March 4, 2024


An employee scans an order in the shipping area of ​​Overstock.com’s fulfillment center in Salt Lake City, Utah.

Ken James | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Overstock Network — Shares rose 16% on news that the e-commerce company won an auction for Bed Bath & Beyond’s digital assets and intellectual property, including its brand name.

Spirit Aerosystems — The Boeing supplier said workers would go on strike starting Saturday, halting production at the company’s Wichita, Kansas, factory, sending shares down nearly 9%. BoeingShares of the company also fell more than 2%. Spirit AeroSystems builds the fuselage for the Boeing 737 Max, as well as the fronts of many of Boeing’s other aircraft.

Accenture — The stock fell 2.6% after the consulting firm cut its cap income forecast this fiscal year. The company said it expected the rate to be between 8% and 9% in local currency, after previously setting a range of 8% to 10%.

Shares in Darden Restaurants, the parent company of Olive Garden, fell 2 percent. Darden earned $2.58 a share on revenue of $2.77 billion in the latest quarter. The results beat analysts’ expectations for earnings of $2.54 a share, but met revenue expectations, according to Refinitiv. The company’s full-year earnings guidance range included the consensus of analysts surveyed by FactSet. The company also increased its quarterly dividend and announced the retirement of chairman Eugene Lee.

Anheuser-Busch InBev — Deutsche Bank upgrades the beer giant to buy from hold, citing the fading headwinds of recent customer churn in its partnership with transgender influencer Dylan Mulvaney , the bank’s shares rose nearly 2%.

NRG Energy — The stock rose 4.6% in after-hours trading The Wall Street Journal reports Activist investor Elliott Investment Management wants to remove its chief executive and other executives.

tesla — Tesla shares were flat in choppy trade after Morgan Stanley downgraded the electric car giant to equal weight from overweight, citing valuation concerns.

root — Auto insurance stocks soar more than 35% after Wall Street Journal report on embedded insurance on Wednesday A takeover offer of $19.34 per share was made.

Sotera Health — Lab testing company says shares up 18% it settles the lawsuit Ethylene oxide in Illinois.

Alcoa — Shares in the aluminum company fell 4% after Morgan Stanley downgraded its rating to underweight from equal weight. Alcoa may miss expectations for a key profit metric in the coming quarters, the company warned.

amazon — The e-commerce giant rose 3.6% after JPMorgan reiterated its “overweight” position on the stock and pointed to opportunities for further growth in Amazon Prime. Loop also reiterated its Buy rating and raised its price target, as it sees a chance for the stock to rise further.

dow chemical — The chemical company fell 1% as Bank of America downgraded its rating to underperform from neutral. The company said a recovery in demand was “elusive” and hurt prices.

Zhiyou.com, TripAdvisor — Expedia and TripAdvisor rose 1.5 percent and 3.2 percent, respectively, after B. Riley began rating each stock a buy. Expedia’s risk/reward profile is attractive, while TripAdvisor’s margins could expand, the firm said.

Eli Lilly — Bank of America rose 1.5% after reiterating the stock as a buy and saying it remains the firm’s favorite in the biopharmaceutical space.

— CNBC’s Samantha Subin, Michelle Fox and Jesse Pound contributed reporting.