Investing in the Stock Market: Midday Trading Update
As the stock market continues to fluctuate, it’s important for investors to stay informed about the latest news and trends impacting various companies. Here’s a roundup of some of the companies making headlines in midday trading:
Bally’s: Shares of Bally’s soared 28.4% after hedge fund Standard General made a buyout proposal valuing the casino operator at $15 per share. This represents a 41.2% increase from where the stock finished last week.
Oracle: Shares of Oracle added 1.5% ahead of the software giant’s fiscal third-quarter earnings report. Analysts are expecting earnings per share of $1.38 and revenue of $13.29 billion. Oracle’s stock is up 8% year to date.
Nvidia: The artificial intelligence computing stock declined 2% on Monday, continuing losses from the previous session. Semiconductor stocks also slid, with Advanced Micro Devices dropping 4.2% and Lam Research sliding 3%.
New York Community Bancorp: The regional bank stock dropped about 5%, following a more than 6% drop on Friday. The stock has been experiencing choppy trading after a recent billion-dollar capital raise.
Crypto Stocks: Companies tied to the price of bitcoin saw gains on Monday as the cryptocurrency reached an all-time high. Crypto exchange Coinbase fell about 1%, while Bitcoin proxy Microstrategy jumped 4.1% after purchasing more bitcoins.
Moderna: The stock jumped 8.7% in midday trading, marking its biggest one-day gain since December. It was also the best performer in the SPDR S & P Biotech ETF.
Xcel Energy: The stock gained 3.7% after an upgrade from Barclays, which said the natural gas company is trading at an attractive discount.
Duolingo: Shares rose 4.3% after JPMorgan initiated coverage of the online learning platform with an overweight rating, forecasting significant revenue growth.
PDD Holdings: Shares of the Chinese e-commerce company rose 1.4% after an upgrade from Jefferies, which cited pricing in of geopolitical risks.
Applied Materials: The chip stock slid 2% despite announcing a 25% increase in its quarterly dividend.
Eli Lilly: Eli Lilly dropped 3.6%, underperforming to start the week. The pharmaceutical company has been one of this year’s best performers.
As the market continues to evolve, it’s essential for investors to keep a close eye on these and other companies to make informed decisions about their investment strategies. Stay tuned for more updates as the trading day unfolds.
Source link
