Seen Starbucks coffee shop logo in one of their stores.
Stephen Zenner | LightRocket | Getty images
Check out the companies that are making headlines during afternoon trading.
Ulta Beauty – Shares of the cosmetics retailer fell more than 3% after Guggenheim downgraded Ulta from buy to neutral. Wall Street said it was concerned about uncertainty about profit margins amid increasing competitive pressure on digital platforms.
Starbucks – Stocks of the coffee shop chain rose 2.8% after shares were upgraded by BTIG to buy from neutral. The company said in a note to customers that it expects an accelerated reopening of the restaurant and that the new federal stimulus package will lead to higher profit expectations for Starbucks.
DraftKings – Shares of the gambling company rose more than 1% after DraftKings said it priced its new $ 1.1 billion debt offering in convertible senior notes. The company initially planned a $ 1 billion offer.
Nikola Corp. Shares of the vehicle design company fell 6.5% after the company announced a $ 100 million common stock offering in a filing with the Securities and Exchange Commission. Nikola said the proceeds will be invested in corporate infrastructure and general business purposes.
AstraZeneca – AstraZeneca shares were up 2.6% after a report said the Covid-19 vaccine will be recommended for people 65 and older in Canada. The CBC report came after several European countries decided to discontinue use of the vaccine over concerns about its side effects. Both the World Health Organization and AstraZeneca say the vaccine is safe.
Avis Budget – Avis Budget, meanwhile, lost 7.6% in the afternoon after Morgan Stanley lowered equity from “overweight” to “equal weight.”
CNBC’s Maggie Fitzgerald, Jesse Pound, Pippa Stevens and Rich Mendez contributed to the reporting.