AT&T, Nvidia, SailPoint Technologies and more


A pedestrian walks in front of an AT&T location in New York.

Scott Mlyn | CNBC

Check out the companies making headlines in midday trading Monday:

AT&T — Shares of AT&T jumped 7.5% after the telecom giant announced that it closed its transaction with Discovery to spin off its WarnerMedia business. The combined company is called Warner Bros. Discovery. It began trading on the Nasdaq on Monday under the new ticker symbol WBD. JPMorgan also assigned an overweight rating to AT&T.

Nvidia — Nvidia’s stock fell 5.2% after Baird downgraded the chipmaker to neutral from outperform, citing concerns about order cancellations driven in part by a slowdown in consumer demand for PCs.

SailPoint Technologies — The cybersecurity company saw shares soar 29.2% after announcing Monday it will be acquired by private-equity firm Thoma Bravo for $6.9 billion, or $65.25 per share. The all-cash deal is expected to close in the second half of 2022.

Occidental Petroleum — Energy stocks were among the top decliners in the S&P 500, as oil prices dropped amid fears Covid lockdowns in China would depress global demand. Occidental Petroleum and Diamondback Energy fell 6.3% and 4.9%, respectively, while APA slid 4.5%. ConocoPhillips lost 4.9%.

Microsoft, Apple — Shares of tech giants were lower Monday as the 10-year Treasury yield climbed to its highest level since January 2019. Microsoft lost 3.9%, while Alphabet dipped 3.4%. Apple and Meta Platforms declined 2.6% and 2.6%, respectively.

Coinbase — Shares of the cryptocurrency services company fell 4.4% as the price of bitcoin dropped to its lowest level since March amid a broader sell-off in risk assets. Coinbase’s stock price is tied closely to the price of bitcoin since so much of its revenue being derived from trading fees.

KeyCorp — Regional bank stocks advanced as rates climbed. Regions Financial rose 1.9%, and Zions Bancorporation added 0.5%. KeyCorp, which was also upgraded by Wells Fargo, gained about 0.4%.

JetBlue — Shares of the airline gained 1.1% after the company said it’s cutting back its summer schedule in an effort to avoid flight disruptions, as it works to ramp up hiring this summer to meet a surge in travel demand.

 — CNBC’s Yun Li, Jesse Pound, Samantha Subin and Hannah Miao contributed reporting.



Source link

Related articles

Greatest early Prime Day monitor offers: Over 30 reductions which might be stay now

It is that point of the 12 months once more -- Amazon Prime Day is lower than per week away. It is a large gross sales occasion the place tech manufacturers roll out...

Forexlive Americas FX information wrap: US greenback slides as ADP misses. Gilts drop

Markets:Gold up $19 to $3358US 10-year yields up 3.6 bps to 4.28%WTI crude oil up $1.95 to $67.40S&P 500 up 0.5%CAD leads, GBP lagsThe US greenback firmed in European buying and selling however...

A President Who Did not Need the Job-A Legacy of Selflessness

Reflecting on True Management This Independence Day As we strategy Independence Day, I’ve been reflecting on one thing exceptional about our first president that appears virtually unattainable to think about at the moment: George...

There And Again Once more – A 2025 Market Story

This text was written byComply withCited by Barron's as one of many prime monetary web sites to go to on the weekend, Monetary Sense (www.financialsense.com) supplies academic sources to the broad public viewers...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com