Customers shop at the CVS Pharmacy, on Morrissey Boulevard, in Dorchester, on April 2, 2020. Some pharmacy workers worry about unsafe conditions at their stores.
Pat Greenhouse | Boston Globe | Getty Images
Check out the companies making headlines in midday trading.
CVS Health — Shares of the drugstore chain fell 5.4% even after the company topped expectations in its fourth-quarter earnings report, as demand for at-home Covid tests and vaccines lifted overall store sales. The drugstore chain administered more than 20 million Covid vaccines in the three-month period, a significant jump from the number it gave in each of the prior two quarters.
Enphase Energy — The energy stock surged 12% following the company’s quarterly earnings, which showed record revenues for the fourth quarter and beats on both the top- and bottom-lines. Enphase earned an adjusted 73 cents per share, as compared with estimates of 58 cents. Revenue came in at $412.7 million, compared to expectations of $397 million.
Chipotle — Shares of the burrito chain jumped 10.2% after the company topped Wall Street’s estimates for its fourth-quarter earnings and met its expectations for revenue. Chipotle also reported a 22% increase in net sales to $1.96 billion for the quarter, meeting expectations. Same-store sales rose 15.2%, surpassing StreetAccount estimates of 14.8%.
The Container Store Group — The home retailer saw its shares tumble 22.7% after it reported sales for its fiscal third quarter were lower by 3% than the same time in the previous year and that online sales fell 36% as compared with the year before. The Container Store still reported better-than-expected profits for the quarter.
NCR Corp — Shares of the financial services software maker rose 14.3% even after the company said it would launch a review of its operations, including “alternatives available to enhance both NCR’s value and shareholder returns.” It also reported a quarterly beat on both earnings and revenue.
Penn National Gaming — Shares of the gaming and casino stock rose 5.6% after Susquehanna upgraded it to positive from neutral, saying Penn’s digital segment can “inflect positively” and has “been de-risked at current trading levels.”
Lyft — Shares of the ride-hailing company rose 6.8% after beating on the top and bottom lines of its quarterly results. Gains were capped by the fact that Lyft reported fewer active riders than in the prior quarter.
Virgin Galactic — Virgin Galactic shares rose 4.9% even after Bernstein lowered its price target on the stock to $10 from $22, saying it worries about market appetite for space tourism investing and noting talent retention and access to capital as potential risks.
General Motors — Shares of GM rebounded Wednesday after pulling back the previous session following a downgrade from Morgan Stanley. The stock rallied 2.5%, even as another firm, Nomura, also downgraded the stock.
— CNBC’s Maggie Fitzgerald, Yun Li and Hannah Miao contributed reporting.