Mark Zuckerberg, chief executive officer and founder of Facebook, retains his telephone after the morning session at the Allen & Co.. Media and Technology Conference in Sun Valley, Idaho, July 13, 2018.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines in midday trading:
Kellogg — Kellogg rose 2.3percent on Friday after Goldman Sachs upgraded the customer basic company to buy from neutral. The analysts said in a note to clients that they expected organic growth to quicken and for margins to grow. Kellogg’s MorningStar Farms lineup of other meat products should also profit from consumer enthusiasm for goods such as Beyond Meat, the analysts said.
Facebook — The social networking giant fell 2% after the New York general lawyer declared it would be investigating the company for antitrust violations. Facebook is currently being probed by the Federal Trade Commission over antitrust issues.
CrowdStrike — Crowdstrike stumbled following its earnings report, falling more than 10percent despite favorable outcomes. The company beat expectations for earnings and earnings, according to quotes from Refinitiv. The company also increased its full year earnings guidance to a variety of $445.4 million to $451.8 million from between $430.2 million and $436.4 million. Credit Suisse analysts reported that”despite results, guidance is perhaps not enough to keep a floor under CRWD’s premium multiple.”
DocuSign — Shares of DocuSign jumped more than 18% following the cloud firm topped expectations for earnings in its second quarter and increased guidance. Subscription revenue rose 39% compared with the same quarter last year. Additionally, it increased full-year earnings guidance to a range between $947 million and $951 million, up from between $917 million and $922 million.
Costco — Costco jumped 2% after it reported that an August same-store sales increase of 5.5%. The Issaquah, Washington-based wholesaler clarified in a pre-recorded telephone message which sections with the most powerful results were candy, liquor and delicatessen, but that more powerful performance also came from automotive and sporting goods.
Lululemon Athletica — Shares of the athletic apparel retailer jumped 7 percent after reporting better-than-expected annual earnings. The organization reported earnings per share of 96 cents, 7 cents higher than Refinitiv consensus estimates. The results were driven by growth in men’s sales.
Grubhub — Grubhub jumped 2% in afternoon trading after the company declared a delivery partnership with McDonald’s. The new venture will produce the fast-food chain accessible 500 places across New York City as well as the Tri-State region.
— CNBC’s Elizabeth Myong and Jesse Pound contributed to this report.