Check out the companies making headlines ahead of Tuesday.
CarMax — Shares of the auto retailer rose 7% on better-than-expected quarterly earnings. CarMax earned 44 cents a share, beating a Refinitiv forecast of 24 cents a share.
Newmont — Shares fell 2.9% in early morning trade after it was announced that Newmont had increased its asking price in its bid to acquire Australia-based company Newcrest Mining for $19.5 billion, up 16% from the original bid Newmont lies. If the deal goes through, it would further secure Newmont’s position as the world’s largest gold producer.
Upstart – Upstart fell about 2% after JPMorgan initiated coverage of credit stocks with an underweight rating, citing a deteriorating credit environment.
Whirlpool – Shares rose more than 2% after Goldman Sachs upgraded Whirlpool to buy from neutral. The bank said the device stock is cheap and could gain more than 20%.
Moderna – The biotech giant slipped 4.9% after the company said it was delaying its flu vaccine due to a lack of registered cases in a late-stage trial. The news comes after a company spokesman told CNBC on Monday that Moderna hopes to have a line of new vaccines for cancer, heart disease and other yet-to-be-confirmed conditions on the market by 2030.
LendingClub – The lending platform rose 4.8% after JPMorgan began overweighting the stock. The bank said LendingClub’s recent sell-off was likely too harsh as investors grew nervous about financial institutions and the potential for a recession.
Bumble — Shares of the matchmaking company rose 1% after Baird began reporting on Bumble and gave it an outperform rating, noting that the stock has underperformed the S&P 500 this year and is now one “relatively cheap” valuation is traded. The company has given Bumble a price target of $23, which suggests the stock will gain more than 23%.
Array Technologies – Shares of the solar technology company rose 2% after Wolfe Research began coverage of Array with an outperform rating. Wolfe said in a note to customers that Array should benefit from the expansion of utility-scale solar power production.
WW International – Shares rose more than 28% after Goldman Sachs said the weight-loss company could triple in value. “WW’s subscriber base and earning power have shrunk, but we believe a catalyst for a turnaround has emerged with its new on-ramp solution for anti-obesity drugs,” Goldman said.
– CNBC’s Brian Evans, Alex Harring, Sarah Min, Samantha Subin and Jesse Pound contributed coverage.