A screen shows the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022.
Brendan McDermid | Reuters
Check out the companies that make headlines in midday trading.
GameStop – Shares of the video game retailer fell 6% over large trading volume. More than 8 million shares traded as of 10:50 a.m. ET, which has doubled its 30-day average volume of 4.6 million. There were some large GameStop block trades during its early NYSE trading.
Nielsen Holdings Stocks spiked about 20% on news that a group of private equity investors led by Brookfield Business Partners will acquire the rating company for $16 billion. The company had previously turned down a $9 billion offer from the same consortium.
NortonLifeLock Shares of the cybersecurity company fell 4.5% in midday trading. On Tuesday, Morgan Stanley low class Shares of NortonLifeLock are roughly weighted, saying the company sees “limited catalysts” for the cybersecurity company. A UK regulatory investigation into NortonLifeLock’s $8.6 billion deal with Avast and the costs of higher inflation is weighing on the stock.
FedEx – FedEx stock rose 4.2% on news that Fred Smith CEO to step down on June 1. Smith, who founded the shipping and packaging company more than 50 years ago, will serve as executive chairman. Chairman and CEO Raj Subramaniam will replace him as CEO.
Uber – Shares rise 6% as ride-hailing company nears deal to include San Francisco taxis on its app, The New York Times report. The report comes after Uber last week announced a agreement to provide taxi services in New York City on its foundation.
Dave & Buster’s – The video game company’s stock jumped 10% despite falling short in the top and bottom lines of its quarterly results. Dave & Buster’s said business “intensified” in the first eight weeks of the first quarter with same-store sales up 5.4 percent year-over-year in 2019.
Reynolds . Consumer Products – Shares of the consumer products maker fell nearly 3% in midday trading after Goldman Sachs doubled low class stocks to sell from buy. The Wall Street firm said the consensus estimate was too high for Reynolds.
Stellantis The automaker’s shares jumped 7% in midday trading despite news that it will lay off an undisclosed number of workers at its Jeep plant in Illinois in an effort to operate the plant in a more sustainable way.”
Jefferies – Shares of Jefferies jumped more than 7% in midday trading after reporting better-than-expected quarterly profit and revenue. Jefferies earned $1.23 per share, much higher than the 89% consensus estimate, according to Refinitiv.
UnitedHealth Group – Healthcare giant UnitedHealth Group announces the acquisition of LHC Group at $170 per share. LHC Group is up 1% in midday trading while UnitedHealth Group is flat.
– with reporting from CNBC’s Samantha Subin, Sarah Min, Hannah Miao, Tanaya Macheel and Yun Li.
