Stock Groups

Oracle, Carnival, Devon Energy, more

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Carnival Cruise Ship “Carnival Vista” departs for sea at the Miami Harbor Entrance known as Government Cut, Miami, Florida on June 2, 2018.

AFP | AFP | Getty Images

These are the headline-grabbing companies in midday trading.

Carnival — Shares of Carnival rose 3.2% despite Covid concerns as the company announcedIt expects to make profit in 2022’s second quarter. Carnival stated that advanced bookings are high at high prices and high levels for 2022/2023, compared to 2019.

Devon, Diamondback, Exxon Mobil — Energy stocks fell broadly on Monday as concerns about the omicron variant dragged down oil prices. Devon Energy dropped more than 5%. Exxon, Diamondback and Exxon both dropped by 4.6% and 2.2%, respective.

Oracle — Enterprise software maker Oracle’s shares slid 4.8% following the announcement that the company will acquire medical records technology provider Cerner in an all-cash deal for worth $95 per share, or approximately $28.3 billion in equity value. Cerner shares jumped almost 13% following the initial report of the deal. They were less than 1% higher Monday. This acquisition marks Oracle’s largest-ever.

Canopy Growth — Shares of the cannabis producer dropped about 8.8% after Piper Sandler downgraded the stock to “underweight” from “neutral,” citing sales trends under pressure. Wells Fargo started coverage on the stock last week with an underweight ratingThe company was called overvalued.

Sunrun — Shares of the residential solar company dipped 6.6% amid uncertainty around the Build Back Better plan, and after KeyBanc cut the stock to a sector weight rating.This call focuses on California regulators proposing to reduce solar incentives which are crucial for the industry’s growth. KeyBanc stated that the California market exposure of Sunrun makes it difficult to believe the implications for valuation.

AT&T — Shares of the telecom giant rose 0.7% amid a broad market sell-off after an upgrade from Barclays. The Wall Street firm hiked its rating on AT&T to overweight from neutral, saying that the telecom stock deserved to close the valuation gap to some of its rivals.

Verso — Shares of Verso surged nearly 35% after the Ohio-based maker of specialty, graphic and packaging paper announced will be acquiredSwedish paper producer BillerudKorsnäs in a deal worth $27 per share in cash.

— CNBC’s Yun Li, Tanaya Macheel, Jesse Pound and Pippa Stevens contributed reporting

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