Here’s a look at the companies making headlines in midday trading: Visa – Visa shares fell nearly 4% after Bloomberg reported the Justice Department was preparing to file antitrust lawsuits against credit card networks and payment processors. Smartsheet – Shares of Smartsheet surged more than 6% after Blackstone and Vista Equity Partners agreed to acquire the software maker for $56.50 per share in cash, or about $8.4 billion. The transaction is expected to close in January 2025, subject to shareholder approval, unless another offer is made. CHINA STOCK – Shares of Chinese companies soared after China’s central bank launched a series of stimulus measures. E-commerce giants JD.com, Pinduoduo and Alibaba gained between 7% and 11%, while automakers NIO and Li Auto both rose more than 8%. Thor Industries — RV stocks rose 5% after a stronger-than-expected earnings report. Raytheon’s fourth-quarter revenue was $2.53 billion and earnings per share were $1.68. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.30 per share on revenue of $2.47 billion. Arlo Technologies — The maker of wireless surveillance products, including security cameras and video doorbells, said its board of directors approved the repurchase of up to $50 million of common stock, sending the company’s shares up 4.5%. Flowserve — Shares of Flowserve rose nearly 5% after Bank of America reiterated a buy rating, calling its nuclear power business “undervalued.” The bank said it could be a beneficiary of the reopening of the Three Mile Island nuclear power plant and an impending inflection point in nuclear energy demand. BioNTech — Shares of the U.S.-listed German biotech company rose 4.1% after Morgan Stanley upgraded the stock to overweight from equal weight. Morgan Stanley said BioNTech has executed what it considers to be an “extensive” clinical development program. GE Vernova — The energy stock rose 2% and is 19% above the stock’s Monday close after Guggenheim initiated a research note with a buy rating and $300 price target. Analyst Joseph Osha sees “multi-year room for improvement in profitability.” —CNBC’s Alex Harring, Samantha Subin, Lisa Kailai Han, Jesse Pound and Sarah Min contributed reporting.
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