Kroger is opening automated warehouses across the country to build a bigger and more profitable online grocery business.
Check out which companies are making the headlines at midday Friday.
Robinhood – Shares of the trading app fell more than 7% after that Goldman Sachs downgraded the stock’s credit rating For sale from Neutral. Wall Street cited low levels of retail participation, persistent weakness in account growth and a limited path to near-term profitability for its updated forecast.
WD-40 — The lubricant maker reported quarterly results that beat analyst expectations, sending the stock up nearly 9%. WD-40 reported earnings of $1.41 per share, easily exceeding Refinitiv’s consensus estimate of $1.01 per share.
EPAM systems Shares of the software company rose 12.5% after EPAM Systems said it was ending its operations in Russia. Stifel analysts said late Thursday they interpreted the decision as “positive as it removes the most obvious burden.”
Kroger Shares of the grocery chain next jumped about 3%. Bank of America upgraded shares of Kroger To buy from neutral. The company believes that Kroger can pass the cost of higher food prices on to customers.
UBS UPS shares fell 0.8% after that Bank of America cut the stockHe cited “decreasing demand.” The bank downgraded eight other carriers, which it fears will be hurt by falling prices and slowing demand.
HP The computer maker’s shares fell nearly 3% after that UBS cut the stock To the neutral of the purchase. UBS believes that higher valuations and weak consumer sentiment will limit HP’s upside. The call comes after Warren Buffett’s Berkshire Hathaway Bought a large share In the company this week.
CNBC’s Yoon Lee and Samantha Soobin contributed reporting