Exterior pictures of both Tim Hortons and Burger King(in the same frame) located across the street from one another on the Queensway in Etobicoke.
Vince Talotta | Toronto Star | Getty Images
Check out the companies making headlines midday Monday:
American Airlines — American Airlines rose 2.2% after Deutsche Bank upgraded the airline’s stock to buy from hold. “American looks to be on the cusp of being a true deleveraging and free cash flow story. We’ve been waiting for this for a long time,” Deutsche Bank analysts said in a note.
Gardner Denver — Shares of the industrial company jumped 16% after a report said Gardner Denver is in talks to merge with a division of Ingersoll-Rand. The deal could be announced next week, The Wall Street Journal reported.
Restaurant Brands International — The parent company of Burger King and Tim Hortons fell 1.4% after releasing weaker-than-forecast quarterly earnings. Restaurant Brands reported earnings per share of 55 cents versus the 58 cents per share expected by Refinitv. Disappointing sales from its Tim Hortons business dragged down the company’s results.
Cooper Tire & Rubber — Shares of the tire company rose 1.2% despite missing Wall Street’s estimates in its first quarter. Cooper Tire & Rubber reported earnings per share of 14 cents. Analysts polled by FactSet expected a profit of 17 cents a share. Its management team, however, expects to improve operating profit margin in 2019.
Diamond Offshore Drilling — The driller’s stock dropped 6.3% despite the company reporting a lower-than-expected first-quarter loss. Diamond Offshore reported a loss of 53 cents per share, while FactSet had estimated a loss of 59 cents per share. The company reported better-than-expected revenues of $233.5 million, versus an estimate of $232.9 million.
Immunomedics — Shares of Immunomedics plunged 5.4% after the biopharmaceutical company announced announced its chief medical officer, Dr. Robert Iannone, is leaving.
Veoneer — Shares of the radar and vision systems software company plummeted nearly 17% after the company said it will seek up to $500 million in funding to deal with a slowdown in its driverless car business.
Momo — Shares of Momo fell nearly 7% after the Chinese social media company said some mobile app stores have removed its dating app Tantan on direction of governmental authorities in China, according to a press release. The company said it’s communicating with the government to restore Tantan as soon as possible.
Target — Target shares climbed 0.9% after a Barclays analyst upgraded the stock to overweight from equal weight and raised his price target to $115 a share from $85. “We have now decided with the pullback in the stock due to recent Amazon fears, our expected downside from this near-term view is meaningfully derisked,” the analyst said in a note.
Walt Disney — Disney shares rose as much as 1.8% after J.P. Morgan hiked its price target on the media giant’s stock to $150 per share from $137. The new price target implies a 7.2% upside from Friday’s close of $139.92. J.P. Morgan cited the strong performance of Marvel’s “Avengers: Endgame” movie for the price-target increase, among other factors.
—CNBC’s Nadine El-Bawab, Yun Li and Jessica Bursztynsky contributed to this report.