Learn more about the companies that are making headlines in mid-day trading.
Affirm, Amazon – Shares of Affirm have climbed more than 46% after the buy-it-now-pay-after company announced a partnership with Amazon. The e-commerce giant is teaming up with Affirm for its first partnership with an installment payment player on the Amazon site. Amazon shares rose more than 2%.
Globalstar, Apple – The satellite services company saw its shares rise nearly 64% on a report that Apple’s iPhone, due to launch in the fall, will support satellite communications, allowing customers to make calls and send messages via satellite. authorization will be given. Apple has a satellite phone network of 24 satellites in low earth orbit. Securities analyst Ming-Chi Kuo said Globalstar is most likely to partner with Apple. Apple shares rose 3%.
Baxter International, Hill-Rom – Healthcare maker Baxter International saw shares rise 2.7% after the Wall Street Journal said it advanced talks to acquire medical technology provider Hill-Rom in a potential $ 10 billion deal. in, which is about $ 150 per. to share. Hill-Rom shares were at $ 132.90 on the market on Friday. It rose about 10% on Monday.
Generac – Shares of the backup battery company gained 1.2% after Bank of America reiterated the stock as a buy. The analyst said Hurricane Ida, which has become the fifth largest hurricane to hit the Americas, “could serve as a positive catalyst” for the company over the next 30 days. Genac’s stock has climbed over the past eight sessions, benefiting from increased demand linked to weather disruptions.
NetEase – Shares of Chinese gaming giant NetEase fell nearly 5% after China’s National Press and Publishing Administration issued a new rule for children and adolescents under 18 in China, reducing their online video game time. Limited to only three hours per week. The agency introduced the rules as a way to protect children’s physical and mental health.
PayPal – Shares of PayPal jumped over 3.5% on CNBC’s report that it is exploring the stock trading platform for its US clients as it faces increasing competition from Square, Robinhood and other brokerage and finance super apps. Did.
Robinhood – Robinhood fell nearly 3% after PayPal reported and later fell as much as 8% on news that U.S. Securities and Exchange Commission Chairman Gary Gensler said a complete ban on payments for the order flow was “on the table”. From Baron’s report. The controversial practice, whereby brokerage firms receive a discount on trades made through their clearing house, is used by many no-fee brokers.
Capital One – Shares of Capital One fell more than 6% after Baird downgraded the stock’s rating from neutral to underperforming. According to Baird, the good news is already in the stock after a big rally this year. The company said in a statement, “After being vocal bulls on CoF throughout 2020 and most of this year, we now believe that risk / reward trading for the stock has been biased towards the drop, and here we are. I would recommend taking advantage of it. Pay attention.
Weber – Shares of the grill maker rose 4% after the company received positive support from Wall Street analysts. Goldman Sachs and Bank of America began hedging with buy ratings, and JPMorgan Securities assessed the stock’s overweight, citing Weber’s leadership position as well as pricing power. The company went public earlier this month.
Dave & Buster’s – Dave & Buster’s shares fell more than 4% after Stifel downgraded the stock’s rating from a buy rating to a maintenance rating. According to Stifel’s analysis of mobile location data, the trend towards casual eating has slowed amid high COVID cases.
Zoom Video – Shares of the video conferencing company rose nearly 2% on Monday ahead of Zoom’s second quarter earnings report. The company will release its latest results after the bell.
– CNBC’s Maggie Fitzgerald, Hannah Miao, Jesse Pound and Yun Lee contributed reporting
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