Marriott, Mastercard, Casper, Etsy and more


People walk past the entrance to the five-star Paris Marriott hotel.

Frederic Dufour | AFP | Getty Images

Find out which companies are making headlines in the midday business.

Peloton – Shares of the home fitness company fell 24% after the stationary bike maker announced it would temporarily halt production of its bikes and treadmills due to falling demand as it trying to control costs. The news comes as around $40 billion has been cut from Peloton’s market capitalization over the past year.

Marriott International – Shares of the hotel chain jumped more than 4% after the company provided an update on its development process in 2021. Marriott said it added more than 86,000 rooms on a gross basis, increasing the system by 3.9%, including room cuts of 2.1%. It also said that at the end of the year it had the largest development pipeline in the world, with around 485,000 rooms.

Baker Hughes – Shares of the energy technology company jumped nearly 5% after posting strong quarterly results. Reported revenue of $5.5 billion beat FactSet’s estimate of $5.4 billion. Adjusted EBITDA was $844 million, versus estimates of $787.2 million.

Traveler companies – Insurance stock jumped 5% on Thursday after travelers blew past estimates for profits and revenue for the fourth quarter. The company reported earnings per share of $5.20 on revenue of $8 billion, with net premiums written up 10% year-over-year. Analysts polled by Refinitiv had forecast $3.86 per share on $7.71 billion in revenue.

Regions Financial – Shares of the bank fell more than 3% after the company reported quarterly earnings below expectations of 6 cents per share, as well as revenue matching analysts’ estimates.

M&T Bank – Shares of the regional bank fell about 3% after the company’s reporter reported earnings below expectations for the last quarter. Interest margins were also lower than expected at 2.58% versus estimates of 2.67%.

International flavors and fragrances – Shares of the New York-based fragrance company rose 2.8% after CNBC’s David Faber reported that longtime activist investor Carl Icahn had taken a stake of 4% in the company. In addition, International Flavors & Fragrances has named Frank Clyburn CEO effective February 14.

Casper Sleep – Shares of the mattress company jumped nearly 15% after Casper announced that its board had approved a takeover bid from private equity firm Durational Capital Management. The deal values ​​Casper at $6.90 per share.

Mastercard – The card giant saw its shares rise around 3% after launching a virtual card solution that will enable instant business-to-business payments. The news follows other new product announcements on Wednesday, including a co-branded credit card with Instacart and an NFT partnership with Coinbase.

Signet Jewelers – Shares fell more than 2% after the jewelry retailer said holiday sales rose 30.4% from a year earlier. Same-store sales also jumped more than 25%, the company said.

Etsy — The online market saw its shares rise 2.9% after the stock received an upgrade from KeyBanc to an overweight relative to the sector’s weight. The company’s price target of $200 implies an upside of around 22%.

— CNBC’s Jesse Pound, Hannah Miao and Yun Li contributed reporting


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