Take a look at the companies making headlines in midday trading. Hershey, Mondelēz International – Shares of Hershey rose about 13% after Bloomberg News reported that Cadbury and Oreo maker Mondelēz are again trying to acquire Hershey Chocolate Co. News of the attempted takeover gave Hershey’s stock its best day since June 2016, when Hershey publicly disclosed a $23 billion bid from Mondelēz International. Mondelēz International shares fell 2%. CHINA STOCK – Shares of U.S.-listed Pinduoduo, JD.com and Ctrip all surged more than 10% after China’s Politburo pledged to ease its monetary policy stance in 2025 to boost domestic economic growth. , shares rose 5% and 5% respectively, while automaker Nio rose more than 14%. Macy’s — Shares of Macy’s rose 1% after activist investor Barington Capital called on the department store chain to cut spending and reassess alternatives for its Bloomingdale’s and Bluemercury businesses. Workday, Apollo Global Management – Shares of software company Workday rose 5% after S&P Dow Jones Indices announced the company will be added to the S&P 500 later this month. Apollo Global Management also announced a new member of the S&P 500 Index and hit a new 52-week high on Monday, but the stock fell about 2%. Warner Bros. Discovery, Comcast — Warner Bros. Media has signed a broad, multi-year cable distribution deal with Comcast that allows for the launch of Max in Europe The streaming service has also settled concerns over the rights to the Harry Potter TV series. Comcast shares fell 9%. Stellantis — Shares of automaker Stellantis edged up nearly 2% after CNBC reported that high-profile executive Tim Kuniskis will return to the automaker immediately to once again lead the company’s Ram Trucks brand. The decision comes about a week after Stellantis CEO Carlos Tavares unexpectedly resigned due to problems in the North American market. Nvidia — Shares fell about 2%. China’s State Administration for Market Regulation has launched an investigation into the chipmaker for possible violations of China’s antitrust laws, specifically related to Nvidia’s acquisition of Mellanox. Advanced Micro Devices — Shares of the chipmaker fell about 4% after Bank of America downgraded its rating to neutral from buy. The company noted that given Nvidia’s market dominance, higher competitive risks in the artificial intelligence field and an increasing preference for customized chips from other chip manufacturers could limit AMD’s market share growth potential. Dow Jones Industrial Average – Shares of the chemical maker rose 3% after it announced it would sell a 40% stake in some of its U.S. Gulf Coast infrastructure assets to funds run by Macquarie Asset Management. The transaction is expected to close in the first half of 2025. Both companies announced that Omnicom would acquire Interpublic in a stock-for-stock transaction. The transaction is expected to close in the second half of 2025. About 5%. The company now has until February to maintain its listing on the exchange. SoFi Technologies — Shares fell nearly 2% after Bank of America Global Research downgraded the fintech company and lender to underperform from neutral, saying the stock was overvalued after more than doubling in the past three months. . Shares rose after Donald Trump was elected as investors believed the company would benefit from the tougher student loan relief Trump is expected to enact. SolarEdge Technologies – Shares of SolarEdge Technologies rose 16% after the company announced it had begun shipping a “U.S. version” of its home batteries. The product is designed to qualify for the Domestic Content Incentive Tax Credit, a provision that is part of the Inflation Reduction Act to encourage the development of green technologies built with a specified percentage of domestically produced steel or manufactured goods. Revealed: Comcast-owned NBCUniversal is the parent company of CNBC. —CNBC’s Alex Harring, Jesse Pound, Sarah Min and Michelle Fox Theobald contributed reporting.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved