In the race of companies making huge and shocking stock price movements, the first company is McCormick. The spice-making company has reported that it is expecting a significant rise in its share prices following the release of its earnings report. The company reported that in the recently completed quarter, the analysts had estimated the company’s quarterly earnings to be 72 cents per share. However, the company successfully achieved quarterly earnings worth 80 cents per share, higher than analyst estimations. The spice maker’s revenue was also higher than the revenue estimates set by the Wall Street analysts. McCormick has, however, reduced its future sales earnings due to logistics and inflation challenges.
The next company on the list is FuboTV that has experienced a 1.4% rise in its share prices. Fubo is a gaming unit, which is prominently known for being a video streaming service mainly revolving around sports. The company’s share prices experienced a rise after it made an announcement regarding its new partnership. FuboTV revealed that it has recently partnered with Paysafe, a major online payments platform. The company has announced that it is going to benefit from Paysafe’s services in its operations related to interactive wagering. While share prices for FuboTV experienced a rise, Paysafe also benefited from the announcement. Since the announcement, Paysafe’s stock prices have also experienced a 1.1% rise.
Merck is the next company on the list, which is set to experience a rise in its share prices. The reason behind such anticipation from the analysts’ end is the recent deal that the pharmaceutical company has struck with Acceleron Pharma, a drug maker. The surprising fact about the deal is that Merck has bought Acceleon Pharma as part of the deal. The company has announced that it is going to acquire Acceleron Pharma for $11.5 billion or $180 per share in cash. As a pharmaceutical company, Merck is aiming to expand its operations in the medical sector to make more profits and generate more revenues.
The next company on the list is Virgin Galactic that has experienced an 8.9% rise in its share prices in the premarket trading on Wednesday, September 29, 2021. The rise was experienced after the company was given the go to resume its launch missions into space. The company was not launching any more missions after the flight mishap back in July of 2021. Since then, the space mission company was waiting for the FAA to finalize the investigation on the matter. The incident occurred when the flight from July ended up deviating from the path that was assigned for the mission. Now that the company has received the go from FAA, Virgin Galactic is going to continue with its mission.