PerkinElmer, Boeing, Global Payments, Bumble and more
Display outside the Nasdaq MarketSite is pictured as dating app operator Bumble Inc. (BMBL) made its debut on the Nasdaq Stock Exchange during the company’s IPO on February 11, 2021 in New York City, New York, US.
Mike Seger | Reuters
Take a look at the companies making headlines in afternoon trading on Monday.
Boeing – Shares of the aircraft maker rose more than 7% after CNBC approved inspection protocol amendments by the Federal Aviation Administration that should allow the jet maker to resume deliveries of its 787 Dreamliner. Separately, Boeing defense workers will vote on Wednesday on a newly proposed labor deal aimed at averting the strike.
Target — The retail stock rose more than 2% after Wells Fargo upgraded Target from similar-weight to overweight. The firm said investors are very down on the stock, which it considers a “proven share gainer.”
PerkinElmer — Shares of PerkinElmer rose more than 6% after the diagnostics and life sciences company reported better-than-expected sales and profit for the second quarter. It also announced plans to sell some of its non-core units to private equity firm New Mountain Capital for $2.45 billion in cash.
Advanced Micro Devices – Several semiconductor stocks jumped, with Advanced Micro Devices rising 2.5%. Shares of Micron Technology, Nvidia and Intel climbed nearly 2%.
Global Payments – Shares of the fintech company rose 7.5% after a better-than-expected quarterly report. Global Payments reported $2.36 in adjusted earnings per share on revenue of $2.28 billion. Analysts surveyed by Refinitiv penciled in $2.34 in earnings per share on revenue of $2.07 billion. Global Payments also announced a deal to purchase EVO Payments for $34 per share.
Colgate-Palmolive – The consumer products company gained more than 2% after Wells Fargo’s upgrade from low-weight to equal-weight. The firm said that the bottom line of Colgate-Palmolive may indicate further improvement.
Nio – Shares rose more than 2% after the Chinese electric vehicle company and its rival Li Auto reported an increase in July car deliveries. Lee Auto rose 3%.
Shares fell 4% after Check Point Software Technologies — a cybersecurity firm — reported disappointing billing revenue. Billings came in at $570.6 million, below the StreetAccount estimate of $578.3 million. It reported better-than-expected earnings and revenue monitoring for the last quarter.
Bumble — The dating app company’s stock slipped 5.1% on the back of a downgrade from Jefferies, citing a decline in paying customers.
Shares fell 5.5% after Jacobs Engineering Group — the international technical professional services firm — reported calendar second-quarter earnings. Jacobs lowered guidance for fiscal year 2022, citing foreign currency translation adjustments, despite exceeding expectations in its report.
— CNBC’s Yun Lee, Tanaya Machiel, Jesse Pound and Samantha Subin contributed reporting