Home Depot, Robinhood, SoFi and others

A customer leaves Home Depot with merchandise she bought on August 17, 2021 in Alexandria, Virginia.

Alex Wong | Getty Images

Pay attention to the companies that hit the headlines at noon.

Home Depot – Home Depot jumped 5.7% after the home goods company topped earnings. The company reported earnings of $ 3.92 per share on revenue of $ 36.82 billion. Analysts had expected earnings of $ 3.40 on revenues of $ 35.01 billion, according to Refinitiv.

Robinhood – Shares in the stock trading app fell 3.1% at noon after Atlantic Equities downgraded Robinhood to Neutral from Buy, saying in a note to clients that the stock has little reason to recover in the coming months with such inconsistent gains. …

SoFi Technologies – Shares of fintech company fell 5.5% in midday trading after announcement of a secondary offer 50 million ordinary shares of the company through the sale of certain blocks of shares.

Peloton – The stationary bike company jumped 15.5% in daytime trading after announcing plans to sell approximately 23.9 million Class A common shares at a $ 46 public offering, netting the company about $ 1.07 billion. The announcement comes as Peloton is looking for ways to make money amid slowing growth in sales of its products.

Rivian – Rivian continued its gains less than a week after the company went public in one of its largest IPOs of the year. The stock gained 15.2% during midday trading, signaling that investors are optimistic about Tesla’s rival, backed by Amazon and Ford.

Walmart – Shares in a major retailer fell 2.6% even after a stronger-than-expected quarterly report. Walmart reported third-quarter earnings and revenue above estimates. Its sales in the same stores in the US jumped 9.2%, excluding fuel, year on year, while Walmart also raised its full-year forecast.

Rackspace Technology – Shares in the cloud computing company soared 11.4% in midday trading after beating forecasts by a penny on adjusted quarterly earnings of 25 cents a share. Rackspace Technology’s revenue also beat Wall Street’s estimates. It was 8 Rackspaceth consecutive quarter of revenue growth, and the company said it was well positioned in a fast-growing market.

QuantumScape – Stocks in batteries fell 9% on Tuesday after Morgan Stanley downgraded QuantumScape to neutral from Buy. The investment firm said the growing competition will destroy the company’s technology leadership in the race for next-generation batteries.

Floor & Decor – Shares in the flooring company jumped 6% after Warren Buffett’s Berkshire Hathaway announced on Monday night in regulatory filings about $ 100 million. The conglomerate bought 816,900 shares in Floor & Decor in the third quarter, according to the report. The price of Floor & Decor is up more than 40% this year after rising nearly 83% in 2020 amid a pandemic boom.

Axon Enterprise – Axon Enterprise, which makes stun guns, body cameras and other public safety equipment, rose 6.2% after reporting strong sales and earnings in the last quarter.

Autoliv – Shares in the auto company surged 6.1% after Autoliv announced a $ 1.5 billion share buyback program over the next three years and also gave an upbeat outlook. The company also unveiled a long-term sales growth target of 4% to 6% per annum starting in 2024.

Lucid Group – The electric car maker rose 23.7% on the day after reporting more than 17,000 bookings for its Air sedan, up from 13,000 in the previous quarter. Lucid has also confirmed its production plans for 2022.

– with reports by Yoon Lee, Pippa Stevens, Jesse Pound and CNBC’s Hannah Miao.

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