Stocks making the biggest moves at noon: Beyond Meat, Virgin Galactic, AMC, and more
Patties from Beyond Meat Inc.’s plant-based burger Beyond Burger are cooked on a pan.
Yuriko Nakao | Getty Images
Check out the companies that are making headlines in midday trading.
Beyond Meat – The alternative meat company’s stocks rose 10% after Bernstein double valued the stock to outperform the underperformance. Beyond Meats shares are down nearly 40% since January, but Bernstein said sales should pick up pace as the economic reopening expands.
Virgin Galactic Holdings – Virgin Galactic shares rose 27.6% after Saturday’s space flight test. The test, which is a step forward for the space tourism company, had previously been delayed by more than six months. At one point on Monday, the stock turned positive for 2021.
AMC Entertainment – The cinema chain’s shares rose 13.3% after the company’s largest shareholder, Dalian Wanda Group, a Chinese conglomerate, sold most of its shares in AMC. A Securities and Exchange Commission filed on Friday shows that Dalian Wanda sold 30.4 million shares for about $ 427 million.
Dollar General – The discounter’s stocks fell nearly 4% after Bank of America downgraded the stock from neutral to underperformance. The company said in a note that Dollar General tends to underperform when gas prices are high.
Norwegian Cruise Line – The cruise company’s shares fell 4.7% after the company announced plans to return cruising in the US this summer.
HP – Tech stock rose about 2% after Citi upgraded HP to buy from Neutral. The company said in a statement to customers that demand for personal computers should remain strong after the pandemic.
Moderna – Modera shares rose 1.7% after the pharmaceutical company announced a manufacturing agreement with South Korean biotech company Samsung Biologics on Saturday. The move will allow Moderna to offer its Covid-19 vaccine outside of the United States from the third quarter of 2021.
– CNBC’s Maggie Fitzgerald, Pippa Stevens and Jesse Pound contributed to the coverage.
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