Stocks making the biggest moves midday: United Airlines, Spotify
The USS Truxtun (DDG-103) destroyer was docked at General Dynamics Corp. on the Elizabeth River in Norfolk, Virginia, on January 9, 2018. It is moored in dry dock at the NASSCO shipyard facility.
Luke Charret | Bloomberg | getty images
See which companies are making headlines in midday trading.
spotify — Shares of the music streaming service fell 2.5% after Redburn Atlantic downgraded the streaming giant to neutral from buy. The company said Spotify’s new audiobook offering doesn’t fit its original predictions of expanding margins while also creating competition from Amazon.
Zscaler — Shares of the cloud security company rose 4.2% after being upgraded to an overweight rating by Barclays. Analyst Saket Kalia cited new growth opportunities in the Secure Access Service Edge (SASE) cybersecurity segment as a catalyst.
targeted therapeutics — Shares of the cancer drug company fell more than 5% after Bristol Myers Squibb announced an agreement to acquire Mirati for $48 per share, plus contingent value rights worth up to $12 per share. . Mirati’s stock price closed Friday at $60.20 per share.
tesla — The automaker’s shares fell 2.3% in trading on Monday following news that the company’s sales in China last month fell 10.9% year-on-year, according to data from the China Passenger Car Association.
pending — The sneaker maker rose more than 1% after Baird upgraded the stock to outperform from neutral. The company said On’s recent investor day strengthened its confidence in the health of the brand and its growth pipeline for the next three years.
motorola solutions — Motorola added 3.3% after Bank of America launched the stock with a buy rating. The bank cited solid pricing power, strong growth and a sustainable order pipeline.
data dog — Datadog fell 3.6% after Bank of America downgraded the cloud stock to neutral from buy, citing the risk of revenue downside due to confirmed demand.
Oil Stocks — Energy stocks surged last weekend as the Israel-Hamas conflict intensified. stock halliburton, CF industry and hess They rose by 6.5%, 5.5%, and 5%, respectively.
Defense stocks — Like the energy sector, defense stocks rose as tensions between Palestine and Israel escalate. Northrop Grumman, L3Harris Technologies and general mechanics They soared 10.8%, 9.1%, and 8.4%, respectively.
Airline Stocks – On a broader level, airline names fell after several major airlines suspended service to Israel following this weekend’s attacks. united airlines While it fell 5.3% delta airlines and american airlines They fell 4.5% and 5.3%, respectively.
— CNBC’s Yun Li, Tanaya Macheel, Sarah Min and Jesse Pound contributed reporting.
