance for the year between $ 4.40 and $ 5.20 per share. Analysts polled by FactSet predicted $ 5.15 per share, near the top of the range.
Stitch Fix – Shares of the subscription-style service rose more than 28% after analysts’ revenue expectations failed due to shipping delays and lower customer spending on sales. Stitch Fix lowered its forecast for the current quarter and financial year. According to the company, active customers spend on average 7% less than the same time a year ago.
Baidu – Shares of the artificial intelligence company jumped more than 11% after Reuters reported that the company had passed a trial to make a second listing of its share in Hong Kong. The move sets Baidu almost flat for the week, following a 11.1% drop on Monday.
– CNBC’s Maggie Fitzgerald, Yun Li and Jesse Pound reported.