Amazon.com Inc. parking signage stands outside a Kohl’s Corp. department store in Huntington Beach, California, U.S., on Saturday, May 11, 2019.
Kyle Grillot | Bloomberg | Getty Images
Check out the companies making headlines in midday trading:
Amazon — Shares of Amazon rose another 1.4% a day after posting its best day since January on a record holiday shopping season. The e-commerce giant issued a statement Thursday, boasting it quadrupled one-day and same-day deliveries over last season. The company also claimed that more people signed up to try Amazon Prime than ever before.
American Airlines — Shares of American slid 3.4% on Friday, giving up gains from earlier in the week as major airline stocks ticked lower. Wolfe Research said in a note that American and Spirit Airlines were unlikely to meet “aggressive” guidance for next year. American’s stock is down 9.9% this year, while shares of Delta, Southwest and United have all climbed.
Rite Aid – Shares of the pharmaceutical chain surged roughly 14% after Rite Aid delivered third-quarter results that beat expectations on both the top and bottom lines. Both Rite Aid’s retail and services units delivered improved sales volumes compared to the same time last year and the company reaffirmed its fiscal year 2020 revenue forecast.
Michaels Cos. – The arts and crafts retailer’s stock surged more than 9% after the company said that former Walmart executive Ashley Buchanan will become president and designated CEO on Jan. 6. She takes the reins from Mark Cosby who was in the job for just over two months. He will stay on through April 1 to help with the transition, and will remain on the company’s board of directors.
Wesco International — Shares of the Pittsburgh-based industrial holding company rose roughly 3.5% after it increased its offer to buy Anixter International, a networking equipment maker. The proposed deal would be for $93.50 per share in a combination of cash and stock. A private equity firm has also been bidding for Anixter. Shares of Anixter were up more than 3% on Friday.
Flexion Therapeutics — The drug maker’s shares jumped more than 12% after the Federal Drug Administration approved the company to change the label for its osteoarthritis knee pain medication, Zilretta. The label previously said the drug was not intended for repeat administration. Flexion chief executive officer Michael Clayman said in a press release that the old label was “potentially confusing to patients, physicians and payers alike.”
CNBC’s Michael Sheetz, Pippa Stevens, Leslie Josephs and Yun Li contributed to this story.
