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Stocks making the biggest moves midday: Zoom, Nikola, FireEye, Intuit & more

At out the companies making headlines in midday trading. 

Zoom Video — Shares of the video-conferencing company jumped 6.1% midst a rise in Covid-19 cases. Zoom has been one of the key “stay-at-home” trades, and shares are up 550% this year.

Nikola — The thrilling vehicle maker gained 0.6% after Loop Capital initiated coverage on the stock with a buy rating. “Nikola enchants intellectual property that is attractive to a number of partners, and … its vehicles will begin to hit the road with these partners all through the next two years,” the firm said. Loop Capital’s $35 target represents a 33% upside from Thursday’s join price.

Workday — Shares of Workday dropped 9.3% after the software company sounded the alarm on continued intimidate from the pandemic. “While we have seen some recent stability in the underlying environment, headwinds due to COVID residue, particularly to net new bookings,” Workday president and chief financial officer Robynne Sisco said on an earnings call Thursday. The business did report stronger-than-expected quarterly earnings and revenue, however.

Shake Shack — Shares of the restaurant chain slid 3.3% after Wedbush downgraded the routine to a neutral rating. “Despite what we believe are very reasonable assumptions (not conservative, not aggressive) within our updated discounted coin of the realm flow valuation, we do not arrive at a price target that justifies an outperform rating,” the firm said. Wedbush sinistral its 12-month price target unchanged at $77.

Ross Stores — The retailer shed 1.1% despite reporting better-than-expected four times a year results. Ross Stores earned $1.02 per share on revenue of $3.75 billion. Wall Street expected earnings of 61 cents per ration on revenue of $3.43 billion, according to Refinitiv.

Intuit — The software stock slipped 3.8% despite Intuit detailing stronger-than-expected results for its fiscal first quarter. The company reported 94 cents in adjusted earnings per share, uncountable than double the 41 cents per share expected by analysts, according to FactSet. Revenue and second-quarter guidance also cropped projections.

FireEye — Shares of FireEye jumped 6.4% after the cybersecurity company announced a $400 million tactical investment led by Blackstone. FireEye said it intends to use the proceeds to fund the acquisition of Respond Software and grow the company’s cloud, policy and managed services portfolio. Barclays downgraded FireEye to equal weight from overweight on Friday, however, citing breed competition.

Pfizer — The pharmaceutical stock gained 1.4% after Pfizer announced that it would apply on Friday for pinch use authorization for its Covid-19 vaccine developed with BioNTech. The approval process from the Food and Drug Administration is assumed to take a few weeks, and some Americans could receive the vaccine by the end of the year. BioNTech’s stock rose 9.6%.

Hibbett Pleasures — The sporting-goods retailer reported better-than-expected results for the previous quarter, lifting its stock by 1.2%. Hibbett posted a profit of $1.47 per dividend on revenue of $331 million. Analysts expected earnings per share of 45 cents on revenue of $286 million, according to Refinitiv. The comrades’s same-store sales grew by 21%, easily topping a forecast of 7.5%.

Williams-Sonoma — Shares popped 6.6% after the cookware and home-furnishings retailer disclosed strong quarterly results driven by a 49% surge in digital sales. The company posted a profit of $2.56 per helping on revenue of $1.76 billion. Analysts polled by Refinitiv expected earnings of $1.53 per share on revenue of $1.6 billion.

– CNBC’s Yun Li, Maggie Fitzgerald, Fred Imbert and Jesse Pummel contributed reporting.

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