Stocks making the biggest moves midday: WBA, GME, INTC, HOOD
Check out the companies making headlines in midday trading. Walgreens Boots Alliance — The stock advanced 5.4% on news that Walgreens is looking for potential buyers for its $8.8 billion Boots drugstore chain in the UK, Bloomberg reported Monday. Xponential Fitness — Xponential Fitness shares were last up nearly 8.5% in volatile trading. The stock earlier Monday had tumbled more than 9%, reaching a 52-week low, after the company’s top executive was suspended without a return date. GameStop — Shares in the videogame retailer soared more than 65% on Monday after “Roaring Kitty,” the man who fueled the 2021 GameStop mania, posted online on Reddit for the first time in roughly three years. Trading was halted multiple times due to volatility. Reddit , Robinhood — Shares of the two companies that were involved with the meme stock mania in 2021 rose on Monday as GameStop surged. Reddit rose more than 9%, hitting its highest level since March, while retail brokerage stock Robinhood gained about 6.2%. Squarespace — Shares of the website platform company jumped more than 13% after it announced a $6.9 billion deal to go private . Squarespace will be sold to private equity firm Permira for $44 per share, a 15% premium to Friday’s close, after its continued underperformance as a public company. ARM Holdings — The chipmaker’s stock price jumped 4.6% following a Nikkei report that ARM is looking to launch its first artificial intelligence chips next year. Incyte — Shares climbed 8.4% after the biopharmaceutical company approved a $2 billion share repurchase program. Nexstar Media Group — The Irving, Texas-based television and digital media media company added 2.1% following an upgrade to overweight from equal weight by Morgan Stanley. The bank said the owner of 75% of CW Network is seeing strong retransmissions for 2024 and improved ad sales as programming expands. Intel — The chipmaker gained nearly 4% after the Wall Street Journal reported that it is in talks for an $11 billion deal with Apollo Global Management to build a factory in Ireland. SolarEdge Technologies — The solar stock surged nearly 6% despite being downgraded to neutral at Susquehanna, with the firm also slashing its price target over concerns tied to the company’s gross margin moving forward. About 8 million shares of SEDG are sold short, equal to roughly four days average trading volume, according to FactSet data. Airlines — American Airlines gained 4.4%, while United Airlines and Delta Air Lines added 2.9% and 1.7%, respectively, after HSBC initiated coverage with buy ratings. HSBC named Delta as its preferred stock in the sector and said that demand for international travel, rebounding corporate travel and tighter capacity will boost the stocks. — CNBC’s Alex Harring, Brian Evans, Hakyung Kim and Jesse Pound contributed reporting.
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