Check out the companies making headlines midday Tuesday:
Beyond Meat — Shares of the meat-substitute maker plunged 25% after an analyst at J.P. Morgan downgraded them to neutral from overweight. The analyst said "this downgrade is purely a valuation call," noting: "As we wrote last week, 'At some point, the extraordinary revenue and profit potential embedded in BYND… will be priced in' – we think this day has arrived."
Casey's General Stores — Casey's General Stores surged 10% to a record high after reporting quarterly numbers that topped expectations. The company posted earnings per share of 68 cents on revenue of $2.18 billion. Analysts polled by Refinitiv expected a profit of 46 cents per share on sales of $2.12 billion. Casey's also raised its fiscal 2020 guidance for same-store sales, a key metric for retailers.
Facebook — The social media company's stock climbed 1.9% after an analyst at MoffettNathanson upgraded it to buy from neutral, citing "improved underlying fundamentals." The analyst added that the regulatory risks Facebook faces are priced into the stock.
HD Supply Holdings — The industrial distributor's stock fell more than 5.5% after the company lowered the higher end of the range for its full-year earnings guidance. HD Supply expects earnings for fiscal 2020 to range between $3.52 and $3.70 per share. That's down from a range of $3.52 and $3.81 per share. CFO Evan Levitt also warned that U.S. tariffs on Chinese goods could impact the company's numbers moving forward.
Phibro Animal Health — The animal health company fell 6.3% after an analyst at Barclays initiated it with an underperform rating and a $25 price target. The analyst noted the company faces pressure from the African swine flu's impact in China and declining milk prices.
Live Nation Entertainment — An analyst at Atlantic Equities initiated the events and entertainment company with an overweight rating, citing "multiple growth opportunities." Live Nation shares climbed 2.3%.
Dollar Tree — The discount retailer was upgraded to overweight from neutral by J.P. Morgan. The analyst said the company's same-store sales and margins are stabilizing. Dollar Tree shares rose 2.7%.
Symantec — Morgan Stanley downgraded the computer antivirus software company to underweight from equal weight, citing increasing competition at a time when Symantec is underperforming the broader software space. Symantec shares fell 1.9%.
JetBlue Airways — JetBlue Airways shares were upgraded to buy from neutral at Citi, sending them up 4.6%. Citi said JetBlue could get a boost from lower fuel prices in the short term and from lower costs in long haul.