An exterior view of the Party City store closing its doors on July 8, 2020 in Pembroke Pines, Florida.
Johnny Louis | Getty Images
Check out the companies that are making headlines in the dinner trade.
Intel chip maker shares jumped more than 8% after CNBC’s David Faber reported that CEO Bob Swan would resign from his position with effect next month. The company later confirmed the news. Intel has struggled in recent years and has lost market share to competitors like AMD.
The Airbnb holiday home stock jumped more than 6% on Wednesday, building up 8.6% in the previous session. The stock has had an unstable start to the year and is on track for its sixth day with a move of more than 3% in 2021
Zoom Video – Shares jumped more than 7% and continued their rebound from recent losses. The popular home-to-home bet, which totaled 395% in 2020, experienced weakness in recent weeks as investors rotated out of high-flying pandemic games. The stock fell nearly 30% in December. The video conferencing company issued new shares to raise approx. $ 1.75 billion in cash Wednesday. CNBC’s Jim Cramer said Zoom is here to stay, and the stock’s recent withdrawal may be over.
GameStop – The video came that the company rose more than 60% to a record after the company announced that Chewy co-founder and former CEO Ryan Cohen joins the board. Wednesday’s jump brought the stock’s week to date gain to more than 80%.
Party City – Shares fell more than 14% as the company gave weak guidance in the fourth quarter at an investor conference. The retail chain said the rapid rise in new coronavirus cases had a greater-than-expected impact on consumer behavior, including reduced size at social gatherings.
General Motors shares continued to move higher after the company unveiled several new projects earlier in the week, including an electric shuttle and a flying car. Nomura Instinet upgraded the stock to buy from neutral and praised its electric vehicle strategy. The stock has gained nearly 12% this week alone.
Urban Outfitters – The retailer slipped 6% after saying sales in the two-month period ending December 31 fell 8.4% year-over-year. The company also announced that CEO Trish Donnelly took effect on January 31st.
Target – Equities advanced to a new record high on Wednesday before returning these gains and trading approx. 1% lower. The move came after Target said sales at the same store grew 17.2% over the holidays, with online sales more than doubling in November and December.
KB Home – The home construction company collected more than 5% after KB Home reported better quarterly earnings than expected. KB Home reported earnings of $ 1.12 per share. Share at a turnover of $ 1.19 billion. Analysts expected earnings of 93 cents per share. Share at a turnover of $ 1.14 billion, according to Refinitiv.
Exxon Mobil – Shares in energy giant rose more than 1% after JPMorgan upgraded the stock to overweight from neutral. The company said Exxon’s dividend is safe, giving Morgan Stanley sentiment from its upgrade of Exxon on Monday.
Twitter – The social media portfolio jumped more than 2% after MKM Partners upgraded the company to buy from neutral and said it was ready to leave a negative point of view stemming from the pandemic and politics. The stock has fallen more than 11% in the new year as Twitter and other companies intensify their efforts to remove their services for content that could lead to violence like the events of the Capitol uprising. Twitter has permanently suspended President Donald Trump’s account.
– CNBC’s Maggie Fitzgerald, Jesse Pound, Pippa Stevens and Fred Imbert contributed reporting.
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