Beyond Meat, AMC, Tesla and more

Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products are on a shelf for sale in New York City.

Angela Weiss | AFP | Getty Images

Find out which companies are making the midday headlines.

GameStop, AMC Entertainment – Meme’s shares rebounded after a strong sell-off in the previous session. GameStop was last up around 1.2% after losing nearly 14% on Monday. AMC reversed 1.2% after falling 10% earlier today. The cinema operator’s shares fell more than 15% in the previous session. These speculative trades were hit hard on Monday amid a massive market selloff as investors shed risky stocks after a record year.

Beyond Meat – Alternative meat stocks jumped 6.7% after Piper Sandler neutralized Beyond Meat from the overweight. The investment firm said in a note that a potential product launch at McDonald’s in early 2022 could boost Beyond’s results.

Tesla – Shares of the electric vehicle company fell 2.6% after CEO Elon Musk sold an additional $ 906 million of his shares on Monday. That brings the total amount of shares he sold to 11.9 million on Tuesday, according to InsiderScore / Verity.

Terminix – The pest control company has seen its shares climb about 18% after agreeing to be taken over by British rival Rentokil as it seeks to gain further foothold in the U.S. market, the world’s largest for pest control. The deal values ​​Terminix at $ 6.7 billion.

Dell Technologies – Dell Technologies shares slipped 1.6% at midday after Evercore ISI lowered online stock relative to outperformance. The Wall Street firm said after a 60% rally in 2021, the rise is expected to be more moderate.

Neogen – Shares of Neogen rose 7.9% after the company announced an agreement to combine with 3M’s food safety business.

Ralph Lauren, Capri Holdings – Shares of Ralph Lauren fell 2.7% after Goldman Sachs twice lowered the stock to a sell rating compared to a buy rating. The company said the health of the Ralph Lauren brand is fading and sees limited growth potential ahead. Meanwhile, Capri shares rose 1.7% after Goldman upgraded Michael Kors’ parent to a neutral buy rating on improving margins.

– CNBC’s Jesse Pound, Tanaya Macheel, Yun Li and Maggie Fitzgerald contributed reporting

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