January 25, 2020 Real Estate Publication

Stocks making the biggest moves midday: RH, Nike, Lyft, PG&E and more

Restoration Hardware signage is displayed on a monitor of the floor of the New York Stock Exchange in New York, Feb. 24, 2017.

Michael Nagle | Bloomberg | Getty Images

Check out the companies making headlines in midday trading:

Nike — Shares of the athletic retailer gained more than 2% after the company raised its dividend to 24.5 cents per share. This is an 11% increase from the prior yield of 22 cents, and it’s the eighteenth straight year that the company has hiked its dividend.

RH — Shares of RH surged nearly 8% after Warren Buffett’s Berkshire Hathaway revealed a new stake in furniture retailer. Berkshire owned 1.2 million shares of RH at the end of the third quarter, a regulatory filing showed. The new stake in RH is worth $206.3 million as of Sept. 30, making it the fourth biggest stakeholder in RH.

Lyft — Shares of the ride hailing company rose 4% after J.P. Morgan added Lyft to its top picks list, alongside Amazon, Facebook and Netflix. The firm said Lyft’s strong third-quarter earnings and ability to take increasing share of the ride hailing market is accelerating the company’s path to profitability.

J. C. Penney — Shares of the embattled department store retailer surged 7.4% after the company posted a smaller-than-forecast loss for the previous quarter. J.C. Penney reported a loss of 30 cents per share. Analysts polled by Refinitiv expected a loss of 55 cents per share. CEO Jill Soltau said the company made “significant progress on our efforts to return JCPenney to sustainable, profitable growth.”

Applied Materials — Shares of semiconductor company soared more than 9% to a new 52-week high after reporting strong fiscal fourth-quarter earnings. Applied Materials reported earnings of 80 cents per share on revenue of $3.75 billion. Wall Street expected earnings of 76 cents per share on revenue of $3.68 billion, according to Refinitiv. The company also gave strong next quarter revenue and earnings guidance.

Nvidia — Shares of Nvidia dropped more than 2% after the graphics chipmaker signaled a weaker season for its gaming chip business in the current quarter. New Street Research downgraded Nvidia to neutral from buy, saying it was waiting for a better entry point. Nvidia reported better-than-expected quarterly earnings and revenue however. Its third-quarter earnings came in at $1.78 per share, topping Wall Street estimates of $1.57 per share, according to Refinitiv.

PG&E — Shares of PG&E surged more than 9% after U.S. activist investor ValueAct revealed a 1.4 million stake in the California utility company. PG&E is embroiled in controversy amid accusations that its equipment is responsible for some of the most destructive wildfires in California’s history. ValueAct, led by founder-CEO Jeffrey Ubben, is known for advocating for changes at the companies in which it’s invested by working with management.

– CNBC’s Maggie Fitzgerald, Yun Li, Pippa Stevens and Fred Imbert contributed to this report.

Related Posts

Victim group blasts New Orleans Saints for helping Catholic Church with PR on clergy sex abuse

January 25, 2020

January 25, 2020

Lawyers say they want the New Orleans Saints and its spokesman to testify about that football team’s public relations assistance...

Porsche’s first Super Bowl ad since 1997 features car chase with its all-electric Taycan

January 25, 2020

January 25, 2020

Porsche will return to Super Bowl advertising for the first time since 1997 with a 60-second commercial that features the...

Everything Jim Cramer said about the stock market on ‘Mad Money,’ including big earnings week, L Brands’ predicament

January 25, 2020

January 25, 2020

CNBC’s Jim Cramer broke down the looming week of earnings reports with quarterly results coming from the likes of Facebook,...

Cramer’s week ahead earnings: ‘We’ve got a huge number of companies reporting next week’

January 25, 2020

January 25, 2020

As fears of the coronavirus grow, stock prices are likely to contract and investors should be prepared for buying opportunities,...

Cramer’s lightning round: American Express is working with millennials

January 24, 2020

January 24, 2020

American Express: “Oh, that quarter was beautiful. … and they did it with millennials. Millennials are really signing up, 50%...

Four analysts turned bullish on Victoria’s Secret-parent L Brands. Jim Cramer isn’t buying it, yet

January 24, 2020

January 24, 2020

CNBC’s Jim Cramer said Friday that he is perplexed by the bullish reviews L Brands, the holding company of Victoria’s...

Trump just revealed the logo for the Space Force, and it looks like the ‘Star Trek’ symbol

January 24, 2020

January 24, 2020

The official United States Space Force Logo (L) looks very similar to the StarFleet Command United Federation of Planets logo....

Activision Blizzard’s next esports bet hinges on the power of the Call of Duty franchise

January 24, 2020

January 24, 2020

Even 17 years after the first Call of Duty game release, the franchise is still one of the biggest sales...

Wendy’s does not need to beat McDonald’s for its breakfast to succeed, analyst says

January 24, 2020

January 24, 2020

Wendy’s foray back into breakfast can be a success without swiping considerable market share from McDonald’s, Barclays’ analyst Jeffrey Bernstein...

Trump thanks China’s Xi Jinping for handling of coronavirus

January 24, 2020

January 24, 2020

An electrician sets up wiring while workers drive excavators at the construction site of a field hospital on January 24,...

Boeing 737 Max could be recertified before midyear, FAA says

January 24, 2020

January 24, 2020

Two workers walk under the wing of a 737 Max aircraft at the Boeing factory in Renton, Washington, March 27,...

Lawyers will seek New Orleans Saints testimony on team’s PR help to Catholic archdiocese about clergy sex abuse

January 24, 2020

January 24, 2020

New Orleans Saints owner Gayle Benson stands on the field during a NFL game at the Mercedes Benz Superdome on...

Oil drops the most since July on fears coronavirus will hit growth

January 24, 2020

January 24, 2020

A militia member checks the body temperature of a driver on a vehicle at an expressway toll gate in Wuhan...

National Lacrosse League continues sponsorship streak with AT&T deal

January 24, 2020

January 24, 2020

The National Lacrosse League has reached a new six-figure sponsorship deal with entertainment and telecom giant AT&T as it tries...

Boeing 737 Max could be recertified before mid-year, FAA says

January 24, 2020

January 24, 2020

Two workers walk under the wing of a 737 Max aircraft at the Boeing factory in Renton, Washington, March 27,...