Weber, Rivian, Tyson and more
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Weber could have a value between $4 billion to $6 billion.
Scott Olson | Getty Images News | Getty Images
These are the headline-grabbing companies in midday trading.
Weber – Shares of the grill maker tumbled 8.7% after the company missed Wall Street estimates in its latest quarterly report. Weber lost 19 cents per shares, against the consensus of 7 cents. Also, revenue missed estimates.
Rivian – The electric truck maker’s stock almost 12% after Soros Fund Management reported it bought nearly 20 million shares during the fourth quarter. It was approximately $2 billion in value at purchase. However, it has now fallen to $1.17 trillion.
3M – Shares fell 1.4% after the respirator manufacturer said demand for medical masks is expected to wane this year. Bloomberg reported on Sunday that the legal problems of 3M are causing a discount of $33 billion to its peers.
Splunk – Shares of the cloud software company jumped more than 8% after the Wall Street Journal reported Cisco SystemsAccording to people who were familiar with the matter, they made an offer for more than $20 billion. An acquisition this large would mark the biggest ever deal for networking equipment maker.
Aerojet Rocketdyne — The stock fell 5.3% after defense contractor Lockheed MartinThe $4.4 billion purchase of rocket motor maker was canceled. The transaction was blocked by federal regulators in January because of concerns about anti-competitiveness.
Tyson Foods – Shares dropped 3.1% on Monday after Barclays downgradedThe animal protein stock should be equal in weight to those who are overweight. According to the firm, strong sales results in beef and poultry were already included in the stock.
Micron – The chipmaker rose 1.8% after Wedbush upgraded MicronTo outperform neutral. According to the investment company, Micron could benefit from a stronger price for its key chip product in 2022.
Goodyear Tire – Shares rallied about 5% on Monday after JPMorgan upgraded the stockFrom neutral to overweight After the tire manufacturer’s stock plunged 27% Friday, the company warned about inflation headwinds. JPMorgan stated that the overall sell-off was an excessive reaction.
Callaway Golf – The stock added 4.9% after investment firm Stephens named the Topgolf parent a top pick. Stephens indicated that Callaway had a lot of catalysts in store for it. Stephens mentioned that there will be an analyst conference scheduled in 2Q as well as an improved supply chain and Topgolf traffic increasing through the 1Q.
— CNBC’s Tanaya Macheel, Jesse Pound, Yun Li contributed reporting
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