Netflix, Boeing, State Street and more

Netflix, Boeing, State Street and more

Learn more about the companies that are making headlines in mid-day trading.

Spotify – The streaming company saw its shares rise 2.8% after KeyBanc upgraded Spotify to sector weight gain. The company said in a note to customers that the company continues to show rapid growth relative to its potential competitors.

Terminix – Terminix added 1% after Bank of America doubled the stock to buy underperformance. Bank of America said this year’s weakness in pest control stocks creates a “solid buying opportunity,” as it sees a “positive risk-reward” today.

Shares of the aircraft maker fell 2%, trailing the Dow Jones, after Boeing – Ryanair ended talks on buying the 737 MAX 10 jet. The deal was reportedly worth tens of billions of dollars, a Reuters reported.

Match Group – The stock of the online dating company jumped 6.6% after the announcement of Match’s addition to the benchmark S&P 500. Effective September 20, Match Group will replace Perigo Company in the large-cap equity index.

NETFLIX – Shares of the streaming service rose nearly 3.3% after Atlantic Equities raised its price target from $ 690 to $ 780, the highest among leading Wall Street analysts and up 32 % where the action closed on Friday. Atlantic raised its subscriber projections for 2024 and said it expects Netflix to have 311 million subscribers in 2025, up from 209 million at the end of the second quarter.

Coinbase – shares of the crypto services firm fell 3.9% as the price of bitcoin fell nearly 10% on the day it became legal tender in El Salvador – although the rollout did not materialize went smoothly, the country quickly disconnected its government-run bitcoin wallet. ended. In the morning for software improvements. On the same day, $ 800 million of long-standing bitcoin derivatives were liquidated, according to Glassnode. Coinbase shares trade in tandem with the price of bitcoin.

STATE STREET – Shares fell nearly 4% after the finance company announced plans to acquire Brown Brothers Harriman & Co. for $ 3.5 billion in cash, which would include its custody, accounting, administration funds, global markets and technology services. Eh. The deal is expected to be finalized at the end of the year.

PPG Industries – Shares of the paint maker fell 3% after the company warned of supply chain disruptions and higher input costs that could weigh on sales this quarter. The company said it expects third-quarter sales to be $ 275 million, about $ 225 million lower than the company’s forecast at the start of the quarter.

Johnson & Johnson, Merck, Amgen – Large-cap pharmaceutical stocks fell after being downgraded by Morgan Stanley, saying they have limited upside potential. The company changed its ratings on Johnson & Johnson, Merck and Amgen from overweight to equal weight. Shares fell 1.7%, 2% and 2.4% respectively.

– CNBC’s Maggie Fitzgerald, Hannah Miao, Jesse Pound and Yun Lee contributed reporting

Be a smart investor with CNBC Pro.
Access stock picks, analyst calls, exclusive interviews and CNBC TV.
Register to start one free trial today

LEAVE A REPLY

Please enter your comment!
Please enter your name here