Customers view motorcycles of Harley-Davidson Inc. at the company’s dealership in South San Francisco, California, USA, on Tuesday, June 26, 2018.
David Paul Morris | Bloomberg | beautiful pictures
Check out the companies that make headlines in midday trading.
Harley-Davidson – The motorcycle maker’s stock jumped about 7% after the company announced its electric motorcycle unit, Livewire, will be public through a merger with a special purpose acquisition company, or SPAC. The deal is worth approximately $1.8 billion and will be traded on the New York Stock Exchange under the symbol “LVW”.
Pfizer The vaccine maker’s stock rose more than 4% after a new Israeli study showed that its Covid-enhanced injection provided strong protection against severe disease from the omicron variant. Its partner BioNTech saw shares rise about 8.2% on the news. Separately, the company announced it will acquire drug developer Arena Pharmaceutical $6.7 billion in cash. ArenaShares of the company rose 79%.
Stock memes – Speculative stocks which was once popular with retail investors on Reddit slipped when traders bailed out of their risky positions. GameStopShares are up 12.7% in midday trading, while AMC Entertainment lost 15.8%. Outdoor shower bed down 6.3%.
SVB Financial Group – Shares of the financial services company and parent of Silicon Valley Bank fell more than 3% after the announcement it will acquire technology equity research company MoffettNathanson to expand its investment banking capabilities.
Bristol-Myers Squibb – The biopharmaceutical company sees shares rise 3.8% after it announced a dividend increase 10.2% over last year’s quarterly rate, as well as $15 billion worth of stock buyback authorizations.
Halliburton, Exxon Mobil – Shares of energy companies fell after Iraq’s Energy Minister said they were in talks about a potential sale of Exxon’s stake in the West Qurna-1 oil field in southern Iraq, Bloomberg reported on Monday. . Shares of Halliburton fell 5.3%, while shares of Exxon lost 1.8%.
Coca-Cola Shares of the beverage company jumped more than 2% after JPMorgan upgraded the stock to overweight. The company expects revenue growth momentum to pick up in 2022 as the economy reopens post-pandemic and notes that the stock’s current valuation is attractive both on a historical and on a historical basis. compared to other companies in the same industry.
Rivian – Electric vehicle maker Rivian shares rose 1% after MotorTrend named its R1T model the publication’s 2022 truck on Monday and called it “the most remarkable pickup we’ve ever driven.” R1T is First mass-produced electric truck in the United States, and this recognition is sought by automakers around the globe every year. Ford slip 4.5% and Synthetic engine 5% off.
Dollar tree – Shares of the discount retailer fell 1% after activist investor Mantle Ridge announced an attempt to try to replace the Dollar Tree board, which the company called “unwarranted aggression.” Dollar Tree also said it had offered to explore a deal with Mantle Ridge, which owns a 5.7 percent stake in the company.
Travel Stocks – Stocks related to travel and the reopening of the economy were lower on Monday amid continued fear and anxiety surrounding the omicron variant of Covid-19. United and American Airlines down more than 5%. Carnival lost 5.4% and Royal Caribbean Cruise decreased by about 4.8%. Hotel chain Marriott and Hilton 4% and 2.5% lower, respectively.
– CNBC’s Pippa Stevens contributed reporting
