Zscaler, DocuSign, Virgin Galactic, Kroger and extra

The headquarters of the supermarket chain Kroger can be seen in Cincinnati, Ohio.

Lisa Bärtlein | Reuters

Check out the companies making headlines on Friday lunchtime.

Zscaler — Zscaler is up 21.9% after reporting strong earnings last quarter. The company posted adjusted earnings of 25 cents a share on sales of $318 million. Analysts polled by Refinitiv were expecting earnings of 20 cents a share on sales of $305 million.

DocuSign – Shares rose 10.5% after the company’s quarterly earnings for electronic agreements beat analysts’ expectations. DocuSign’s third-quarter revenue guidance also beat expectations, and its full-year outlook was in line with estimates.

Regeneron Pharmaceuticals – The pharmaceutical stock rose 2.2% after Morgan Stanley upgraded the shares from equal weight to overweight following the release of positive results from its eye drug trial. Regeneron is up almost 19% the day before on these results.

Lyft – The ride-hailing company rose 5.5% on rumors on social media platforms that Lyft could be an acquisition target. The stock was up 17% the day before.

Kroger – Shares traded 7.4% higher after the supermarket chain beat earnings expectations for the previous quarter and raised its full-year guidance.

GameStop, Bed Bath & Beyond — Two of the top meme stocks outperformed on Friday as investors returned to risky assets. GameStop shares are up nearly 12%, while Bed Bath & Beyond is up 8.1%. There was no clear trigger for either stock’s move.

RH – Shares of the company formerly known as Restoration Hardware rose 4.5% after a better-than-expected earnings report. RH earned an adjusted $8.08 per share on sales of $992 million. Analysts polled by Refinitiv had put the company at $6.71 per share on revenue of $968 million. However, the company forecast a 15% to 18% drop in net sales in the third quarter, and its CEO said at the analyst call that the economy was in recession.

Tesla – Tesla’s shares rose 3.6% after a letter to the Texas Comptroller’s Office revealed that the electric car giant is considering building a lithium plant in the state for electric vehicle batteries.

Navient – Shares in the student loan manager fell 3.2% after Barclays downgraded the stock to equal weighting, citing risks from President Joe Biden’s debt relief plan that could potentially hurt the company’s future earnings.

Enphase Energy – Enphase fell 3.7% after Guggenheim downgraded shares to neutral from a buy, and said the energy stock is “fairly valued now and unlikely to have upside potential from our estimates.”

Virgin Galactic — Virgin Galactic shares plunged 4.5% after Bernstein downgraded the stock to underperforming market performance and lowered its price target to $4 from $7 per share. Analyst Douglas Harned pointed to declining confidence in the commercial success of the space tourism company.

Caterpillar — Shares rose 3.5% after the construction equipment maker said it reached a deal with the tax agency that settled a multi-year tax dispute with no penalties.

National Beverage – Shares fell 7.4% after the company disappointed in its latest earnings report. National Beverage reported earnings of 38 cents per share on sales of $318.12 million, according to StreetAccount, compared to consensus estimates of 55 cents per share on sales of $327.29 million.

Zumiez – Shares of the apparel retailer fell 3.8% after it reported disappointing results for the most recent quarter. The company posted earnings of 16 cents per share, which missed a StreetAccount estimate of 47 cents per share. The company’s gross margin also fell short of expectations.

– CNBC’s Tanaya Macheel, Jesse Pound, Samantha Subin and Michelle Fox Theobald contributed coverage.

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