A pedestrian walks past a display of Skechers shoes.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines in midday trading.
Skechers — The shoe company gained 2.6% after UBS reiterated its buy rating on shares. UBS said Skechers’ brand and products “continue to resonate with global customers.”
Palantir Technologies — Shares of Palantir Technologies gained nearly 2% after the data analytics and software company won a $250 million contract with the U.S. Army, working to develop artificial intelligence and machine-learning capabilities through 2026.
PepsiCo — The beverage giant gained 2.2% after posting a third-quarter earnings beat Tuesday. The company reported an adjusted $2.25 per share on $23.45 billion in revenue, while analysts polled by LSEG, formerly known as Refinitiv, forecast earnings of $2.15 per share and revenue of $23.39 billion.
Solar companies — Shares of solar companies rallied Tuesday, putting the Invesco Solar ETF (TAN) on pace for its best day since March 21. SolarEdge added 4.5% and First Solar rose more than 5%. Sustainability-focused real estate investment trust Hannon Armstrong advanced 7%, bolstered by Baird saying the stock could have 81% upside.
Electronic Arts — Shares of the video game publisher rose 3% after Bank of America upgraded Electronic Arts to buy from neutral. The investment firm said the rebrand of EA’s FIFA franchise is going well, creating upside for the stock.
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