McCormick spices are displayed on a shelf at a supermarket in San Anselmo, California, on March 28, 2023.<\/p>\n
Justin Sullivan | Getty Images News | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Check out the companies making headlines in midday trading.<\/em><\/p>\n Warby Parker<\/a><\/span><\/span><\/span> \u2014 The eyewear maker popped 6% after Evercore ISI upgraded<\/a> shares to outperform from in line. The firm said 2024 should be a “fundamental inflection year” for Warby Parker.<\/p>\n Trex<\/a><\/span><\/span><\/span> \u2014 Shares of the wood-alternative decking manufacturer declined 3.9% even after Goldman Sachs initiated Trex with a buy rating. The bank said the company is “well-positioned” to drive growth and profitability.<\/p>\n Eli Lilly<\/a><\/span><\/span><\/span>, Point Biopharma<\/a><\/span><\/span><\/span> \u2014 Eli Lilly shares slumped 3.7% after the pharmaceutical giant announced plans to purchase cancer therapy developer Point Biopharma for $12.50 a share in cash, or about $1.4 billion. Point Biopharma shares surged more than 85%.<\/p>\n Rivian Automotive<\/a><\/span><\/span><\/span> \u2014 Shares of the electric vehicle maker lost 5%, even though Rivian’s deliveries topped estimates and showed sustained demand. Morgan Stanley earlier reiterated the company as overweight, saying Rivian’s FY23 production guide of 52,000 units supports the firm’s delivery forecast of 48,000 units. Concerns remain about softening demand<\/a> for EVs in the U.S. due to higher borrowing costs.<\/p>\n Airbnb<\/a><\/span><\/span><\/span> \u2014 The short-term vacation rental company fell more than 5% after KeyBanc downgraded the stock<\/a> to sector weight from overweight. KeyBanc said Airbnb’s margins will be squeezed as post-pandemic travel demand eases.<\/p>\n McCormick<\/a><\/span><\/span><\/span> \u2014 Shares of the spice maker slipped 9% after McCormick reported earnings of 65 cents per share, excluding items, for the recent quarter, on revenue of $1.68 billion. That came roughly in line with earnings per share of 65 cents and $1.7 billion in revenue expected by analysts polled by StreetAccount.<\/p>\n Meta<\/a><\/span><\/span><\/span> \u2014 Shares of the social media behemoth slipped more than 2% following news that the company is considering charging<\/a> European Union Facebook and Instagram users a $14 monthly fee to access both platforms without ads.<\/p>\n Fiverr International<\/a><\/span><\/span><\/span> \u2014 Shares gained 2% after Roth MKM upgraded the company to buy from neutral. The Wall Street firm is “incremental positive” on the stock, citing a freelancer survey that supports Fiverr’s leading position among gig workers.<\/p>\n Ally Financial<\/a><\/span><\/span><\/span> \u2014 The home and auto company lost 2.5%. Earlier in the day, Evercore ISI added a tactical outperform rating on the stock, noting it appears oversold near term. However, Evercore ISI reiterated a long-term in-line rating on Ally<\/a> and trimmed its 12-month price target.<\/p>\n \u2014 CNBC’s Alex Harring, Brian Evans, Samantha Subin and Jesse Pound contributed reporting.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":" McCormick spices are displayed on a shelf at a supermarket in San Anselmo, California, on March 28, 2023. Justin Sullivan | Getty Images News | Getty Images Check out the companies making headlines in midday trading. Warby Parker \u2014 The eyewear maker popped 6% after Evercore ISI upgraded shares to outperform from in line. The…<\/p>\n","protected":false},"author":1,"featured_media":50974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-50973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n