Check out the companies making headlines midday Monday:
Alphabet — Alphabet shares gained more than 2% and hit an all-time high after an analyst at Pivotal Research upgraded them to buy from hold. The analyst noted the internet giant will "find new and expanded revenue streams under new CEO Sundar Pichai."
SmileDirectClub — SmileDirectClub jumped 21.6% on Monday after the company announced a deal to sell some of its products at Walmart. The line of products that will be sold at the retail giant include an electric toothbrush, a teeth-whitening kit and varieties of toothpaste. The items will also be available on Walmart's website. Additionally, Craig-Hallum Capital initiated coverage of the company with a buy rating, according to FactSet.
CrowdStrike — Shares of the cybersecurity company surged 8.6% after CEO George Kurtz told CNBC's Jim Cramer that the company had a great quarter. "We've got great technology and we're solving a really important problem ... So we're excited about the quarter and delighted about the future," he said Friday on CNBC's "Mad Money."
Commercial Metals — Commercial Metals rose as much as 8.4% after the steel manufacturer posted a quarterly profit of 73 cents a share. That's above a FactSet estimate 54 cents a share. CEO Barbara Smith said in a statement the company expected "construction and infrastructure demand to remain resilient." The stock later closed lower, however.
Bed Bath & Beyond — Bed Bath & Beyond gained 3% after the retailed announced it would be selling a bundle of real estate to an affiliate of Oak Street Real Estate Capital and leasing it back. The deal will give Bed Bath & Beyond proceeds of $250 million.
Under Armour — The athletic retailer's stock shed more than 6% after J.P. Morgan resumed coverage on the stock with a neutral rating. The firm also established a $23 target on the stock, saying that fourth quarter revenue growth will likely come up short of analyst estimates.
Salesforce — Shares of Salesforce rose 4.4% after an analyst at RBC Capital Markets upgraded the software company to top pick from outperform. The analyst said the company's guidance for the current quarter was conservative and that Salesforce was well-positioned for margin expansion in the coming year after making several big acquisitions in 2019. RBC also raised its price target on the stock to $215 per share from $200, representing a 29% upside from where shares closed on Friday.
Nordstrom — The department store company's stock ticked 2.8% higher following an upgrade to neutral from underweight from J.P. Morgan. The firm said Nordstrom has about 34% of all sales online, with the goal of reaching 40% by 2022, putting the company well ahead of its competitors.
Cal-Maine Foods — Cal-Maine Foods shares dropped 7.9% after the fresh-eggs producer posted a surprising loss for its fiscal second quarter. The company reported a loss of 21 cents a share. Analysts polled by Refinitiv expected a profit of 3 cents a share.
— CNBC's Pippa Stevens, Maggie Fitzgerald, Jesse Pound and Michael Bloom contributed to this report.