Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making headlines in the finance world. Today, we dive into the midday trading activity of some key players in the market.
JetBlue, a well-known airline, saw its shares drop by 13% after announcing plans to sell $400 million of five-year convertible senior notes. Meanwhile, Hawaiian Electric Industries experienced a significant plummet of over 16% due to uncertainty around its financing plan for a $1.7 billion Maui windstorm and wildfire settlement payment.
On the flip side, KeyCorp, a regional bank based in Cleveland, surged by 13% after striking a deal with The Bank of Nova Scotia. This partnership saw KeyCorp receive $2.8 billion in cash, with Scotiabank securing a 14.9% stake in the lender.
Israel-based software company Monday.com witnessed a 12% surge in shares, hitting a new 52-week high, following impressive second-quarter results. The company outperformed analyst expectations with earnings of 94 cents per share on revenue of $236.1 million.
In the crypto world, Marathon Digital faced a 7% decline after announcing a $250 million private debt offering of seven-year notes. And Starbucks saw a nearly 4% jump in shares after reports emerged of activist investor Starboard Value building a stake in the company.
Qualcomm, a chipmaker, experienced a 2% loss after being downgraded by Wolfe Research. Online brokerage Robinhood, on the other hand, saw a 2.5% increase in shares following an upgrade by Piper Sandler to overweight from neutral.
And finally, Par Technology, a player in the restaurant technology sector, saw a 1.8% increase after being upgraded by Jefferies to buy from hold. The bank cited Par’s scale and momentum as key factors in its decision.
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