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Check out the companies making headlines in afternoon trading.
Media Stocks — A handful of media and studio stocks rose Wednesday after the nearly 150-day writers’ strike ended. Shares of Warner Bros. Discovery And Big global rose by more than 2.5%, while Comcast 0.9% added. Disney hovered near the flatline while Netflix rose by 0.3%.
MillerKnoll – Furniture stocks rose more than 27% after the release of first-quarter fiscal 2024 earnings, which beat Wall Street expectations and raised full-year earnings expectations. Excluding items, MillerKnoll now expects earnings per share to be between $1.85 and $2.15, compared to the previous guidance of $1.70 to $2.00 per share.
ChargePoint, Flashing charging — ChargePoint and Blink Charging shares rose 4.1% and 5.5%, respectively, after UBS initiated coverage of the electric charging stock with buy ratings. Both stocks appear well positioned to benefit from the accelerated adoption of electric vehicles, the company writes.
Costco — Shares of the wholesale superstore rose 2.1% after reporting a fourth-quarter profit decline. Costco executives noted higher store traffic and an 8% year-over-year increase in memberships.
XPO — Shares rose roughly 2% after XPO stock was upgraded to outperform Evercore ISI, with analyst Jonathan Chappell highlighting margin growth potential and stronger pricing power.
Mattel — Shares of the toy maker rose more than 4% after Morgan Stanley began reporting on Mattel with an overweight rating. The investment firm said Mattel should see its sales and margins increase in the third and fourth quarters, helped by the success of the Barbie movie.
Amazon – Shares of Amazon fell 1% on Wednesday, a day after the Federal Trade Commission filed a long-awaited antitrust lawsuit against the tech giant. The stock fell 4% on Tuesday.
Levi Strauss & Co. — The apparel maker added 1.2% after TD Cowen initiated coverage with an outperform rating. The company said Levi’s is in the “early stages of a favorable denim cycle.”
Guardian Health – The oncology company rose 5.6% after Piper Sandler upgraded Guardant Health from a neutral rating to overweight, saying the recent sell-off creates a “compelling opportunity” for investors.
AAR Corp — Shares of the aircraft services company rose 2.3% on its quarterly earnings report. The company exceeded analyst expectations for earnings and revenue in the first quarter of fiscal 2024, reporting $550 million in quarterly revenue, up 23% from the previous year.
Cosmos energy – Shares rose more than 6% after Bank of America upgraded the upstream oil company to a buy-from-neutral rating, saying Kosmos Energy’s current valuation looks attractive.
– CNBC’s Brian Evans, Alex Harring, Jesse Pound and Hakyung Kim contributed reporting