An American Airlines Boeing 787-9 Dreamliner approaches landing at Miami International Airport on December 10, 2021 in Miami, Florida.
Joe Radle | Getty Images
Check out the companies that make headlines in the afternoon trade.
AMC Entertainment, Hycroft Mining. Shares in the movie theater chain fell less than 1% after announcing an agreement to acquire an estimated 22% stake in tiny gold and silver miner Hycroft Mining. Hycroft Mining’s share price, which is less than $2, is up more than 25%.
Starbucks — Shares in the coffee chain jumped more than 4% after it announced a partnership with Volvo Cars to investigate the use and potential scalability of electric vehicle chargers at Starbucks stores across the country. Meanwhile, Starbucks has also unveiled the latest steps it is taking to reduce the use of disposable cups.
Delta Air Lines, United Airlines, Southwest Airlines – Shares rose after Delta, United and Southwest said bookings beat expectations and a faster-than-expected recovery in travel demand. Delta and United added over 6% each. Southwest scored 2.8%. American Airlines jumped 7.2%.
Coupa Software – Shares fell about 20% on the day after the business software company released a much weaker-than-expected full-year guidance. However, Coupa beat expectations in earnings and earnings for the most recent quarter.
GitLab – GitLab shares rose more than 9% after the development operations platform beat analyst estimates in the fourth quarter and posted better-than-expected guidance.
Peloton – Shares of the home fitness company jumped about 9% after Bernstein initiated coverage of the shares with a “superiority” rating. The analyst mentioned Peloton’s healthy business foundation, new management and the recent drop in share prices. Its price target of $40 implies the stock could nearly double over the next year.
Planet Fitness – Shares of Planet Fitness rose 1.9% after Evercore ISI initiated coverage of the company with a rating of excellence. Evercore posted a $130 price target for the fitness center operator, representing upside potential of 60% from Monday’s closing stock price.
Toast – Shares of Toast jumped 6% after Baird upgraded the restaurant software company’s rating to outperform neutral and said its stock could rise nearly 54%. According to Baird, Toast could benefit from “growth above GDP” in the restaurant industry and international expansion opportunities.
GoodRx – Stocks jumped more than 6% after Baird upgraded their ratings to make them better. This year’s GoodRx sell-off offers an “attractive entry point” for investors, the firm said.
eBay – The retailer’s share price rose 2.7% in the middle of the day. On Tuesday, Deutsche Bank initiated a Buy recommendation on eBay, saying investors underestimate the company’s position in the resale market. Analysts expect the resale market for the company’s luxury cars to grow in European markets.
– CNBC’s Tanaya Macheel, Samantha Subin, Jesse Pound, Sarah Min, and Yun Lee provided reporting.