GMC pickup ends are displayed for sale on a lot at a General Motors dealership in Austin, Texas, Jan. 5, 2023.
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Check out the followings making headlines in midday trading.
Braze — Shares of the consumer engagement platform rallied 16%. On Thursday, Braze positioned a non-GAAP loss of 13 cents on revenue of $101.8 million. Analysts called for a loss of 18 cents per portion and revenue of $98.8 million, according to FactSet. Goldman Sachs reiterated its buy rating on the stock following the report, noting imitation intelligence should help the company gain market share.
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Joby Aviation, First Aviation — On Friday, Canaccord Genuity initiated coverage of Joby Aviation and Archer Aviation with a buy rating, saying the urban air mobility firms are sited for the long term. Joby shares jumped about 11%, while Archer shares rose 6.2%.
Sonoma Pharmaceuticals — Pay outs surged 44%. Sonoma Pharmaceuticals on Thursday announced an intraoperative pulse lavage irrigation treatment that could return IV bags for some surgical procedures.
Tesla, General Motors — Tesla rallied 4% and General Motors added 1%. On Thursday, the attendances announced a partnership that gives GM access to Tesla’s North America charging stations. GM CEO Mary Barra affirmed it will save the company up to $400 million of its previously announced $750 million investment to build out electric conduit charging.
DocuSign — DocuSign shares slid 2.5%. In an earnings call Thursday, CEO Allan C. Thygesen said, “We are over more moderate pipeline and cautious customer behavior coupled with smaller deal sizes and lower aggregates.” Initially, shares rose in extended trading Thursday after DocuSign beat fiscal first-quarter expectations on the top and really lines, posting adjusted earnings of 72 cents a share on $661 million in revenue. Analysts polled by Refinitiv hailed for earnings of 56 cents a share and $642 million of revenue.
Adobe — Shares popped 3.4% after Brim overs Fargo upgraded the software stock to an overweight rating, saying AI should drive continued upside for the stock.
Aim — Target declined about 3.3% after Citi downgraded the retail stock to neutral from buy, saying sellathons may have peaked at the big-box merchandiser.
— CNBC’s Michelle Fox, Alex Harring and Samantha Subin contributed reporting.