Take a look at the companies making headlines in midday trading. FuboTV — Shares of FuboTV soared 242% after the streaming provider confirmed a deal to merge its live online TV business with Walt Disney. The new joint venture will be 30% owned by Fubo and 70% owned by Disney, and will become the second largest digital pay TV provider after YouTube TV. Pony.ai — Shares of the Chinese self-driving car company rose 2% after Pony.ai said in a statement on Friday that it is trying to launch a robotaxi service in Hong Kong, the first step in its global expansion. step. Paycor – Shares of payroll services provider Paycor soared 24% after Bloomberg reported the company was in advanced talks to be acquired by larger rival Paychex. A deal could be announced as soon as this week, people familiar with the matter said. T-Mobile – The telecom stock fell 4% after Wells Fargo downgraded the company to equal weight from overweight. The investment firm said growth on key T-Mobile metrics is slowing and the company trades at a premium to its main rivals, adding to risks for the stock. Dutch Bros – Shares of Dutch Bros rose 2% after the coffee chain was upgraded to outperform from neutral by Baird. The investment firm said it has “become more confident in the near-term fundamental pattern” as the new year begins and still expects the stock to have significant upside ahead. Shares of Capri Holdings — the parent company of Coach and Michael Kors — rose more than 6%. The gains came as Bank of Montreal upgraded the stock to outperform from market perform, citing “overly negative/disinterested sentiment.” VeriSign — Warren Buffett’s Berkshire Hathaway bought an additional 20,044 shares for $4.1 million in transactions on Tuesday, Thursday and Friday, a regulatory filing showed. Shares rose nearly 3%. The group has now purchased VeriSign stock for 12 consecutive trading days. American Airlines — Shares of American Airlines rose 5% after TD Cowen upgraded the airline to buy from hold. The company also set a $25 stock price target, which would mark a new high on Wall Street, according to LSEG. Citigroup — Barclays rose 4% after the bank upgraded its outlook to overweight from equal weight on an improving outlook for the bank. The company also said Citi may be at a turning point after reporting annual revenue growth and positive operating leverage in the business. Chip Stocks – Chipmakers were higher on Monday after contract electronics giant Foxconn reported record fourth-quarter revenue. The share prices of TSMC and Nvidia both rose by more than 5%, and Micron Technology’s share price soared by more than 12%. Meanwhile, shares of Advanced Micro Devices and Qualcomm also rose more than 4%. MicroStrategy — Shares of Bitcoin Proxy rose nearly 5% after announcing that it aims to raise up to $2 billion in preferred equity to use to acquire more Bitcoin and strengthen MicroStrategy’s balance sheet. Plug Power — A developer of hydrogen fuel cell systems rose 19%. The company previously added 13% on Friday after the U.S. Treasury Department released final rules that provide billions of dollars in tax credits to companies involved in hydrogen manufacturing to grow the clean energy industry. Chewy — Mizuho upgraded the online pet food retailer’s perform to outperform from neutral and raised its price target to $42 from $24, implying a gain of about 17% from Friday’s closing price. Shares rose about 4%. “Recent concerns about increased ad spending are short-sighted,” analyst David Bellinger said. —CNBC’s Sean Conlon, Michelle Fox, Alex Harring, Yun Li, Sarah Min, Jesse Pound and Samantha Subin contributed to the report.
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