UBS (UBS), the bank that bought Credit Suisse for about $3 billion, fell 0.9% after being downgraded to hold from analysts at Jefferies.
Activision Blizzard (ATVI) rose 5.9% after the UK’s competition and markets regulator said it was no longer concerned that Microsoft (MSFT) would use its $68.7 billion deal for the video game maker to snag Call of Duty from console competitors like Sony. Activision was the top performer in the S&P 500.
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Block (SQ) fell 1.9%. Shares of the payments company closed nearly 15% lower on Thursday after being targeted by short selling firm Hindenburg Research. The company claimed Block inflated user metrics and failed to curb inappropriate activity on its platform. Block called the report “factually inaccurate” and “misleading” and announced plans to explore legal action against Hindenburg.
Coinbase Global (COIN) rose 2.3% after plummeting 14% on Thursday after receiving a “Wells Notice” from the Securities and Exchange Commission warning the agency against taking enforcement action against the crypto to seize the stock market. The stock was downgraded to Underperform from Market Perform on Friday with a price target of $36 by analysts at TD Cowen.
Torrid Holdings (CURV) rose 22% after fourth-quarter sales beat estimates and the oversized retailer’s fourth-quarter loss narrowed.
scholastic
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(SCHL), the children’s publishing, education and media company, reported a bigger loss in the third quarter than a year earlier and provided guidance for the fiscal year that was lower than previous guidance. The stock fell 22%.
Lidar maker Ouster (OUST) reported fourth-quarter sales that missed estimates, and the stock fell 14%. The company expects revenue for the fiscal first quarter to be between $15 million and $17 million, down from Wall Street’s estimate of $20 million. But Ouster only completed its merger with Velodyne on Feb. 1 and said it remains on track to exceed previously forecast annual cost savings of $75 million over nine months.
Stifel Financial (SF) declined 2.4% after it estimated first-quarter investment banking revenues would be 5% to 10% below fourth-quarter levels.
Regeneron Pharma
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(REGN) was up 2.2% to $820 as Jefferies’ shares of the biotech were upgraded to a Buy from Hold and a price target raised to $925 from $675.
Write to Joe Woelfel at [email protected]