Stocks making the biggest moves midday: American Airlines, Starbucks, Peloton and more
Check out the companies making headlines in midday trading.
AMC Entertainment, Hycroft Mining — The movie theater chain saw its shares rally 6.8% after announcing it agreed to purchase a roughly 22% stake in a tiny gold and silver miner, Hycroft Mining. The share price of Hycroft Mining, which is less than $2, gained 9.4%
Starbucks — Shares of the coffee chain jumped 4.8% after it announced a partnership with Volvo Cars to research the usage and potential scalability of electric vehicle chargers at Starbucks stores nationwide. Meanwhile, Starbucks also unveiled the latest steps it's taking to reduce its disposable cup use.
Delta Air Lines, United Airlines, Southwest Airlines — Shares rose after Delta, United and Southwest said bookings came in ahead of expectations and the recovery in travel demand has been faster than projected. Delta jumped 8.7%, United added 9.2%, Southwest gained 4.9% and American Airlines rallied 9.3%.
Coupa Software — Shares plunged 19.2% a day after the business software company issued a much weaker-than-expected full-year outlook. However, Coupa beat expectations for profit and revenue results for its most recent quarter.
GitLab — Shares of GitLab rose 7.8% after the development operations platform beat analysts' estimates in the fourth quarter and issued better-than-expected guidance.
Peloton — Shares of the at-home fitness company jumped 11.9% after Bernstein initiated coverage of the stock with an "outperform" rating. The analyst mentioned Peloton's healthy underlying business, new management and recent stock price plunge. Her $40 price target implies the stock could nearly double over the next year.
Planet Fitness — Planet Fitness shares are up 2.5% after Evercore ISI initiated coverage of the company with an outperform rating. Evercore issued a $130 price target on the fitness center operator, representing 60% upside from the stock price at Monday's close.
Toast — Toast shares jumped 6.9% after Baird upgraded the restaurant software company to outperform from neutral and said its shares could rally nearly 54%. Toast may profit from "above-GDP growth" in the restaurant industry and international expansion opportunities, Baird said.
GoodRx — Shares jumped 10.4% after Baird upgraded the stock to outperform. The sell-off in GoodRx this year offers "attractive entry point" for investors, according to the firm
eBay — The retailer's stock price gained 3.6%. On Tuesday, Deutsche Bank initiated coverage of eBay with a buy rating, saying investors are underappreciating the firm's position in the resale market. Analysts expect growth in the company's luxury resale market in European markets.
— CNBC's Tanaya Macheel, Samantha Subin, Jesse Pound, Sarah Min and Yun Li contributed reporting