Stocks making the biggest moves midday: FUBO, PYCR, PLUG
Check out the companies making headlines in midday trading. FuboTV — The streaming provider soared 251% after confirming it struck a deal to combine its online live TV businesses with Walt Disney . The new venture will be 30% owned by Fubo and 70% by Disney and form the second-largest digital pay-TV provider after YouTube TV. Pony AI — The China-based self-driving vehicle company added 2.6% after Pony AI said in a Friday statement it was trying to launch robotaxi services in Hong Kong, the first step in its global operations expansion. Paycor — Shares of payroll services provider Paycor surged 23% after Bloomberg reported that the company is in advanced talks to be acquired by larger competitor Paychex . Sources familiar with the matter said that a deal may be announced as early as this week. T-Mobile — The telecom stock fell 3% after a downgrade to equal weight from overweight at Wells Fargo. The investment firm said T-Mobile’s growth in key metrics is slowing at a time when the company is trading at a pricey premium to its major competitors, increasing the risk for the stock. Dutch Bros — Shares rose 2.5% after the coffee chain received an upgrade to outperform from neutral at Baird. The investment firm said it had “become more confident in the near-term fundamental setup” as the new year began, and still expects plenty of upside ahead for the stock. Capri Holdings — Shares of the Coach and Michael Kors parent popped 8%. The gains came as BMO upgraded shares to outperform from a market perform rating, citing “too-negative/uninterested sentiment.” VeriSign — The internet stock jumped 2.5% after a regulatory filing revealed Warren Buffett ‘s Berkshire Hathaway scooped up 20,044 more shares for $4.1 million via transactions on Tuesday, Thursday and Friday. The conglomerate has now bought shares of VeriSign for 12 sessions in a row. American Airlines — The carrier stock popped 3.2% following TD Cowen’s upgrade to buy from hold. The firm also set a price target of $25 for shares, which marks a new high on Wall Street, per LSEG. Citigroup — The bank stock rose 2.5% following an upgrade to overweight from equal weight at Barclays, which cited an improved outlook for large-cap banks. The firm also said Citi may be at a turning point after reporting annual revenue growth and positive operating leverage for its businesses. Chip stocks – Chipmakers moved higher on Monday after contract electronics giant Foxconn recorded its highest-ever revenue for the fourth quarter . Shares of Taiwan Semiconductor rose 5.5% and Micron Technology surged more than 10%. Meanwhile, Advanced Micro Devices and Nvidia likewise jumped more than 3%. MicroStrategy — The bitcoin proxy gained nearly 12% after announcing it was targeting a capital raise of up to $2 billion of preferred stock , to be used to acquire more bitcoin and strengthen MicroStrategy’s balance sheet. Plug Power — The developer of hydrogen fuel cell systems gained 20%. It had previously added 13% on Friday after the U.S. Department of the Treasury released final rules for billions in tax credits for companies involved in making hydrogen in an effort to grow the clean energy industry. Chewy — Shares rose 3.1% after Mizuho upgraded the online pet food retailer to outperform from neutral, and hiked its price target to $42 from $24, implying about 17% upside from Friday’s close. Analyst David Bellinger said the “near-term concerns around higher ad spend are short-sighted.” — CNBC’s Sean Conlon, Michelle Fox, Alex Harring, Yun Li, Sarah Min, Jesse Pound and Samantha Subin contributed reporting.
- Finance
