On October 22, 2020, New England Patriots cornerback Stephon Gilmore (24 years old) stretches during the New England Patriots practice game in Foxborough, Massachusetts.
Barry Chin | Boston Globe Getty Images
Check out the companies that made the headlines in midday trading.
Energy stocks-Oil stocks rose again on Monday, as West Texas Intermediate crude oil futures were trading at more than $81 a barrel. Diamondback Energy’s stock price rose 3%, while Halliburton’s stock price rose 4.9%. Solar energy stocks also rose, with Sunrun and Enphase Energy rising more than 6%.
Freeport-McMoRan-The stock price soared 6%, making it one of the biggest gainers in the Standard & Poor’s 500 Index. The stock’s rise was carried out against the backdrop of rising energy and industrial sectors and rising copper prices.
Retailers-After cotton prices hit a 10-year high of $1.16 per pound on Friday, the apparel manufacturer’s stock prices fell. Gap fell 3.4% and Levi Strauss fell 2%. Ralph Lauren’s stock price also fell.
Chart, Comcast-After Raymond James downgraded their ratings to market performance, these two cable stocks fell on Monday. Comcast fell more than 2.5%, and Charter fell less than 1%.
SoFi Technologies — After Morgan Stanley launched an overweight rating, the online personal finance company’s share price soared by more than 10%. The Wall Street company is optimistic about SoFi’s student loan refinancing business, and said that SoFi’s bank license application may be approved as another possible boost catalyst.
Aspen Technology — After the industrial software manufacturer announced an agreement with Emerson Electric to merge its two software businesses, its stock price rose 9%. The value of this cash plus stock transaction is approximately $160 per share.
Cleveland-Cliffs-Cleveland-Cliffs’ stock price rose more than 5% after the steel producer announced that it would acquire Ferrous Processing and Trading, a scrap metal company. This acquisition will mark Cleveland-Cliffs’ entry into the scrap business.
DraftKings-After Citi initiated a buy rating, the sports betting company’s stock price rose nearly 4%. The Wall Street company said it was a “market leader” in the gaming industry.
Southwest Airlines-After canceling more than 2,000 flights over the weekend, the airline’s stock price fell by more than 1% due to air traffic control issues, bad weather and its own staff shortage.
Coinbase-As Bitcoin continued its two-week rise and hit a record high, the share price of this cryptocurrency exchange fell by more than 5%. Coinbase stocks are often traded in sync with the price of cryptocurrencies, because most of its revenue comes from transaction fees.
— CNBC’s Yun Li, Maggie Fitzgerald, Jesse Pound and Hannah Miao provided reporting
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